Families advised to avoid the moneylenders

SINN Féin Councillor Kenneth Flood has urged families to avoid ‘moneylenders’ at all costs.

‘ The pressure is on families at this time of year to spend money they don’t always have. Christmas is the most expensive time of the year and there are some that just can’t afford the necessities never mind all the extras. This leads many families to borrow money and that is where we have to be careful,’ he stated.

Cllr Flood warned of unscrupulous ‘moneylenders’ who charge exorbitant interest rates. “I am not just talking about the unlicensed moneylenders who call at your door charging 180% interest, some of these loan sharks are licenced and quite legal but are still charging huge interest rates.’

Cllr Flood warned “you can expect to see leaflets through your door or adverts offering money for Christmas, these people are a scourge on Drogheda and beyond. Don’t buy into them, visit your local Credit Union if you need finance. If you are in debt already then please visit MABS who can advise you on your finances.”