A CHARITY is warning parents not to entertain housecalls from moneylenders after working with families struggling to repay loans at exorbitant interest rates.
Society of St Vincent de Paul’s, south-west regional co-ordinator, Gerry Garvey said they worked with a number of Cork families earlier this year who had found themselves saddled with debt after Christmas. Many of those affected, he explained, had received housecalls from moneylenders with tempting offers during the festive season.
“This is the way the majority operate,” he said. “It seems like easy money at the time which some might find very tempting.”
Mr Garvey pointed out that these parents were hugely concerned about Christmas and may have been singled out through local knowledge.
He emphasised that while moneylending is legal, it is still leaving a number of families in a vulnerable position. Mr Garvey said that people are even more at risk this year in light of poverty caused by the pandemic.
“This is a bottomless pit that is hard to get out of,” he said.
“It’s the act of the person calling to the door that is most difficult.”