Newry Armagh Sinn Féin Sinn Féin -- Building an Ireland of Equals

'Don't suffer in silence over debt' - Rafferty

Published: 4 December, 2008

Sinn Féin's Cathy Rafferty has urged people experiencing problems with debt not to 'suffer in silence'.

"There is a huge problem in our city regarding debt and the situation is only getting worse as more and more people struggle to survive in the current economic situation, particularly as Christmas approaches,"

"This situation is being exploited by loan sharks and even so-called reputable credit companies who are offering personal loans on a door-to-door basis. What they don't make clear is the exorbitant interest rates they charge particularly if you miss repayments. The result is more and more vulnerable people are getting into debt that they simply can't afford to pay back.

"In many cases, this debt is hidden from friends, neighbours and even family and that is putting an incredible strain on people's lives.

"I am urging people not to suffer in silence and to seek help with their debt problems. There are organisations out there like the Citizens Advice Bureau who can assist or people can contact my office and we will put you in touch with someone who can help.

"I would also urge people not be forced into the arms of loan sharks. There are other opportunities out there for those in need of credit such as the Social Security Social Fund Loans.

"Sinn Féin are also pressing for new legislation which would enable Credit Unions to offer increased services so that people can access affordable credit."