Loan sharks prey on families with back to school costs

MONEY lenders, both legitimate and illegal, are preying on cash-strapped families and enticing them to run up debts for items such as school uniforms, shoes and books which, in many cases, will result in these costing three or more times what they cost in the shops.
An appeal has been issued by St Jarlath’s Credit Union for families worrying about how to fund back-to-school costs not to be tempted by doorstep offers or seemingly easy repayment schemes, and to come directly to the credit union to see what help is available.
Manager of St Jarlath’s Credit Union Mick Culkeen told The Tuam Herald that they were well aware of unscrupulous operators busy in Tuam and in other towns and villages in the area and they, in conjunction with the schools and other agencies, were doing their utmost to stamp it out.
He said that it was not a shock to them that vulnerable people were being preyed on. Back-to-school costs provide rich pickings for moneylenders and those supplying goods such as uniforms and shoes “on tick”. What was shocking, he said, was how long it is taking to tackle this perennial problem and how many people were still being caught in the net.