Public urged to steer clear of Loan Sharks as Christmas nears

Clllr Gallagher
Cllr Gallagher

With just a few weeks to go before Christmas a Glenties area councillor has urged those facing financial difficulty to not fall prey to moneylenders or loan sharks.

Marie Therese Gallagher says loan shark's interest rates are extortionate and they can often be violent.

Even legal moneylenders can offer loans based on APRs of as much as 196 percent.

Councillor Gallagher says the Vincent de Paul and MABs are just two organisations based locally who help people during what can be the most stressful month of the year:   [podcast]http://www.highlandradio.com/wp-content/uploads/2009/12/MTG.mp3[/podcast]