Danger of ‘payday’ loans in run up to Christmas

THERE has been an ‘unbelievable demand’ from people in Cookstown desperate to secure a payday loan to enable them to cope with the spiralling cost of living.

And coming up to Christmas, people also have the desire to ‘keep up with the Jonses’ in their spending habits, so that they can purchase the latest in toys and gadgets for their families.

St Vincent de Paul

St Vincent de Paul

The President of St Vincent de Paul, Denis Loughry is keen for people who may find themselves in financial distress to move away from the temptation of payday loans and to seek help from the charity in Cookstown.

The Emergency Loan Scheme was set up in response to the payday loan shops which have sprung up in Mid-Ulster.

In this video Mr Loughry explains a bit about the scheme and how it operates.

* Full story in this week’s MAIL.