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Debt advisor warns against money lending stores as Ulster Bank crisis continues
A LEADING debt advice agency has urged people to stay clear of high interest money lenders as the Ulster Bank crisis rumbles on.
There was a furious reaction in Strabane yesterday when ‘The Cheque Centre’ launched a concerted campaign to attract those hit by the Ulster Bank glitch.
Using gaudy balloons and banners, the store launched their promotion with the slogan ‘Got bank problems? Get cash in your hand today!’
Politicians in the past have accused the same company of charging “extortionate” rates of interest.
And according to the Cheque Centre website yesterday, customers can expect to pay a ‘representative’ interest rate of a staggering 2,115.69 percent.
The Strabane Chronicle was contacted about the Cheque Centre campaign, with one shopper accusing the store of preying on people already suffering because of the ongoing Ulster Bank debacle.
“It’s exploitation. They know people’s backs are against the wall because of the Ulster Bank and they are trying to take advantage of it.
“It’s a low thing to be doing when people are already struggling financially,” said one man.