People in Clare are being warned of money lenders operating ‘under the radar’ as Christmas spending begins to step up.
A new survey from the Competition and Consumer Protection Commission shows consumers are planning to spend 1,200 euro over the festive period.
More than two thirds are planning to use savings, and it’s prompted fears those most in need may turn to high interest lenders to finance Christmas.
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Louis Fay of St Francis’ Credit Union in Clonroad Beg says the convenience factor is far outweighed by the overall cost to borrow money from such lenders.
