John Halligan (Waterford, Independent)

I want to concentrate on illegal moneylenders whom I can only describe as vermin, parasites and sub-human as they prey on the most vulnerable in society. The amount of illegal moneylending going on is not documented enough. Many of these illegal moneylenders are criminals which has been well-documented by RTE and other news reporters. Over the past several years, it has become a growing problem in Waterford city as well as in other towns and cities. These illegal moneylenders prey on the most vulnerable in society, those with no or poor credit rating. More and more people are falling into their vicelike grip. Ordinary citizens may require a financial dig-out at some stage in life. It may be to meet expenses for a communion, confirmation or even a family bereavement. Due to their credit circumstances they cannot go to the credit union or the bank for a loan. Instead, they have no option but to deal with illegal moneylenders. Moneylenders humiliate, harass and even threaten people when it comes to repayment.

How many licensed moneylenders have been complained about to the Financial Regulator? How many illegal moneylenders have been brought before the courts over the past two years? I suspect none. Those agencies that deal with those on poor incomes, such as the Society of St. Vincent de Paul and MABS, state the problem of illegal moneylending is a significant issue in most cities. It would bear well on us to find out if we have prosecuted any illegal moneylenders.

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