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Seanad
‹ Order of Business

Illegal moneylender intimidation

Summary

Senator Hayden describes an elderly woman’s coercive moneylending ordeal, prompting calls for legislation and stronger protection against abusive lenders.

Many Members would have been driving during the Joe Duffy show today and I do not know if any of them heard-----

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David P.B. Norris Senator David Norris Independent

Yes.

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-----a deeply distressing horrifying interview with an elderly lady-----

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David P.B. Norris Senator David Norris Independent

Appalling.

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-----who borrowed €2,000 from a moneylender and was to repay €5,000 at the rate of €100 per week. The moneylender concerned kept her social welfare card and met her at the social welfare office each week when she went in to get her money. She paid for more than 30 weeks. On, I think, the 32nd week, she was unable to pay the entire amount and he threatened to break both of her legs. She has already pawned her furniture and sold her jewellery, and is in a desperate situation. Whether what that moneylender is doing is beyond the law is not really the issue in this circumstance. This lady is terrified and is afraid to go anywhere near the authorities.

This raises the following issue for this House. We live in desperate times. People are doing desperate things. I would ask the Leader to bring this to the attention of the Minister responsible for consumer protection and financial regulation. We, as a Government, have a responsibility to ensure vulnerable persons are not prey to the likes of this ruthless, abhorrent person. The elderly lady cannot be the only victim of this man's activities. The Garda in that location must be aware of that man's activities. I ask the Leader to put it to the Minister concerned that we need a national public awareness campaign of the dangers for ordinary people to go to moneylenders. We must have also a campaign highlighting the value of credit unions to the vulnerable. This is a dreadful situation and there are many more vulnerable people out there in this type of situation.

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David P.B. Norris Senator David Norris Independent

Well said. We might need legislation too.

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