Aberdare Candidate Slams ‘Outrageous’ Charges
January 9, 2009 « Previous Page — Next Page »
Charges levied by a money-lending company, seeking customers in the Cynon Valley, have been branded ‘outrageous’ by Plaid Cymru’s parliamentary candidate, Dr Dafydd Trystan Davies.
His comment came after former councillor John Codd passed on to him a leaflet he had received at his home in Abercwmboi.
Aberdare-born Dr Davies said: “The leaflet offers a loan at a rate of the equivalent of 183.2 per cent a year, which is outrageous.
“The company is clearly trying to prey on people who cannot – or think they cannot – get a loan by other more reasonable means in these troubled times.
“They give an example of lending £300 to be repaid over 56 weeks, and the total repayment would be a staggering £504.
“The One Wales Government at the National Assembly, which is run by a coalition of Labour and my party, Plaid Cymru, has a policy of supporting credit unions and I am glad to say they now have all-Wales coverage.
“I would urge people to get in touch with their credit union, which offers low-interest loans to members, rather than pay exorbitant rates of interest on their loans.
Anyone wanting more information on credit unions can contact their freephone helpline on 0808 1454550.
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