January is a particularly difficult time of year for many families and single people in Derry due to financial pressures in the weeks and months after Christmas and the New Year. More and more people in Derry are finding themselves in debt that they have no realistic chance of repaying, due to the current economic downtown, and therefore finding it hard to pay basic household bills.
I would also advise anyone who finds themselves in such situations to seek help with debt advisers straight away no matter how big or small their problem is, and to contact their local Credit Union.
Unlike the impersonal nature of many banking institutions the Credit Union has always been community based and welcoming of all irrespective of financial situation. For this reason communities embraced the Credit Unions as the ‘People’s Bank’. Credit Unions are now part of the social fabric of most communities.
It is important that people who are overwhelmed by debt are given an opportunity to find a way out of their misery and get their lives back on track.
I am calling on those who are burdened by debt to get advice immediately so that help can be applied on getting them into a situation where they are able to manage the problem without causing themselves severe economic hardship.