PREDATORY MARKETING and the Vulnerable in Society
Submitted by Cherfleur
Courts (Barbados) Ltd aka Unicomer is offering Cash Loans at THIRTY PERCENT interest.
How are they doing it and to whom?
Courts advertises in the Classifieds section with the entreaty of waiving the payments for six months if and when the customer is made redundant. Naturally the who are the young vulnerable teen mothers, most of whom are in the Informatics Industry in the Harbour industrial Park.
It’s a wretched pipeline, like the ‘cradle to grave’ one in USA. Desperate to acquire much needed items on a subsistence wage, this group of the population in this sector is easy prey to such predatory practices and false marketing.
Crucible recently laid off a second batch of employees for this year. In June they advised the Labour Department that they lost a Contract and was forced to sever employees but that the amount was less than the 10% that would require Union/Labour Department Consultation. I would hope that Mr Mayers of the Labour Department investigate to ascertain whether Crucible lost another Contract in this half of the year or it is the same Contract they are now relieving more employees from. Working the loop holes of the Law (perhaps not).
Whatever the situation these employees are now on the bread line and some of them who had these treacherous loans from Courts approached the firm and applied to get the waiver only to be told by the floor Representatives that they do not know or never heard of such offerings. FALSE ADVERTISING.
So unemployed and cash strapped these vulnerable ladies have to cough up much needed dollars to service these illegal loans.
Courts is not licensed to lend money’ or are they? Nevertheless 30% is Usury. The Banks and Credit Unions are being had by Courts.
Attempts to reach the Director, Consumer Finance or the Marketing Manager went unanswered.
30 RASSHOLE percent!
MERRY CHRISTMAS EVERYBODY.