C'mon Stacey, let's tackle debt!
"C'mon Stacey, let's tackle debt!"
Wednesday 22 June
Debt-free Newtown is launching their campaign “C’mon Stacey, let’s tackle debt!” on Friday 24 June at lunchtime.
A group of concerned locals from Newtown are inviting Stacey Jones, kiwi league legend, to reconsider his promotion of Instant Finance, in order to tackle debt among low-income communities.
“Stacey Jones is a true role model to many people in low-income Maori and Pasifika communities. It’s those communities in particular who are over-represented as clients of high-interest lenders like Instant Finance, with all the resulting financial and social hardships that are well-documented by budgeting and social service agencies throughout the country,” says Mark Barnard, Debt-free Newtown spokesperson.
Downtown Community Ministry (DCM) wholeheartedly supports Debt-free Newtown in their campaign.
“Debt is a major issue for DCM service users, so we fully support this initiative.” says Stephanie McIntyre, director of DCM.
“There is an unnecessary proportion of our clients who have these types of loans and have defaulted on payments. The loans are easy to get, but expensive to pay back. Then the loan gets referred to debt collection agencies, making the problem worse,” says Dougal Spier, senior social worker at DCM.
Debt-free Newtown point out they are not targeting Instant Finance specifically, but using it as a way to promote awareness generally. They believe that Stacey Jones should consider the broader social implications of his celebrity endorsement.
Instant Finance charge a standard 29.5% interest rate on loans, and also charges an administration fee.
Debt-free Newtown launches the campaign, on Friday 24 June at middayby the playground on the corner of Riddiford and Constable Streets, Newtown. There will be an opportunity for people to sign letters asking Stacey to consider the impact his endorsement of Instant Finance has on those with low incomes.