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Households here are ‘facing into a financial tsunami’

THERE will be “a second tsunami” of financial distress for Fermanagh households coming after the Covid-19 crisis is over, and the powers-that-be must do more to help when it comes.
That is the message from a local debt advice expert who works closely with families and individuals in the local area who are in financial difficulties. The community worker has said while there are some supports available at the minute, many in Fermanagh will struggle to cope with the fall out of the lockdown.
Pointing out with households spending all day at home right now, eating more food and using more electricity, their household bills will likely be increasing, he said while rates bills have been delayed and banks are offering mortgage holidays, the same amount of money will still be owed to the same organisations once the lockdown is lifted. 
“After three months, the bills are still going to be there, building up,” he said.
“Those who can’t pay their bills at the minute are on a beach, and there is a six foot wave coming for them,” he said. “They will look around and think they can get through this, but then, in three months time or however long it takes, they will look around and see a 20 foot wave coming. Imagine that beach in your mind, there will be men and women running after them with papers in their hands saying excuse me, you’re behind with this, you’re behind with that. 
“That’s the next tsunami that is coming for people.”
Acknowledging that the current lockdown was necessary, he said the government must begin thinking about what support they will offer when the lockdown is lifted. 
“We all hope for the day when this is over, but then we’re going to have to reorganise again. 
“We will have to reorganise to get money to help families,” he said. “When the time comes are we going to get the same help for the families when they are in dire straits?”

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The Fermanagh Herald is published by North West of Ireland Printing & Publishing Company Limited, trading as North-West News Group.
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