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“I’m putting down my jewelry so I can eat!”

“We’re not even halfway through the month and it’s already complicated for us, so I have no choice but to come here!“This is the third time that Laura has gone to municipal credit. Dressed very simply, all in black, this mother of two twins came to deposit two gold rings. She hopes to obtain a loan of 100 eurosto end the month“. In six months, she will be able to recover her property, once she has repaid the money lent.

Before her, her parents used to put their engagement ring here, “during hard times“. Municipal credit is a historic institution. In Nancy, it has existed for almost 200 ans. “It is an old and cyclical method“, according to Michel Côme, director of the municipal establishment in Nancy. “It fluctuates according to the economic and social context.”

A pledge loan to finance essential expenses – Michel Côme, director of Crédit municipal in Nancy

Michel Côme, director of Crédit municipal in Nancy © Radio France
Emma Dehoey

Since prices soared to 4.8%, municipal credit is considered a quick and inexpensive solution to deal with financial difficulties. “In the supermarkets, everything has gone up. Doing a pawnshop is my last resort”laments Laura, from Nancy.

10% increase in attendance

“Originally, the pawn loan was used to finance travel. Today, the economic situation has changed. People go to credit because they need money, to consume basic necessities.” On average, pawnbrokers are 700 euros in Nancy. However, Michel Côme sees an increase in loans of fifty euros. “It allows you to fill up, run errands, pay rent or late bills.

Behind Laura, Dalila waits patiently. She is a regular at the place. Since her economic situation has weakened, she comes to municipal credit every three months. With a ring and a gold bracelet, she hopes to obtain a loan of 200 euros. “Enough to pay the last bills of the month.”

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