War on the loan sharks
Last updated at 11:55, Thursday, 06 December 2012
CUMBRIA is cracking down on loan sharks this Christmas, as 20 per cent of victims say they originally borrowed to pay for festivities.
The England Illegal Money Lending Team, in partnership with Cumbria County Council, say they are determined to stamp the problem out.
Angela Jones, Cumbria County Council’s Trading Standards manager, told The Whitehaven News: “Illegal money lending is a despicable crime and we are determined to stamp out this problem in Cumbria.
“We want residents to know that there are alternatives to borrowing from a loan shark, such as Credit Unions which are based within communities and offer low interest rates.
“Please don't let loan sharks ruin your Christmas – if you are approached by a loan shark we urge you to report it to the team in confidence.”
Loan sharks rarely offer paperwork and are unclear on the terms of the loan, so borrowers are completely in the dark as to how much they are actually paying. Extra amounts and interest payments are added completely at random, so the debt spirals.
To highlight the impact loan sharks can have the England Illegal Money Lending Team has released a video compilation of real life victims’ stories.
Watch the video on You Tube http://youtu.be/-EIyIMHdOtc
Anyone with any information can ring the confidential hotline 0300 555 2222
Text ‘loan shark + your message’ to 60003
E-mail reportaloanshark@ stoploansharks.gov.uk
Private message us on www.facebook.com/stoploansharksproject
First published at 11:48, Thursday, 06 December 2012
Published by http://www.whitehavennews.co.uk
Have your say
Be the first to comment on this article!
Make your comment
- Increase in council tax and parking fees loom
- Copeland Council owe £15 million for £5 million loan (6 comments)
- Booming Ennerdale Brewery expands (2 comments)
- High-flying Vicky raises £10,000 (3 comments)
- Whitehaven mayor will be poorest paid in UK (13 comments)
- Kai showcases talent at Billy Elliot audition (1 comment)
- Much-anticipated maternity services report delayed
- Partially-sighted man denies sex assaults
- ‘We’re still standing for mayor despite pay row’
- Sellafield clean-up bill soars to ‘astonishing’ £53 billion
- Broker's backing a big rise for Stobart shares
- Cumbrian consultants in running for award
- Aldi plans to expand Carlisle store
- Stobart: Carlisle Airport redevelopment finished by September
- Cumbrian chef launches food and cookery channel
- Barrow lettings firm aims to spread the word
- Africa expansion drives up Barrow shipping firm’s profits
- Sixth formers all fired up for dream places at work
- Gearing up for a Barrow showcase of next generation of jobs
- Software company’s digital marketplace role
- Barrow community heroes to follow in footsteps of 2014 winners
- Colourful characters mark World Book Day in South Cumbria
- Sounds like teen spirit was key to orchestra’s success
- Police probe spate of rural burglaries
- Seville oranges mistake bears fruit for Cumbrian woman
- Villagers want to take on closure-threatened shop
- Fines over dog fouling and litter in Carlisle clean-up campaign
- Fine piles on agony for 'dangerous' cyclist after crash
- Cumbrian drug stash man jailed for two years
- Temporary fix for closed Millom tip