Many people are struggling with not having enough money as a result of Covid19 lockdown.
If someone you don’t know offers to lend you cash but with no paperwork, eg no credit agreement or record of payments, or if they ask for items of security such as passports or bank cards and if they refuse to confirm the interest rate, they may be a loan shark.
Loan sharks are illegal lenders who often target low income and desperate families.
They might seem friendly at first but borrowing from them is never a good idea – even if you feel you have no other options.
If you feel you have fallen victim to a loan shark you can report them, they are not above the law. The link to the government website explains what to do.
Stop Loan Sharks is a government agency that provides specialist support, help and advice for victims of loan sharks during this difficult time.
Call 0300 555 2222 to safely report a loan shark or visit their website www.stoploansharks.co.uk
Our advice team are here to help you too. They have links to local and national agencies.
You can email at email@example.com or phone on 01672 487022
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