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Don’t Borrow From Loan Sharks

No Matter how hard your circumstances may seem always BEWARE OF LOAN SHARKS. If someone turns up at your door offering easy cash don’t be tempted as the interest will most likely be far higher than any payday loan provider will offer and things will soon start to change after the provider of cash has handed it over.
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Loan Sharks!

Loan Sharks! (Photo credit: Jeanminou)

On an ITV News feature today it is claimed that some 315,000 UK residents use illegal door stop loans from rouge loan sharks who simply want more and more. The scale of this is far higher than anyone can imagine as Loan visits which include equally men and women feel afraid to come forward for fear of reprisal and further force or intimidation. Some people report of being beaten up in their own homes in front of their children or use of threats against the family as a means of instilling fear into the loan victim. The debts just keep going up despite you making repayments, so AVOID AT ALL COSTS. There are legitimate companies out there that offer help for people of any circumstances without the need to resort to these illegal lenders.

Loan Shark Victims

Special teams made 565 loan shark investigations last year into people who have borrowed money from these people. According to statistics many people are aged over age 55 with the victims being an equal spread of both men and women, however many men don’t come forward or are a little unwilling to admit they need help or feel intimidated as they are scared of the consequences.

Whatever you do however desperate you might think you are do not under any circumstances succumb to Loan Sharks, otherwise your debt will spiral in a very unsavory way.

You can report a loan shark  here

Illegal money teams are set up in most parts of the country here is one in Birmingham

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