Stop Loan Shark’s

Just short of a fortnight ago, a meeting took place on Gamesley with a range of agencies in attendance to look at issues around ‘financial inclusion’, with one of the issues mentioned being around access to credit, and the need for better alternatives than either the legal (such as Wonga and the like – with apr’s of over 4000%) or illegal loan sharks.

In terms of alternatives, various options around getting a credit union operating in the High Peak are being considered, however unfortunately these options will take some time before they become a usable option.

To get something in place quicker especially with Christmas coming up, some options are being considered around around some sort of savings club and I will advise more details on those when I know them.

Getting back to the topic of the post, one of the folk in attendance at the meeting was from the Illegal money lending team, who are tasked with trying to stop loan sharks, and they produce the leaflet pictured, which although aimed at ‘advice workers’ give a number of useful steps you can take to try to tackle ‘loan sharks’.

If you click on the picture it should become readable, or alternatively copies are available from the GRA Office.

You can also get advice by calling 0300 555 2222 – emailing reportaloanshark@stoploansharks.gov.uk, visiting www.direct.gov.uk/stoploansharks or texting loan(space)shark(space) + your message to 60003.