Regulators to get tougher on Loan Sharks

Regulators to get tougher on Loan Sharks

With Credit still being hard to obtain some people are so desperate they are turning to anyone they can to give them a short term hand. However, the Office of fair trading and Trading Standards office are steping up their action against loan sharks.

Around 200,000 leaflets and posters will be handed out to warn people of the dangers involved in borrowing from Loan sharks.

It is estimated that around 165,000 in Britain currently borrow money from Loan Sharks. The campaign is to highlight the trouble with Loan sharks including the chances of paying exorbitant interest rates and the possibility of suffering threats and violence. If you believe you have borrowed from an illegal money lender or you are having trouble with a lender and you believe you may be in danger, please click the link below for help

http://credit4everyone.co.uk/news-2/your-money/regulators-to-get-tougher-on-loan-sharks?xurl=http%3A%2F%2Fwww.oft.gov.uk%2FOFTwork%2Fconsumer-protection%2Fcampaign10-11%2Floan-sharks%2F

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Category: Your Money