Loan sharks are predatory creatures. They make a meal of the lives of vulnerable people. People who are desperate and think that they have nowhere else to turn. They need to be stopped. How can this be done? They are operating outside the law and the government is trying to look after people by putting a lot of effort and resources into rounding them up. Problem is many people do not know where to go to report such crimes. To provide information about illegal money lending activities in confidence call 0300 555 2222 , text “loan (space) shark (space) + Your Message” to 60003, or email email@example.com
Why bother surely these are people who are just being entrepreneurial and providing a service to the community? They may be fulfilling a need within a community but they are also lining their own pockets. People who borrow money from these people usually end up paying many times what they first borrowed. The problem is the people with the records are the loan sharks themselves the person who takes out the loan does not have any record of the agreement and unless they keep their own records generally have no idea how much they have repaid. Imagine borrowing money and the person who lent it to you comes back week after week month after month year after year. The repayment process never seems to stop. Not only that if for some reason a payment is missed the amount owed can go up dramatically sometimes even tripling. Those who recieve the payments can buy mansions for cash those make the payments go without food. This is not business it is criminal activity. in fact those found to be involved in illegal lending are often also foudn to be involed with other illegal activities like selling counterfiet goods or drugs.
Of course if these were legal loans the lender could threaten their customers (or more properly victims) with court action. They are not legal loans so the threats are not legal ones either. They include taking away property, threats of violence, actual violence and rape. People who are already vulnerable such as those with learning disabilities or single mothers on benefit can be subjected to some horrific behaviour. This is bullying at its worst. The idea being to terrify people into submission. It is not unknown for someone to commit suicide as they thought it was the only way to escape a loan shark.
These are vicious creatures who prey on the weak and vulnerable. They are active in communites where there is a high percentage of social housing and people who struggle to find a job. They need to be stopped. The video below shows the changes in people’s lives from stopping loan sharks.
With those sort of benefits you can see why it is so worthwhile to do soemthing about tackling this menace. If you are in England you can provide information to help fight back against illegal money lending activities in confidence call 0300 555 2222 , text “loan (space) shark (space) + Your Message” to 60003, or email firstname.lastname@example.org
Check out this site for the contact details of the teams that are working to counter this problems in Scotland and Wales. That link also gives more information about what is meant by illegal money lending.