Help offered to victims lured into traps of spiralling debt
Victims of loan sharks should not suffer in silence, says the region's police and crime commissioner at the start of a campaign to stop wrongdoers in their tracks.
Loan sharks are criminals who prey on the most vulnerable people in communities by trapping them into spiralling debt and will often use intimidation and violence.
The Stop Loan Sharks campaign is spearheaded by the England Illegal Money Lending Team (IMLT) and is supported by West Mercia Police and Crime Commissioner John Campion.
Mr Campion said: “Loan sharks can have such a detrimental impact in our communities leaving people living in fear.
"It is right that those affected can access the right kind of help at the right time, and that this specialist team exists to tackle the problem through enforcement and education.
"If you or someone you know is involved with a loan shark, please contact the team in confidence.”
The national IMLT provides specialist support for victims and communities affected by this crime, helping people to get away from the loan sharks.
It works closely with agencies including the police to ensure people aren’t financially exploited and at risk of threats, violence or other criminality.
Tony Quigley, head of the IMLT, said: “We are determined to warn residents about the dangers of loan sharks, and we will work with partners to take action against them.
“Loan sharks are criminals that prey on the most vulnerable people in our communities. They trap their victims into spiralling debt and will often use intimidation and violence.
“Our message to anyone who is a victim of loan sharks is that they are not alone and to please not suffer in silence, we will support you.”
People are urged to look out for the warning signs when dealing with a loan shark:
They give little or no paperwork
Avoid telling you the interest rate or how much is still owed
Add random charges or keep increasing the amount
Take items as security, such as passports, bank cards or driving licences
Refuse to allow you to settle your debt
Resort to intimidation, threats or violence
May pretend to be your friend but turns nasty when money is owed’
Anyone who is concerned about debt or getting into financial difficulty can contact Citizens Advice on 0800 144 8848 for advice and support.
