Free advice in bid to beat the loan sharks
Free advice on how to defeat the tactics of loan sharks is being offered to Shropshire landlords and tenants' representatives as part of a new initiative.
A series of training sessions have been organised by the Trading Standards-led Illegal Money Lending Team and will be held at venues across the county beginning on October 24.
The events will profile how loan sharks tempt their targets into borrowing money at inflated rates of interest, including the tactics they use to confuse people and hide the real costs of the loans they offer, as well as the consequences of failing to keep up with repayments.
The events have been sponsored by the Shropshire Financial Inclusion Board which involves representatives from Jobcentre Plus, Shropshire Council, the Department for Work and Pensions, Citizens Advice Bureau, disability charity, A4U, and Shropshire Housing Group, which represents all of the county's registered social landlords on the board.
Ann Sutcliffe, Executive Director - Neighbourhoods, of Shropshire Housing Group, explained: “Loan sharks prey on people they know or expect to be in need of money at short notice, but the pattern of their behaviour is such that they often put people into unmanageable financial situations that are worse than when they started taking the loans.
“The aim of these workshops is to ensure that tenant representatives and landlords are able to understand the loan sharks' tactics and spread advice on being cautious to those householders they come into regular contact with. We believe the information will prove extremely valuable to people.”
Each of four dates for the free sessions will offer both morning an afternoon slots, giving flexibility for attendees, the first between 10.30am and 12pm and the second from 2pm to 4.30pm.
The first event will be held in the Council Chamber, at Shrewsbury Guildhall, on Monday, October 24, the second at Shropshire Housing Group's headquarters, The Gateway, Craven Arms, on November 7, the third at Severnside Housing, Severnside House, Old Potts Way, Shrewsbury, on November 17 and the final one at the Council Chamber, Castle View, Oswestry, on November 23.
Anyone interested in attending should book their space in advance by emailing enid.briggs@sshropsha.co.uk or calling Enid Briggs on 0300 303 1190.
