Campaign to highlight dangers of using loan sharks to visit Telford

The Illegal Money Lending Team (IMLT) have teamed up with Citizens Advice Telford and Telford & Wrekin Council to launch to visit locations across Telford and speak to residents about illegal money lending and promote the help and support available to loan shark victims.

The campaign has come about after a 40-year-old Telford man was arrested on suspicion of being a loan shark on 9 November.

Tony Quigley, Head of the England Illegal Money Lending Team, said:

“Illegal money lending is a despicable crime which causes nothing but harm to our communities. These lenders may appear to be offering a community service but borrowers are often forced to pay back far and above what they have borrowed and can afford. Many victims are subjected to threats, violence and other callous enforcement methods. We would urge anyone who has been the victim of a loan shark to report them in confidence on 0300 555 2222 or visit www.stoploansharks.uk”

An estimated 310,000 households nationally are borrowing from illegal money lenders, many of whom charge exorbitant rates of interest to trap people into a spiral of debt. Many loan sharks will resort to bullying tactics, such as intimidation, threats and even violence to enforce repayment.

Christmas is a prime time for loan sharks; these lenders are swimming about on estates, looking for the next vulnerable family to target. Loan sharks often prey on those who would struggle to access credit through legitimate sources.

The campaign will visit a different venue each day between 10am-4pm:

- Monday 27 November: Telford Jobcentre Plus, Telford House, Southwater Way, TF3 4PD

- Tuesday 28 November: Telford Foodbank, Leegomery Community Centre, TF1 6NA and Apley area (TF1 6FQ)

- Wednesday 29 November: Asda Telford Superstore, Malinsgate, TF3 4HZ

- Thursday 30 November: Branches, Strickland House, The Lawns, Wellington

- Friday 1 December: Meeting Point House, near the European Christmas Market