stay away from loan sharks
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Stay Away from Loan Sharks
Designed and promoted in public interest by YesDebtFree.co.uk
Stay Away from Loan Sharks
Source: BBC News
Women in the North East are being forced into prostitution to pay back spiralling debts to loan sharks.
Stay Away from Loan Sharks
200,000 Britons are at risk…
Stay Away from Loan Sharks
200,000 Britons are at risk…
35,000 more people may turnto loan sharks soon…
Stay Away from Loan Sharks
Who are loan sharks? They are illegal moneylenders.They are not licensed under theConsumer Credit Act and theylend money at an astronomicalinterest rate.
More Information: Wikipedia
Stay Away from Loan Sharks
Jacqui Kennedy; Birmingham Council "Loan sharks do not provide acommunity service, they prey onthe most vulnerable members ofsociety and are often engaged in awider web of illegal or dangerousactivity than the money lending alone."
Source: nds.coi.gov.uk
Stay Away from Loan Sharks
Meet Paul Nicholson
Paul Nicholson is a loan shark.
Source: Times Online UK
Stay Away from Loan Sharks
Meet Paul NicholsonWhen one woman couldnot pay he threatened topetrol-bomb her home
Source: Times Online UK
Stay Away from Loan Sharks
Meet Paul NicholsonAnother distraught debtorwas told: "Your priority isto pay me, not feed yourkids."
Source: Times Online UK
Stay Away from Loan Sharks
Meet Paul NicholsonHe forced a woman whoowed him money toperform a sex act on him.
Source: Times Online UK
Stay Away from Loan Sharks
Meet Paul NicholsonHe was convicted atWarrington Crown Courtof 18 charges includingrape, blackmailing andmany more.
Source: Times Online UK
Stay Away from Loan Sharks
They are smelling blood“The problem has developed because high
street banks and building societies haveaxed riskier lending over the past year
Source: Times Online UK
Stay Away from Loan Sharks
They are smelling blood“The problem has developed because high
street banks and building societies haveaxed riskier lending over the past yearwhile many specialist lenders, such asLondon Scottish and Cattles, havewithdrawn from the market.”
Source: Times Online UK
Stay Away from Loan Sharks
Alternatives to Loan SharkingHave you already been refused a loan by
the top tier credit companies? If yes,there is nothing to despair and no needto go to loan sharks.
Here are some alternatives:Source: YesDebtFree.co.uk
Stay Away from Loan Sharks
Alternatives to Loan SharkingAlternative 1: Sub prime lending:
Source: YesDebtFree.co.uk
It is a second chance lending that isapplicable to borrowers who do notqualify for standard loan.
Stay Away from Loan Sharks
Alternatives to Loan SharkingAlternative 2: Credit Unions:
Source: YesDebtFree.co.uk
Credit unions are co-operatives created and owned by a group of people like you.
Stay Away from Loan Sharks
Alternatives to Loan SharkingAlternative 3: Council banks/
Municipal Banks:
Source: YesDebtFree.co.uk
These are run by the government to provide financial services to the low income groups
Stay Away from Loan Sharks
Alternatives to Loan SharkingAlternative 4: Doorstep lending:
Source: YesDebtFree.co.uk
They offer small amount of loan starting from as little as £100.
Stay Away from Loan Sharks
Meet Ian Jenkins
Ian Jenkins is a loan shark.
Source: Mirror UK
Stay Away from Loan Sharks
Meet Ian Jenkins
He preyed on alcoholicsand drug addicts
Source: Mirror UK
Stay Away from Loan Sharks
Meet Ian JenkinsHe took the Post Officebenefit cards and pin codesof 55 homeless victims toget their repayments plusextortionate premiumsdirectly from their accounts.
Source: Mirror UK
Stay Away from Loan Sharks
Meet Ian JenkinsIn one case, a drug addictwho was loaned £106 wasstung with rolling dailyinterest of 30%. That workedout at eight million percentannually.
Source: Mirror UK
Stay Away from Loan Sharks
How to fight against Loan Sharks?1.Get in touch with the authorities at
http://www.direct.gov.uk/stoploansharks
2. Call the helpline 0300 555 2222
3. Email: [email protected]
4. Text/SMS details to 60003
Stay Away from Loan Sharks
What Next?Stand up and fight against them.
You have a bigger role to play - tell your friends, colleagues and family members to stay away from this trap. You know the reasons. Don’t you?
Take Initiative and Spread Awareness.
Stay Away from Loan Sharks
Designed and promoted in public interest by YesDebtFree.co.uk