Milton Keynes City Council has partnered with The Illegal Money Lending team to warn people about the dangers of using illegal loan sharks.
Local people can drop into events put on by the city council during ‘Bite Back Week’ (26 to 30 June) to learn about the risks involved in taking money from loan sharks, and how to find alternatives. These unscrupulous lenders prey on people in need of help and trap them into a cycle of debt with threats of violence.
Events are on:
- 27 June, 10-11am – York House Centre Larder
- 27 June, 1pm-4pm – Water Eaton Larder
- 29 June, 9am-midday – Olney Market
- 30 June, 2pm-4pm – Lidl, Brooklands
As part of the awareness week, frontline professionals from the city council and its partners are receiving refresher training on how to spot loan sharks and how to help victims.
“With sharp rises in the cost-of-living, we know that loan sharks are using this as an opportunity to prey on vulnerable people. We run these events to make people aware of the dangers and to offer them the right support.
“This week we’ll be making it very clear that no one needs to turn to these cowardly criminals for money. We’ve put on a range of support for people struggling financially and we’ll always be there to help people who need it the most.”
Rises in the cost of living has left some people struggling to find the extra money for essentials. Help is available and it’s best to ask for help early before you get far into debt. Find more at www.milton-keynes.gov.uk/cost-living-support.
“This crime has a devastating impact on people’s lives and we hope that by raising awareness of the problem, residents will be able to spot a loan shark and get help and support if they have been bitten. We would always encourage people to report any concerns about illegal money lending they have to us. The helpline is open 24 hours a day and there is lots of useful support information on our website and IMLT app.”
The IMLT app makes it quicker and easier for people to report loan sharks and access support services. The Stop Loan Sharks app includes a contact form and phone number to report loan sharks, as well as information to help victims of illegal money lending to get support. It also offers users advice on the tell-tale signs that someone is a loan shark. These include offering cash loans without any paperwork, charging extortionate interest, use of bank cards as security, and threatening behaviour or violence to get money.
To report a loan shark, call the 24/7 confidential helpline 0300 555 2222, text a report to 078600 22116 or complete a secure form online. Live Chat is available 9am to 5pm, Monday to Friday at www.stoploansharks.co.uk.
The Stop Loan Sharks app is free to download on both iOS and Android devices from the Apple App Store and Google Play Store.