If you're worried about money in the run up to Christmas, here's some important advice from PHP's Your Money Team about the dangers of loan sharks.
You may think a small loan to tide you over the Christmas period will solve your problem, but it could cost you far more than you think, and not just financially.
If you borrow from a loan shark you are unlikely to receive:
Clear guidelines regarding your loan
A detailed repayment scheme
Confirmation of what you owe and what you’ve paid
Instead, you could get:
But there is another way. Credit unions offer a safe and legal alternative. Coastal Community Savings & Loans (CCSC) is a locally based credit union which has a base at Beech House. If you want to know more about CCSC, just pop in or contact the team on 01202 566878.
If you are already the victim of a loan shark, help is at hand. The Stop Loan Sharks Project has already successfully secured 321 prosecutions across the country. These have resulted in over 205 years worth of prison sentences and £62m of illegal debts written off. The project can and will help you to write off your debt too!
Contact the Illegal Money Lending Team on 0300 555 2222. Lines are answered 24/7 by a trained investigator throughout the festive season.
You can also contact the Your Money Team in confidence. Call 01202 264400 or complete this contact form.