Rooftop Housing Group has won national recognition from the England Illegal Money Lending Team for its work to support the fight against loan sharks.
The housing association, which manages 7,000 homes across Worcestershire and Gloucestershire, is now an official accredited partner of the IMLT, the national body that investigates and prosecutes loan sharks and supports borrowers.
Rooftop has been given the status in recognition of its ongoing commitment to tackling illegal lending in the local communities. The team has worked closely with Stop Loan Sharks to raise awareness of the dangers of illegal money lending among customers, displaying campaign materials, sharing key messages and undergoing training in how to spot the signs of an illegal lender and make sure those affected get the help they need.
Dave Benbow, head of the IMLT, also known as Stop Loan Sharks, said: “The team at Rooftop Housing Group has already shown a real commitment to supporting the local community, and we are delighted to welcome them as an official Stop Loan Sharks partner.
“Housing organisations are on the frontline of our communities and may come into contact with people who are being targeted by illegal lenders. By knowing how to spot the warning signs, staff can help make sure those affected get the support they need as quickly as possible.
“Illegal lenders often exploit trust, friendships and their reputation within communities to target people. By working with organisations such as Rooftop Housing Group, we can raise awareness of the dangers of loan sharks, connect people with safe and reliable support, and make sure anyone affected knows where to turn for help. Thanks to everyone at Rooftop for their support.”
Rooftop Housing Group’s chief executive Boris Worrall added: “We’re delighted to be awarded Partner status by the England Illegal Money Lending Team (IMLT).
“Tackling illegal money lending starts with awareness. As a housing association, we are committed to equipping our staff with the knowledge and confidence to recognise the signs and support our customers. By working with IMLT, we are raising awareness to prevent our customers from borrowing from a loan shark, sharing information and helping customers access the right support to keep our communities safe.”
Many illegal money lenders are well known within their communities and are often introduced to borrowers through friends or family members. They are unregulated and give loans with no paperwork, often adding charges and high interest to loans. They can resort to threats, intimidation and even violence if repayments are not made.
Because these lenders are not registered with the Financial Conduct Authority, borrowers do not have the protection of consumer law such as cancellation periods and the ability to apply for help if they can’t pay. This can cause huge amounts of stress and impact other finances – leaving them unable to pay rent or other priority bills. Anyone who has been affected by illegal money lending should call the Stop Loan Sharks 24/7 helpline on 0300 555 2222 or send a WhatsApp message to 07700 102773. More information and other ways to get in touch, including a Live Chat service, can be found at www.stoploansharks.co.uk. Live Chat and WhatsApp are available 9am to 8pm, Monday to Friday.
