Week of action in Malvern to warn about loan sharks
A special week of action is being held in Malvern next week to help people avoid loan sharks and find out about safer ways to borrow money.
The England Illegal Money Lending Team (IMLT) is working with Platform Housing, West Mercia Police, Malvern Hills District Council and Worcestershire Trading Standards on the Bite Back event.
Dave Benbow, head of the IMLT, also known as Stop Loan Sharks, said: “Illegal lenders are often well known in their communities and can target the most vulnerable.
“They can appear to be a friend at the start but once someone has borrowed, they can quickly become nasty, using threats and intimidation to enforce payment and charging high amounts of interest.
“We want to make sure everyone knows what their options are and where they can turn to for help if they have been targeted by an illegal lender.
“If you need any advice, keep an eye out for our mascot Sid the Shark and come and speak to a member of the team.”
Cllr Natalie McVey, Portfolio Holder for Housing and Poverty Alleviation (with responsibility for crime matters and community safety) at Malvern Hills District Council, said: “I am pleased the council is supporting Bite Back Week and raising awareness of the dangers of loan sharks and illegal lending. When someone is struggling financially, they might feel a loan shark is the only option, however, there is support available. We would encourage them to contact Stop Loan Sharks and to also visit the ‘Support and Advice’ page on our website”.
Marion Duffy, chief operations officer at Platform Housing Group, added: “Platform Housing Group is delighted to be working in partnership with the England Illegal Money Lending Team, to deliver a range of events across our communities, to raise customer awareness about the dangers of borrowing money from loan sharks.”
On Monday, August 12, from 11am to 1pm, the team will be in Church Walk, Great Malvern.
On Tuesday, August 13, from 10am to 12.30pm there will be a Loan Sharks/Scam Event at Vale Community Hub in Swinyard Road, Malvern.
Thursday, August 15, will see the team at Malvern Football Club Help Centre in Langland Avenue, Great Malvern from 10am – 12.30pm and later, from 1pm – 3pm, at Clarence Park Retirement Home Loan, Great Malvern.
On Friday, August 16, from 10am – noon, the team will be at the Octagon Centre Community Cafe and Pantry drop in Brookfarm Drive, Great Malvern and on a walkabout on the Brookfarm Drive estate.
The warning signs that someone may be a loan shark include:
- Giving you no paperwork or agreement on a loan
- Refusing to give you information about the loan
- Keeping items until the debt is paid such as your bank card or passport
- Taking things from you if you don’t pay on time
- Adding more interest or charges so the debt never goes down
- Pretending to be your friend at first, but then using intimidation, threats or violence if you can’t pay
This year marks the 20th anniversary of the IMLT. Since its launch, the team has supported over 31,700 people and written off over £91.3 million worth of illegal debt, securing over 420 prosecutions for illegal money lending, leading to over 600 years in jail.
Anyone who has been affected by illegal money lending should call the Stop Loan Sharks 24/7 Helpline on 0300 555 2222 or access support online at www.stoploansharks.co.uk. Live Chat is available on the website from 9am to 5pm, Monday to Friday.
