Published: Friday, 18th November 2016
The England Illegal Money Lending Team (IMLT) in partnership with Cannock Chase Council and Staffordshire Police are launching a new campaign in Rugeley to raise awareness of the dangers associated with borrowing money from loan sharks.
The 'Bite Back’ campaign is a week-long initiative which will start on 21st November in Rugeley. During the week, IMLT Staff will deliver training sessions to frontline staff and Police to help combat loan sharks and direct victims to the appropriate help and support available.
On 25th November, IMLT staff with the assistance of Staffordshire Police will participate in a leaflet drop targeting a number of streets within the Rugeley area. Residents can also expect to see ‘Stop Loan Sharks’ beer mats appearing in pubs across Rugeley as part of the large movement to tackle loan sharks.
During this Week of Action, IMLT and partners will be tweeting using the hashtag #StandUpToLoanSharks where advice and guidance on where to get help will be promoted.
Councillor Carl Bennett, Leader of Crime and Partnerships at Cannock Chase Council said:
“Cannock Chase Council is committed to keeping the District a safe place in which to live. We work closely with our partners to address any issues within the community and give our residents assurance.
“This initiative in Rugeley is a great way to raise awareness about the dangers of loan sharks and to encourage residents to report this crime if they have been a victim.
“We would encourage anyone who is experiencing debt problems to contact Fusion Credit Union, who can offer its services to members at an affordable rate. Visit www.fusioncreditunion.co.uk to find out more. Alternatively, residents can contact the Citizen’s Advice on 03444 111 444 or visit www.citizensadvice.org.uk”
Duncan Rollo, Partnership Manager at Staffordshire Police comments:
“This type of crime that IMLT and Staffordshire Police deal with is ever evolving and it is sometimes hidden within communities. This type of activity can be a blight on the lives of people who are sometimes vulnerable. The campaign will raise awareness to prevent people falling into this trap and also to offer help to those who are already suffering as a consequence of loan sharks”
An estimated 310,000 households across the country are in debt to a loan shark.
These criminals usually appear friendly at first but quickly trap their borrowers into spiralling debt. As the debts can’t legally be enforced many lenders will resort to the most extreme and callous methods to enforce repayment including threats, violence and intimidation.
Paperwork is rarely offered so victims are often in the dark as to how much they are actually paying. Excessive amounts of interest are added at random, with the highest interest seen by an illegal lender being equivalent to over 4 million per cent
Tony Quigley, Head of the England Illegal Money Lending Team comments:
“We’re pleased to be working with our partners at Cannock Chase Council and Staffordshire Police to launch a ‘Bite Back’ Week in Rugeley.
“Illegal money lending is a despicable crime which causes nothing but harm to our communities. These lenders may appear to be offering a community service but borrowers are often forced to pay back far and above what they have borrowed and can afford. Many are subjected to threats, violence or other callous enforcement methods.
“We would urge anyone who has been the victim of a loan shark to report them in confidence on 0300 555 2222, your call will be dealt confidentially by one of our trained investigators.”
Nationally the Illegal Money Lending Teams have secured more than 354 prosecutions for illegal money lending and related activity, leading to 298 years’ worth of custodial sentences. They have written off £71.75 million worth of illegal debt and helped nearly 26,000 victims.
To report a loan shark:
Call the 24/7 confidential hotline 0300 555 2222
Text ‘loan shark + your message’ to 078600 22116
E-mail reportaloanshark@stoploansharks.gov.uk
Private message us on www.facebook.com/stoploansharksproject