Flintshire Council backs awareness campaign as more struggling families turn to loan sharks
Loan sharks are exploiting the cost of living crisis to prey on the most vulnerable families.
It is a shocking fact that over one million adults in the UK have borrowed money from a loan shark and are suffering as a result.
With more and more people unable to cover everyday expenses such as clothing, paying bills or feeding their family, many are being forced into debt and turning to borrow money from illegal lenders or loan sharks.
Illegal money lending is on the rise and is known to have serious consequences and yet, people across Wales are still seeing this as their only option.
Flintshire County Council is supporting a campaign that aims to raise awareness of illegal money lenders and educate those at risk of the implications when engaging with them.
The council said: “Times are tough and the impact of the pandemic, combined with the increase in the cost of living, means people are struggling to make ends meet – with many unable to cover everyday expenses such as clothing, paying bills or feeding their family.”
“The temptation of falling into an illegal money lender’s trap will seem like the only option.”
“We want to make people aware of the dangers of illegal money lenders, who they are, where they are and what they can do. We need to raise awareness of Stop Loan Sharks Wales as a place where victims can get the help and support they need.”
Cabinet Member for Planning, Public Health and Public Protection, Councillor Chris Bithell, said:
“Flintshire is committed to helping residents cope with financial difficulties in the current climate and that’s why we recently launched the “cost of living support hub” on our website.
“Equally, we need to make people aware of how to avoid these unscrupulous individuals who prey on vulnerable and desperate people. They may appear friendly and helpful at first, but they can lead people down the path of spiralling debt.”
That’s why we are supporting the ‘Wales Illegal Money Lending Unit’ campaign to raise awareness of how to avoid loan sharks and how to get help and support.”
Billy*, based in South Wales, described how he was abducted from his home in the middle of the night, taken to a field and ordered to “dig his own grave” after a late debt payment.
On another occasion he was told: “You have got two kids haven’t you? It would be a shame if someone ran over one of them wouldn’t it?”
Billy, who says he borrowed more than £30,000 from loan sharks, said: “They don’t care about you, your kids – they will take everything you got and then some.”
*Named changed to protect identity
Spotted something? Got a story? Send a Facebook Message | A direct message on Twitter | Email: News@Deeside.com
Latest News
