Don’t Get Bitten By A Loan Shark This Christmas!

Middlesbrough Council are working with the Illegal Money Lending Team (IMLT) to steer residents away from borrowing from loan sharks in the lead up to Christmas.

Download the full information here

A loan shark is someone who lends money illegally without the correct authorisation from the Financial Conduct Authority (FCA). Loan sharks normally appear friendly at first, but this behaviour soon changes once monies are owed.

Christmas is a prime time for loan sharks – these criminals are swimming around on housing estates, looking for the next vulnerable person to exploit.

Residents can check if someone is authorised to lend money by visiting the Financial Conduct Authority’s website and searching for a company, person or postcode through their Financial Services Register

To get help with debt and budgeting, visit your local Citizens Advice Bureau. If you need a cash loan or would like to open a savings account in preparation for Christmas, visit https://www.findyourcreditunion.co.uk/ to find your nearest credit union.

To report a loan shark:

 

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