For many people, January brings increased money worries. Sadly, this is also a time when illegal money lenders, known as Loan Sharks, may target residents.
Northumberland County Council is urging people to avoid unscrupulous lenders and seek regulated debt support instead.
If you think you may have borrowed from a Loan Shark, help is available. You can report it in confidence by calling the 24-hour hotline on 0300 555 2222.
Loan Sharks are illegal money lenders who often target people in desperate situations. They may seem friendly at first, but they typically charge extremely high interest rates – sometimes up to 3,000%. They do not provide paperwork or clear loan terms and they trap borrowers in a cycle of…