Whether it’s Halloween or not, one thing we all need to know is #LoanSharksAreMonsters!!!
Don’t get bitten by one, it can cost you an arm and a leg.
From October 24 till October 31 is marked as National “Stop Loan Sharks” Week. The England Illegal Money Lending Team has created a nationwide public awareness campaign with the goal of increasing knowledge on how to recognize, prevent, and report loan shark acts.
According to a report carried out by CSJ (Centre of Social Justice) approximately 1.1 million people are in debts to Loan sharks in England.
This is why we provide safe saving accounts and Loans at low rates. We commit to promote financial well-being and support to our community by raising awareness about Loan Sharks.
BDCU works with IMLT (Illegal Money Lending Team) to raise awareness amongst our community about Loan sharks by offering them to join Credit Union.
We encourage people to save regularly and provide loans at a low rate when emergencies arise. Especially to those who are unable to get a loan from a High Street Bank which is the main reason for people to turn to Loan Sharks.
BDCU works with the Illegal Money Lending Team and in Bradford a 45-year-old has been arrested in September on suspicion of illegal money lending by the help of Bradford District Credit Union and West Yorkshire Police. You can read further information here.
If you are concerned about a loan shark, please use this helpline:
Tel- 0300 555 2222