Loan Sharks Lending Money How Far Will They Go? – There is an interesting article on the BBC News website and there seems to be no boundaries on what loan sharks will do to get lending money to vulnerable people.
Please be very careful when you need money desperately, as it is easy to fall into the trap of getting your hands on the cash no-matter what the borrowing terms are and then living to regret that decision for the rest of your life.
The following is a summary of the article’s main points, but it would be well worth reading the original text too.
Unscrupulous Loan Sharks Lending Money
According to the article, loan sharks are waiting outside school gates handing out their cards to take home to their parents, suggesting they buy them new trainers, etc.
It also reports that Illegal money lenders have also stationed themselves outside food banks or post offices to wait for pensioners to tempt them with borrowing money they cannot afford to pay back.
There are some true stories in the article and you need to take this matter seriously, in case you end up in a financial predicament yourself.
Do NOT Use Loan Sharks!
There are always alternatives to what might seem an insurmountable financial situation and there are agencies that can help you get your finances back in control, without having to go anywhere near these predators.
Do not even consider approaching a loan shark for borrowing cash under any circumstances.
If you are already in the position of having already borrowed money from a loan shark and you cannot repay them, then you need to take action now. Do not put this off!
As loan sharks are not registered lenders, their activity is illegal and you may not have to pay anything back on this uninforceable agreement.
Try some of these organisations that are completely free of charge to help:
Just click on these links and go to the section that is most suitable to you.
You can contact them to discuss your situation and circumstances in total privacy and they will seek to come up with a suitable solution for you.
Do Not Keep Borrowing Unnecessarily
With Christmas being very close now, many people feel they have to borrow to help make their Christmas Day more enjoyable for them and their families.
It is crazy to borrow money when you really cannot afford to pay it back again, so think wisely, especially before you get caught up in the traditional Christmas and New Year spending spree.
It is not just Christmas either when there are problems with loan sharks. They operate 365 days of the year, so you need to be on your guard.
There are other lending alternatives to loan sharks on this website and you should always use lenders and are registered and approved by the Financial Conduct Authority.
If debt is a problem, then do not keep getting new loans to increase your borrowing. Contact the agencies linked above to discuss your financial position and they can recommend better solutions for debt than to borrow more and more.
See also loan sharks in London.