Money matters - awareness of loan sharks
The current COVID-19 crisis has meant that many people have concerns and worries about money. Loan sharks are illegal lenders of money, who may target people with financial worries.
Borrowing from a loan shark can lead to worse problems as they are very risky and the interest rates can be far greater than that of legal borrowing. The money advice service has information on loan sharks including how to spot them.
If you are concerned about loan sharks, it can be reported via email to reportaloanshark@stoploansharks.gov.uk or complete an online form at www.stoploansharks.co.uk.
There is also a 24/7 confidential helpline on 0300 555 2222
Our Money Matters team can offer advice on money and benefits. In the COVID-19 Support and advice section, we have listed the questions and answers we are getting asked most often. They can be contacted on 01952 217234 or you can email money.matters@wrekin.com.
If you are concerned about getting into debt, our team of debt advisors offer impartial, regulated and free debt advice. You can contact the team on 01952 217251, or email debtadvice@wrekin.com.
Wrekin Debt Advice offer free, impartial and confidential advice to support people with debt issues. Fully regulated by the Financial Conduct authority (FCA) and affiliated with Community Money Advice, the service helps people to find solutions that suit them and also contact and work with creditors to give breathing space.
As part of our ‘ask the expert’ series, we spoke to Steve Barras, Business Development Officer at Just Credit Union. Steve gave us some detail on how Just Credit Union has adapted due to COVID-19 and offered some ideas for ways to look after your finances.
2nd July 2020