Christmas can be an expensive time and many people may feel that they need to borrow money to keep up with gifts and food over the festive period.
Knowing where to go to get the right help can be tricky, but it is important to protect yourself from being targeted by loan sharks.
Stop Loan Sharks England’s campaign encourages people to shop smart, not shark. If Christmas is taking a toll on already tight finances, there are a number of options, including loans from banks. Credit Unions and CDFIs are there to help with savings and loans across the festive period too.
Loan sharks can post as friends and draw people in with the offer of a loan, no questions asked. Loan sharks often don’t provide any paperwork or receipts and will add huge amounts of interest on what is owed. They will often become aggressive and threaten people and their families if payments are missed or late.
Anyone who thinks they may be involved with a loan shark should visit www.stoploansharks.co.uk for help and support.