“My loan spiralled out of control. I paid back £90,000 on a £250 car – for that I could have bought a really nice car, bought my house outright and my kids could have lived a life of luxury- instead the loan shark was living the life of luxury. It was 17 years of sheer hell- no way to live”- ‘Mike’, Loan Shark Victim.
Christmas can be costly, and this year as more and more people find themselves strapped for cash, illegal money lenders more commonly known as loan sharks have been known to take advantage. These criminals are to be avoided at all costs. An estimated 310,000 households borrowed from a loan shark this year, with 20% of victims taking out the loan to fund Christmas. Often people find that they are paying for this well into the New Year and beyond.
Read the guidence from organisations that can help you Loan Shark Christmas Article 2011