By David Hanson MP / Latest News / 0 Comments

Don’t Fall Victim to Lone Sharks this Christmas


Delyn MP David Hanson is urging people not to turn to loan sharks over Christmas as reports on illegal lending show loan sharks are particularly active over the festive period.

Earlier this year the biggest ever crackdown on loan sharks and illegal lending was announced. New specialist teams received funding of almost £3 million to hunt down loan sharks across England, Wales and Scotland.

The action builds on the success of pilot anti-loan shark teams in Birmingham and Glasgow, staffed by specialist Trading Standards officers working closely with the police. Since September 2004 these teams have identified more than 200 illegal lenders and shut down loan books worth more than £3million.

The teams prosecute and investigate loan sharks and offer advice and support to their victims, working together with voluntary organisations and debt advice agencies.

David Hanson said:

“Many people at this time of year can feel the Christmas pinch but turning to a loan shark will mean a Christmas ruined with worry and stress and a New Year of spiraling debts and threats of violence.

“Loan sharks are criminals and the Government is determined to keep them off the streets and prevent them from preying on the weak and vulnerable in our communities.

“Those that are struggling should contact a local credit union or debt advice centre for help and support.”