Stay Away from Loan Sharks

Designed and promoted in public interest by YesDebtFree.co.uk

Stay Away from Loan Sharks

Women in the North East are

being forced into prostitution
to pay back spiralling debts to
loan sharks.

Source: BBC News

Stay Away from Loan Sharks

200,000 Britons are at risk…

Stay Away from Loan Sharks

200,000 Britons are at risk…

35,000 more people may turn

to loan sharks soon…
Stay Away from Loan Sharks

Who are loan sharks?

They are illegal moneylenders.
They are not licensed under the
Consumer Credit Act and they
lend money at an astronomical
interest rate.
More Information: Wikipedia
Stay Away from Loan Sharks

Jacqui Kennedy; Birmingham Council

"Loan sharks do not provide a
community service, they prey on
the most vulnerable members of
society and are often engaged in a
wider web of illegal or dangerous
activity than the money lending alone."
Source: nds.coi.gov.uk
Stay Away from Loan Sharks

Meet Paul Nicholson

Paul Nicholson is a
loan shark.

Source: Times Online UK

Stay Away from Loan Sharks

Meet Paul Nicholson

When one woman could
not pay he threatened to
petrol-bomb her home

Source: Times Online UK

Stay Away from Loan Sharks

Meet Paul Nicholson

Another distraught debtor
was told: "Your priority is
to pay me, not feed your
kids."

Source: Times Online UK

Stay Away from Loan Sharks

Meet Paul Nicholson

He forced a woman who
owed him money to
perform a sex act on him.

Source: Times Online UK

Stay Away from Loan Sharks

Meet Paul Nicholson

He was convicted at
Warrington Crown Court
of 18 charges including
rape, blackmailing and
many more.

Source: Times Online UK

Stay Away from Loan Sharks

They are smelling blood

“The problem has developed because high
street banks and building societies have
axed riskier lending over the past year

Source: Times Online UK

Stay Away from Loan Sharks

They are smelling blood

“The problem has developed because high
street banks and building societies have
axed riskier lending over the past year
while many specialist lenders, such as
London Scottish and Cattles, have
withdrawn from the market.”
Source: Times Online UK
Stay Away from Loan Sharks

Alternatives to Loan Sharking

Have you already been refused a loan by
the top tier credit companies? If yes,
there is nothing to despair and no need
to go to loan sharks.

Here are some alternatives:

Source: YesDebtFree.co.uk
Stay Away from Loan Sharks

Alternatives to Loan Sharking

Alternative 1: Sub prime lending:

It is a second chance lending that is

applicable to borrowers who do not
qualify for standard loan.

Source: YesDebtFree.co.uk
Stay Away from Loan Sharks

Alternatives to Loan Sharking

Alternative 2: Credit Unions:

Credit unions are co-operatives

created and owned by a group of
people like you.

Source: YesDebtFree.co.uk
Stay Away from Loan Sharks

Alternatives to Loan Sharking

Alternative 3: Council banks/
Municipal Banks:
These are run by the government to
provide financial services to the low
income groups

Source: YesDebtFree.co.uk
Stay Away from Loan Sharks

Alternatives to Loan Sharking

Alternative 4: Doorstep lending:

They offer small amount of loan

starting from as little as £100.

Source: YesDebtFree.co.uk
Stay Away from Loan Sharks

Meet Ian Jenkins

Ian Jenkins is a
loan shark.

Source: Mirror UK
Stay Away from Loan Sharks

Meet Ian Jenkins

He preyed on alcoholics
and drug addicts

Source: Mirror UK
Stay Away from Loan Sharks

Meet Ian Jenkins

He took the Post Office
benefit cards and pin codes
of 55 homeless victims to
get their repayments plus
extortionate premiums
directly from their accounts.
Source: Mirror UK
Stay Away from Loan Sharks

Meet Ian Jenkins

In one case, a drug addict
who was loaned £106 was
stung with rolling daily
interest of 30%. That worked
out at eight million percent
annually.

Source: Mirror UK
 Stay Away from Loan Sharks

How to fight against Loan Sharks?

1. Get in touch with the authorities at
http://www.direct.gov.uk/stoploansharks

2. Call the helpline 0300 555 2222

3. Email: reportaloanshark@stoploansharks.gov.uk

4. Text/SMS details to 60003

 Stay Away from Loan Sharks

What Next?
Stand up and fight against them.

You have a bigger role to play - tell your friends,

colleagues and family members to stay away from
this trap. You know the reasons. Don’t you?

Take Initiative and Spread Awareness.

Stay Away from Loan Sharks

Designed and promoted in public interest by YesDebtFree.co.uk