Beware of loan sharks

loan sharks

If you’re facing financial difficulties and finding it hard to keep on top of your bills beware of loan sharks who may try and take advantage of your situation.

Many people turn to loan sharks because their bank or other official money lenders may have turned them down, and they feel they can’t get money anywhere else.  might try to take advantage of your situation.

While getting money from loan sharks may seem like the answer to your problems, you should remember that they’re unlicensed moneylenders who operate outside the law and without any financial regulation.

The interest they charge is usually very high and they sometimes use threats and violence to frighten people who can’t pay them back.

If you find that you have been bitten by a loan shark and they’re knocking on your door, try not to be afraid. They have no right to terrorise you and you should contact the police. What they are doing is illegal as they are not licensed money lenders.

Remember if you are having money problems please let us know. We can put you in touch with independent agencies who can help you manage your budget and negotiate with creditors. Contact your local office now!