Drive to save lots of susceptible Milton Keynes residents from jaws of loan sharks

Drive to save lots of susceptible Milton Keynes residents from jaws of loan sharks

The England prohibited cash Lending Team (IMLT) has accompanied forces with Milton Keynes Council and Thames Valley Police to provide a brand new campaign to raise awarene of loan sharks.

The ‘bite straight back’ campaign, operating until Friday 17 August, involves a leaflet that is targeted, police training and a mini trip with IMLT mascot Sid the Shark and police mascot PCSO Peel.

Officers through the IMLT and Milton Keynes North Neighbourhood Policing Team participated in a targeted leaflet fall in Beanhill, Netherfield and Tinkers Bridge areas yesterday (Monday 13) to exhibit residents the job being done and point out the assistance if required.

Other work shall include Police being trained about how to spot loan sharks making recommendations to your IMLT whenever working with susceptible victims.

Sergeant Lucy Boddington, for the Milton Keynes North Neighbourhood Policing Team, stated:

“We are happy to be working alongside the England prohibited cash Lending Team to increase awarene in our neighborhood communities of just how to spot that loan shark, the risks of employing them and exactly how to report this criminal activity. Throughout the week of action, our neighbourhood groups is supposed to be visiting and information that is providing a wide range of estates in Milton Keynes along with this police cadets. We will be hosting an exercise seion with frontline staff from our partner agencies, empowering them to guard and teach the essential vulnerable inside our communities.”

Beer mats will also be getting used in regional pubs to advertise the IMLT helpline number to clients when they require support and advice with loan sharks.

Tony Quigley, Head for the prohibited Money Lending Team, included:

“It is very important that regional folks are made conscious of the risks posed by illegal cash loan providers. This campaign is all about increasing awarene of loan sharks and marketing safe borrowing.

“We wish to remind residents that loan sharks can happen friendly in the beginning, while making down that they’re offering a residential area solution but borrowers in many cases are forced to repay much more than they will have borrowed and will manage. Many victims are put through threats, physical violence along with other callous payday loans & cash advance South Carolina settlement methods.

That loan shark is a person who operates a money financing busine minus the authorisation that is correct the Financial Conduct Authority (FCA).

An projected 310,000 households nationwide are borrowing from illegal cash loan providers whom charge excessive interest levels to trap individuals as a spiral of financial obligation.

Money confiscated from convicted loan sharks can also be getting used to back once again new credit union records in Milton Keynes.

Swan Credit Union, based at Foundation home on Aylesbury Street, is working together with the England prohibited cash Lending Team (IMLT) to utilize profits of criminal activity cash as a motivation to encourage individuals in Milton Keynes to save lots of, and also to raise awarene of this dangers of borrowing from unlawful cash loan providers.

The very first 50 individuals to join Swan Credit Union residing in the areas that are postcode 2-3, 6-7 and 10-14, whom conserve ?5 per week for 13 days, will be eligible for a cost cost savings boost of ?25.

Steve Eyre, seat associated with the Swan Credit Union stated:

“Swan Credit Union exists to give savings that are affordable loans through our neighborhood Banks therefore we value extremely extremely the job associated with the England prohibited cash Lending Team in tackling loan sharks. We recognise that this particular criminal activity hits people that are vulnerable difficult, and using recovered profits to guide the job of Credit Unions is imaginative and dynamic. I will be confident our current and prospective users will be grateful with this help and you will be motivated to utilize the valuable solutions that individuals all offer.”

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