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05 Mar 09 -Consumer Affairs Minister Announces New Website
Stop Loan Sharks : Directgov
A new website has also been launched providing information on managing finances and how to borrow money safely. This provides information on alternative sources of credit, including credit unions.
The initiative was also welcomed by “money saving expert” Martin Lewis, who alerted the 3.2 million readers of his email bulletin to the new number and highlighted credit unions as an affordable alternative source of credit. The Stop Loan Sharks teams have successfully prosecuted more than 60 people with a further 90 prosecutions underway. This amounts to nearly 40 years of custodial sentences for illegal lending and associated crimes.
The teams have supported more than 7,000 victims of illegal money lenders. The first two pilot schemes were launched in September 2004 and then rolled out to every region of England, Wales and Scotland in 2007.Their work has meant around £14million has been saved for consumers who were locked in illegal deals with these money lenders.
Consumer Affairs Minister, Gareth Thomas, said: "Loan sharks fleece hard-earned cash from their victims causing great distress and anguish. "Calling this hotline gives victims the chance to talk in confidence. They get advice and support and the information provided helps the team to take action to stop illegal money lending. "The teams are having huge success in bringing these criminals to justice and are saving consumers significant amounts of money."
The national hotline - which is confidential - is: 0300 555 2222. And the website is: http://www.direct.gov.uk/stoploan sharks Consumers can also text loan (space) shark (space) and your message to 60003.
LIST OF CREDIT UNIONS who offer growth fund loans - DWP - Growth Fund Contracts
Stop Loan Sharks : Directgov
A new website has also been launched providing information on managing finances and how to borrow money safely. This provides information on alternative sources of credit, including credit unions.
The initiative was also welcomed by “money saving expert” Martin Lewis, who alerted the 3.2 million readers of his email bulletin to the new number and highlighted credit unions as an affordable alternative source of credit. The Stop Loan Sharks teams have successfully prosecuted more than 60 people with a further 90 prosecutions underway. This amounts to nearly 40 years of custodial sentences for illegal lending and associated crimes.
The teams have supported more than 7,000 victims of illegal money lenders. The first two pilot schemes were launched in September 2004 and then rolled out to every region of England, Wales and Scotland in 2007.Their work has meant around £14million has been saved for consumers who were locked in illegal deals with these money lenders.
Consumer Affairs Minister, Gareth Thomas, said: "Loan sharks fleece hard-earned cash from their victims causing great distress and anguish. "Calling this hotline gives victims the chance to talk in confidence. They get advice and support and the information provided helps the team to take action to stop illegal money lending. "The teams are having huge success in bringing these criminals to justice and are saving consumers significant amounts of money."
The national hotline - which is confidential - is: 0300 555 2222. And the website is: http://www.direct.gov.uk/stoploan sharks Consumers can also text loan (space) shark (space) and your message to 60003.
LIST OF CREDIT UNIONS who offer growth fund loans - DWP - Growth Fund Contracts
