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Shark catchers head for Boscombe!

Posted on Tuesday, 06 December 2011 04:41PM by Gerald Gilbert

Boscombe is to be the main target area for the ‘Stop Illegal Money Lending Team’ now operating in Bournemouth.
After a meeting by the team and local officials a warning is going out to all this Christmas about the dangers of resorting to loan sharks.
The recent meeting, which was attended by councillors, the Credit Union, Housing Associations and the Police,took place at the town hall and its aims were to promote the team and it’s project (Stop Loan Sharks)and to help victims of loan sharks.
Spokes woman Cath Wohlers said: “I think it went very well. It was very accepted by the people of Bournemouth.”

The ‘Illegal money lending team’ aims to prosecute loan sharks and give assistance to those in their debt. They track them down with the help of other agencies and when victims themselves come forward.
Cath Wohlers explained: “We aim for custodial sentences because that’s the name of the game.”
So far around 16,300 people have been helped by the team and £40million in debt written off.
The reasons why so many people go to loan sharks varies but they are usually desperately in debt and can find no way of paying it.

Loan sharks are often known to the victim or friends and appear genuine at first but soon change their attitude. They become violent and threatening.
Client ‘Jane’ a barmaid said: “I deeply regret ever taking a loan out with this man.”
She went on to describe how she felt: “The last few months have been a nightmare. I have never felt in such a helpless situation.”
People in serious debt may think a loan shark’s terms sound fair or not even know if they are illegal money lenders.

However repayments can be extortionate and money lenders often exhort to tactics such as taking a person’s bank card and pin to help themselves leaving the borrower penny-less. One such person received £150 and ended up re paying £5000.
Wendy Loades said: “A loan shark is simply someone that doesn’t have a licence from the office of fair trading.” But she added: “If they haven’t got a licence then really that loan isn’t in forcible at all.
Other people have raised their concerns about these people namely the previous government, which started the ball rolling in 2004 conducting research into the problem.

In April 2011 a national project was set up as the problem was getting worse. In fact 1750 loan sharks have been identified and research has found that 310,000 households had borrowed money in this way.
Consumer affairs minister Edward Davey said: “Pure and simply loan Sharks are criminals who prey on vulnerable communities and fleece their victims out of hard earned cash, often through intimidation and violence.”
Head of the England money lending team Tony Quigley added: “This is a despicable crime that will not be tolerated.”
People who live in fear of intimidation from money lender are being urged to come forward and will be treated in the strictest confidence.

So far 500 loan sharks have been taken to court and 16,000 victims have been helped. They have been directed to places such as the Citizens Advice Bureau their local Debt Advice centre. Their debts have been written off after convictions secured.
It has been suggested that if you badly need a loan go to your local ‘Credit Union’

Anyone seeking help can do the following:
Call the 24/7 confidential hotline 0300 555 2222
Text ‘loan shark + your message to 60003
E-mail reportaloanshark@ stoploansharks.gov.uk
Log-on to www.direct.gov.uk/stoploansharks
Go to ‘Facebook’ www.facebook.com/stoploansharksproject