Stay Away From Loan Sharks

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Women in the North East are being forced into prostitution to pay back spiralling debts to loan sharks. 200,000 Britons are at risk and 35,000 more people may turn to loan sharks soon.

Stay away from this trap and spread this message.

Designed and promoted in public interest by http://www.YesDebtFree.co.uk/

Published in: Economy & Finance, Business
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  • Stay away from loan sharks
  • Stay Away From Loan Sharks

    1. 1. Stay Away from Loan Sharks Designed and promoted in public interest by YesDebtFree.co.uk
    2. 2. Stay Away from Loan Sharks Source: BBC News Women in the North East are being forced into prostitution to pay back spiralling debts to loan sharks .
    3. 3. Stay Away from Loan Sharks 200,000 Britons are at risk…
    4. 4. Stay Away from Loan Sharks 200,000 Britons are at risk… 35,000 more people may turn to loan sharks soon…
    5. 5. 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
    6. 6. 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
    7. 7. Stay Away from Loan Sharks Meet Paul Nicholson Paul Nicholson is a loan shark . Source: Times Online UK
    8. 8. 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
    9. 9. 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
    10. 10. 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
    11. 11. 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
    12. 12. 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
    13. 13. 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
    14. 14. 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
    15. 15. Stay Away from Loan Sharks Alternatives to Loan Sharking Alternative 1: Sub prime lending: Source: YesDebtFree.co.uk <ul><ul><li>It is a second chance lending that is </li></ul></ul><ul><ul><li>applicable to borrowers who do not </li></ul></ul><ul><ul><li>qualify for standard loan. </li></ul></ul>
    16. 16. Stay Away from Loan Sharks Alternatives to Loan Sharking Alternative 2: Credit Unions: Source: YesDebtFree.co.uk <ul><ul><li>Credit unions are co-operatives created and owned by a group of people like you. </li></ul></ul>
    17. 17. Stay Away from Loan Sharks Alternatives to Loan Sharking Alternative 3: Council banks/ Municipal Banks: Source: YesDebtFree.co.uk <ul><ul><li>These are run by the government to provide financial services to the low income groups </li></ul></ul>
    18. 18. Stay Away from Loan Sharks Alternatives to Loan Sharking Alternative 4: Doorstep lending: Source: YesDebtFree.co.uk <ul><ul><li>They offer small amount of loan starting from as little as £100. </li></ul></ul>
    19. 19. Stay Away from Loan Sharks Meet Ian Jenkins Ian Jenkins is a loan shark . Source: Mirror UK
    20. 20. Stay Away from Loan Sharks Meet Ian Jenkins He preyed on alcoholics and drug addicts Source: Mirror UK
    21. 21. 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
    22. 22. 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
    23. 23. Stay Away from Loan Sharks How to fight against Loan Sharks ? <ul><li>Get in touch with the authorities at http://www.direct.gov.uk/stoploansharks </li></ul><ul><li>2. Call the helpline 0300 555 2222 </li></ul><ul><li>3. Email: [email_address] </li></ul><ul><li>4. Text/SMS details to 60003 </li></ul>
    24. 24. 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.
    25. 25. Stay Away from Loan Sharks Designed and promoted in public interest by YesDebtFree.co.uk

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