NHS staff in Coventry and Warwickshire are supporting a national campaign to prevent people falling victim to loan sharks during the pandemic.
Dr Alex Cotton, Coventry and Warwickshire Partnership NHS Trust’s Urgent Care Team and members of the UK ‘Stop Loan Sharks’ campaign even went as far as dressing up as sharks to get the message across to staff and patients at Coventry’s Caludon Centre.
Continued economic uncertainty during the pandemic, with many people facing redundancy, means loan sharks may look to take advantage of people in a vulnerable position who feel they have nowhere to turn for help.
The campaign, led by the England Illegal Money Lending Team (IMLT), aims to reach out to those who are most at risk and show them support available.
IMLT boss Tony Quigley said: “These are difficult times for many households and there’s a lot of pressure to make ends meet.
“People who may have lost their jobs, have outstanding debts, or are struggling to get credit through the usual means can feel like they’ve run out of options and turn to loan sharks.
“I would urge anyone who desperately needs financial help to not turn to a loan shark but instead to talk to Citizens Advice or a credit union about financial support available.
“If you have been a victim of illegal money lending or know someone who has, please call our 24-hour helpline on 0300 555 2222 for advice and support.”
Campaign organisers are also providing free training for staff who work with vulnerable groups including health and social care workers, community safety staff, police and anyone who is involved in providing a front facing service with customers.
The England Illegal Money Lending Team (IMLT) is a specialist Trading Standards team which investigates and prosecutes loan sharks.
Since its launch in 2004, the IMLT has prosecuted more than 400 people for illegal money lending and crimes such as blackmail, kidnapping, rape and assault.
It has also written off £83 million in illegal debt and helped more than 30,000 victims.
You can access support via live chat between 9am and 5pm, Monday to Friday or complete an online form at stoploansharks.co.uk. Download the Stop Loan Sharks App for free from the App Store or Google Play.
CASESTUDY: Becky’s Story
LOAN shark survivor Becky, whose name has been changed to protect her identity, has shared her heart-breaking story to encourage other victims to come forward.
The mum-of-five found herself in financial hardship and borrowed £50 from a woman she considered a friend to buy school uniforms for her children – but ended up paying back around £35,000.
It led to her attempting to take her own life after falling in debt and receiving terrifying threats.
Becky and her husband were both unemployed at the time, and with no access to a bank account, credit cards or able to get a loan, felt she had no option but to accept the cash from the woman posing as her friend.
She said: “I had the £50 in 15 minutes. It seemed like easy money, but I didn’t realise the dangers.
“The first time I was in arrears she added another £150 on top. So, you could borrow £50 one week, and owe £100 the next. But if you couldn’t pay it would be £250 in a fortnight, £400 in three weeks.
“The most I ever owed was £1,500. She was taking hundreds a week off me, and I had to use food banks.”
The loan shark would even text Becky’s children if she was late with payments and warned they would be coming to visit unless she paid up.
Her case was investigated by the England Illegal Money Lending Team (IMLT), with Becky and her children relocated away from the loan shark. The lender is now under investigation.
