Stop Loan Sharks

As regular readers will be aware I have been campaigning against legal loan sharks this morning I attended a briefing session on illegal loan sharks.  This session was hosted by the government organisation Stop Loan Sharks. 

It was good to hear that something is getting done to deal with this terrible trade, which targets the poor and the vulnerable.  It was disappointing to hear that loan sharks are probably operating in Dundee.  You can find out more about loan sharks in this leaflet.  We heard about an example of an illegal loan with an APR of 719,000%, and even of an APR which would be the equivalent of 11 million per cent.

If you have information about loan sharks please call Stop Loan Sharks on 0300 555 2222. 

It is important that people are aware of the various alternatives to loan sharks such as Discovery Credit Union.  It is important that the message is clear that loan sharks are not welcome in Dundee and that the council, the police and others will work to stop them.