This month is loan shark month and we are running a wide range of events, awareness raising activities and a media campaign in an attempt to tell as many people as possible abut the dangers of loan sharks.
Loan sharks tend to prey on vulnerable people, befriending them and then destroying their lives with extortionate interest rates and threatening and violent behaviour.
The Illegal Money Lending Team (a government initiative) works to prosecute loan sharks and offer safe and confidential advice to people who have concerns about illegal money lending. The Team has seen rates of interest on money borrowed from loan sharks as high as 131,000% and have seen cases of kidnap, rape and assault when borrowers struggle to keep up with the repayments.
At BHT we are supporting this initiative and are planning a number of activities throughout July to raise awareness of loan shark activity amongst our clients and the communities within which we work.
We want to spread the message as wide as possible to never borrow money from a loan shark and to call 0300 555 2222 if you are concerned about loan shark activity.
How you can help:
- Sign our Thunderclap and a coordinated message reminding people never to borrow from loan sharks and a helpline number will be send out on the 28th July on Facebook and Twitter. (It only take two minutes and your details will not be passed on)
- Share the Thunderclap link on your Facebook and Twitter pages to encourage everyone you know to sign the Thunderclap too.
To see just how bad borrowing money from loan sharks can get, watch this short film.
I hope you can support this very important initiative.