Cultural Solutions Ltd and Blueprint Films, both in Lincolnshire, have teamed up to help the UK find safer alternatives than unpredictable loan sharks. The England Illegal Money Lending Team has also joined forces with Lincolnshire Credit Union to contribute to this film.
Aptly titled, “Stop Loan Sharks” aims to promote the legal and physical dangers of using unconventional methods of money borrowing. The film wants to help people to find safer and legal options than having to resort to loan sharks.
Residents try to put a stop to legal loan shark lending
The film has been funded from the money taken from convicted loan sharks. Using the proceeds of crime to help stop people from borrowing from risky lenders, starting from something negative and turning it into something positive,
Lincolnshire Credit Union will be launching “Stop Loan Sharks” on Saturday 1st February, then on social network sites. The film can be seen in both English and in Russian. The aim of this is to reach as many people as possible.
Tony Quigley, head of the England Illegal Money Lending Team, said: “Illegal money lending is a despicable crime which causes nothing but harm to our communities.
“These lenders may appear to be offering a community service but borrowers are often forced to pay back far and above what they have borrowed and can afford.
“Many are subjected to threats, violence or other callous enforcement methods. We would urge anyone who has been the victim of a loan shark to report them in confidence on 0300 555 2222, as we can help.”
It is estimated that around 310,000 homes in the UK are currently in debt to loan sharks and sixty people are in the witness protection scheme due to aggressive loan sharks. Tony Quigley says that £700m is being paid to loan sharks each year.