Tag Archives: loan sharks

Taking a bite out of loan sharks

posted by in Client stories, Dodgy practice 4 Comments

Shark attacking

Are you being stalked by a loan shark?

After many years of working in a debt charity, it takes a lot to shock me these days. But what I heard that day made my blood run cold.

“I’m scared, I can’t answer my door, I can’t go out, I can’t stop crying…”

Ann had phoned us for debt advice. She was at breaking point.

“I need help but where do I go? Who do I turn to?”

She was buckling under the pressure and intimidation she was dealing with from what she said was one particular creditor.

“They’re knocking on my door constantly and their threats make me feel even more trapped. My children can’t even go to school because I’m too scared that something will happen to them.”

I was completely confused; creditors don’t do this. What was going on?

Then I realised: Ann was a victim of a loan shark, and their campaign of terror against this poor woman and her family was nothing short of cruel.

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Know your rights – January’s debt news

posted by in Debt, Debt Law Leave a comment

Debt news

What’s this month’s top debt stories?

There was one big debt news story in January – and it was about us!

We ran Debt Awareness Week a couple of weeks ago and we’re dead chuffed that it made such a big splash!

We spent the week highlighting our services in the media and featured in a debt clinic on the Guardian website as well as coverage in The Sun and The Daily Mail among others.

The aim of the week was to help people recognise the danger signs of debt and prompt those who do need assistance to get help sooner. Much of the work that went into the week was inspired by our own client’s experiences which really helped us to spread the word.

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Don’t make the wrong decision when you need debt help

posted by in Bad advice, Debt Leave a comment

Couple counting out money

Make sure you do the right thing

We regularly hear from people who have buried their head in the sand and let their debt situation spiral out of control. This can be due to having too many payday loans, spending too much on credit cards or any number of other reasons.

From the release of our 2011 Statistics Yearbook last month we already know that 45% of people wait over a year before asking for debt help. It seems as though people try and exhaust all possible options before admitting that they need debt help.

So what are these other options? And more importantly, what are the consequences of not getting advice from a free and impartial charity like us?

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