Loan Shark Crackdown In Cumbria To Get Underway

Fri, 09 May 2008

A special squad of Birmingham-based investigators are to help tackle loan sharks in the Cumbria region.

The Government-supported team has been given approval by the Cumbria County Council to track down suspected loan sharks operating in the area, starting from today.

The scheme, which has already proved a major success in other parts of the North West and Birmingham, was set up after government figures revealed more than 165,000 UK households suffering with financial difficulties are being exploited by loan sharks each year.

Loan sharks usually operate by offering appealing loan deals to those who have been previously refused credit . However, the loans come huge rates of interest and customers who fail to keep up with repayments are often met with violence and intimidation.

Residents in the area can report suspected illegal money lenders to the team of investigators by calling 0300 5552222, or by emailing stoploansharks@cumbriacc.gov.uk .
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