Loan shark victim speaks out after he was forced to pay back thousands on a small loan with ‘eye watering’ interest Following yesterday’s article about help available to people being exploited by loan sharks, we tell the story of one man’s nightmare and how he eventually got help. A businessman
Loan sharks operate across all communities and prey on vulnerable people who may have fallen on hard times. The Illegal Money Lending Team (IMLT) are a national team that investigate and prosecute loan sharks. The team works in partnership with Leeds City Council and West Yorkshire Police to crackdown on
A campaign is being launched in Middleton and Belle Isle to encourage local residents, family and friends to report loan shark activity in their area. The campaign, which is being led by the Leeds South East Debt Forum, aims to get people talking about loan sharks, break the taboo and
A 45 year old man was arrested on suspicion of illegal money lending, following an operation in South Leeds this week. The England Illegal Money Lending Team (IMLT) working in partnership with West Yorkshire Joint Services Trading Standards and West Yorkshire Police executed a warrant at an address in Middleton.
This article by West Yorkshire Trading Standards first appeared on their blog. Students at Middleton Primary are helping the Illegal Money Lending Team and West Yorkshire Trading Standards “Bite Back” at the loan sharks in their community, by taking part in an innovative “design a mug” competition. Pupils in
There is a conference taking place today in Leeds to look at what can be done about high cost lending. The figures are stark, if Leeds residents borrowed money at normal bank rates of interest, collectively we would save £60m. That’s £60m that can be spent on food, clothing
We’ve received the following warning about an internet financial loan company called Financial Solutions Ltd. They are taking large amounts of money up front from families to cover credits checks, solicitors fees etc and then not providing the loan. One family in Leeds has so far paid £510.00 in
West Yorkshire Police are urging people in South Leeds not borrow money from Loan Sharks. There are many legal lenders charging very high interest rates, for example Wonga quote a rate of over 4000%. However Police are concerned that people are using illegal lenders who can charge even more, but