PELTON, U.K.–A broad campaign to raise awareness of the dangers of loan sharks has been launched here with a week-long effort designed to encourage people to report the crime if they have been a victim, as well as offering advice on affordable alternatives.
The England Illegal Money Lending Team, Cestria Community Housing, Durham Area Action Partnership, NEFirst Credit Union and Durham Trading Standards, are working with people in the area, according to the Northern Echo.
“We hope as many Pelton residents as possible will take part in the week of action,” Durham County Councilor Brian Stephens told the Northern Echo. “Illegal money lenders cause great harm with their activities, more so because they tell their victims they are helping them when they are actually hurting them financially. The terms they offer are astronomical and so unfair that loans are paid back several times over and rarely, if ever, paid off.”
To spread the Stop Loan Sharks message throughout the week, the campaign will be visiting residents in Pelton to speak to as many people as possible.
There will also be an incentive for joining the NEFirst Credit Union within the week of action. The first 50 members who save for 10 out of a possible 12 weeks will receive £25 into their accounts with the Durham First Credit Union.
The incentive money is from proceeds of crime money taken from convicted loan sharks, and is intended to encourage people to save so they will never need to use them, the Northern Echo reported.