Loan shark warning for Wyre Forest families as roadshow comes to town
Families struggling to make ends meet are being warned about the dangers of borrowing money from loan sharks this month.
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The England Illegal Money Lending Team, known as Stop Loan Sharks, will be holding a roadshow in the Kidderminster and Stourport areas next week to raise awareness of the pitfalls of not using legal lenders.
Titled 'Bite Back Week' the initiative is being organised in partnership with West Mercia Police, Wyre Forest District Council and Community Housing.
It will see advisors from Stop Loan Sharks accompanied by mascot Sid the Shark taking to shoppers and giving out information from Monday to Thursday next week.
On Monday they will be at the Starting Well Hub at Brookside Children’s Centre, in Borrington Road, Kidderminster from 9.30am to 11am. From 1pm to 3pm they will be at Tesco in Severn Road, in Stourport.
On Tuesday they will be on a walkabout from 11am to 1pm in the Queen Street, Windsor Drive, Broad Street, Eddy Road, and Larkhill areas of Kidderminster. From 1pm to 3pm, they will be at Lidl, in Vale Road, in Stourport-on-Severn.
On Wednesday from 10.30am to 12noon at St Chads Church and Cafe Chad, in Burcher Green, in Kidderminster.
Then on Thursday they will be at Comberton Primary School, Borrington Road, from 8.15am, from noon to 1.30pm on walkabout in Comberton Avenue, Queen Elizabeth Road, Hawford Avenue and Broom Crescent, in Kidderminster.
England Illegal Money Lending Team (IMLT) head Tony Quigley said: “Raising awareness is a big part of the work we do in communities – we want to make sure that everyone knows exactly where to turn for help if they have been targeted by an illegal lender and we would urge anyone in the area to come and say help to the team and find out more about what we do.”
Community Housing money advice manager Beverley Hiden added: “Community Housing is pleased to be once again working with the IMLT and Sid the Shark to raise awareness of illegal money lending activities in the Wyre Forest area. We will be joined by the local safe neighbourhoods teams, and Wyre Forest District Council for a series of events in Kidderminster and Stourport-on-Severn.”
Many illegal money lenders are well known within their communities and are often introduced to borrowers through friends or family members. They are unregulated and give loans with no paperwork, charging extortionate interest rates. They often resort to threats, intimidation and even violence if repayments are not made.
Figures from the Centre for Social Justice show up to 1.08 million people in debt to loan sharks in England.
Anyone who has been affected by illegal money lending phone Stop Loan Sharks 24/7 the helpline on 0300 555 2222 or see website stoploansharks.co.uk which has a live chat page.
