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Loan Sharks
The best advice for dealing with loan sharks is 'don't'
They're unlicensed moneylenders who charge very
high interest rates, sometimes using intimidation, harassment,
threats and violence to frighten people who can't pay back their
loan. They often pressurise people into borrowing more from them to
repay one debt with another.
If a lender isn't listed as having a current
licence, don't borrow money from them.
To find out if a lender has a current licence,
you can search the Consumer Credit Public Register. The
register lists everyone with a licence, as well as everyone
who has applied for one, or has had one taken away or suspended.
It's free to get basic information from the register, including
trading names and the activities for which a business is
licensed.
To search the public register, telephone 02072118608 between 9.30am
and 4pm Monday to Friday, or visit
http://www2.crw.gov.uk/pr/Default.aspx
If you have borrowed money from a loan shark
you are under no legal obligation to pay the debt.
If you have borrowed money from a loan shark it
is the loan shark who has broken the law - not you.
You should contact
Stop Loan
Sharks
or
Trading Standards immediately. We can help you to deal with
your situation in confidence.
Credit Unions
Suffolk County Council works in conjuction with
the Suffolk Credit Unions, savings and loans co-operatives which
aim to help people in their local area:
Ipswich and Suffolk Credit Union Ltd., 63 Austin Street, Ipswich,
IP2 8DF
Telephone 01473 690690
http://www.onesuffolk.co.uk/ipswichandsuffolkcreditunion
Rainbow Saver Anglian Credit Union Ltd. Administration Centre, 229
London Road South, Lowestoft, Suffolk, NR33 0DS
Telephone 01502 584854
http://www.onesuffolk.co.uk/RSACUL