Drive to truly save susceptible Milton Keynes residents from jaws of loan sharks

Drive to truly save susceptible Milton Keynes residents from jaws of loan sharks

The England prohibited Money Lending Team (IMLT) has accompanied forces with Milton Keynes Council and Thames Valley Police to produce a campaign that is new raise awarene of loan sharks.

The ‘bite straight straight back’ campaign, operating until Friday 17 August, involves a targeted leaflet fall, police training and a mini trip with IMLT mascot Sid the Shark and police mascot PCSO Peel.

Officers through the IMLT and Milton Keynes North Neighbourhood Policing Team took part in a targeted leaflet fall in Beanhill, Netherfield and Tinkers Bridge areas yesterday (Monday 13) to demonstrate residents the task being done and point to the assistance if required.

Other work will include Police being trained about how to spot loan sharks and also make recommendations to your IMLT when coping with vulnerable victims.

Sergeant Lucy Boddington, regarding the Milton Keynes North Neighbourhood Policing Team, stated:

“We are very happy to be working alongside the England prohibited cash Lending Team to increase awarene inside our regional communities of just how to spot that loan shark, the risks of employing them and just how to report this criminal activity. Through the week of action, our neighbourhood groups is likely to be visiting and supplying information to an amount of estates in Milton Keynes along with our authorities cadets. We will additionally be hosting an exercise seion with frontline staff from our partner agencies, empowering them to safeguard and teach the absolute most vulnerable within our communities.”

Alcohol mats will also be getting used in regional bars to market the IMLT helpline quantity to clients when they require advice and help with loan sharks.

Tony Quigley, Head for the prohibited Money Lending Team, included:

“It is very important that neighborhood folks are made conscious of the perils posed by illegal cash loan providers. This campaign is all about raising awarene of loan sharks and promoting safe borrowing.

“We wish to remind residents that loan sharks can happen friendly in the beginning, while making away that they’re offering a residential district solution but borrowers in many cases are obligated to repay more than they’ve lent and may manage. Many victims are put through threats, physical violence along with other callous settlement practices.

That loan shark is an individual who operates a cash financing busine with no proper authorisation from the Financial Conduct Authority (FCA).

An approximated 310,000 households nationwide are borrowing from unlawful cash loan providers whom charge excessive interest levels to trap individuals into a spiral of financial obligation.

Cash confiscated from convicted loan sharks can be getting used to back once again new credit union reports in Milton Keynes.

Swan Credit Union, based at Foundation home on Aylesbury Street, is working together with the England Illegal cash Lending Team (IMLT) to utilize profits of criminal activity money as a reason to encourage individuals in Milton Keynes to save, payday loans online for New Mexico residents and also to raise awarene of this dangers of borrowing from unlawful cash loan providers.

The very first 50 individuals to join Swan Credit Union located in the areas that are postcode 2-3, 6-7 and 10-14, who conserve ?5 per week for 13 days, will be eligible for a savings boost of ?25.

Steve Eyre, seat associated with the Swan Credit Union stated:

“Swan Credit Union exists to give you savings that are affordable loans through our district Banks therefore we value extremely very the job associated with England prohibited Money Lending Team in tackling loan sharks. We recognise that this particular criminal activity strikes susceptible people very difficult, and using recovered proceeds to aid the job of Credit Unions is imaginative and powerful. I will be confident our current and members that are potential be grateful with this help and you will be motivated to utilize the valuable services that people all offer.”

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