Loan sharks on coast facing crackdown

North Yorkshire County Council's illegal money lending team, which has been investigating and prosecuting loan sharks across the area, is now targetting Scarborough.

Helping potential victims will start at 2pm at Eastfield Library next Thursday when people are given advice about illegal money lending, how to spot a loan shark and what to do if they or someone they know have borrowed money from one.

Coun Clare Wood, Executive Member for North Yorkshire Trading Standards, said: "Licensed lenders have legal obligations to keep proper paperwork and use fair collection methods on their loans.

"But loan sharks often use cash loans with no paperwork and employ threats and actual violence including rape to intimidate their unfortunate victims.

"We are pleased to work with the illegal money lending unit to ensure no-one has to be subject to this type of threat and intimidation.

"There are many social consequences that stem from the activities of loan sharks, including depression and other illnesses. We intend to enable anyone affected to report a loan shark without fear of reprisal ."

So far the national Stop Loan Sharks project has seized and confiscated 1.2m, written off over 25m of illegal debt and helped over 11,500 victims.

There have been several prosecutions and jail sentences.

To report a loan shark call the confidential hotline 0300 555 2222, or text "loan shark" plus your message to 60003, email [email protected], or visit www.direct.gov.uk/stoploansharks