Rogue loan firms alert
Tens of thousands of vulnerable people are being tricked into handing over large sums of money after being cold-called by rogue credit brokers and debt management firms, a consumer group warned.
Citizens Advice said people who were struggling financially were being targeted by firms who contacted them out of the blue offering to help them find a loan.
Victims were charged hefty up-front fees for the service, but the loan often failed to materialise and they were unable to get their money back. The charity said cold calling by credit brokers tended to target people who were unable to borrow money from mainstream lenders