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Drive to save lots of vulnerable Milton Keynes residents from jaws of loan sharks Leave a comment

Drive to save lots of vulnerable Milton Keynes residents from jaws of loan sharks

The England prohibited cash Lending Team (IMLT) has accompanied forces with Milton Keynes Council and Thames Valley Police to provide 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 drop, authorities 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 participated in a leaflet that is targeted in Beanhill, Netherfield and Tinkers Bridge areas yesterday (Monday 13) to demonstrate residents the job being done and point out the assistance if required.

Other work will include Police being trained on the best way to spot loan sharks and also make recommendations to your IMLT whenever coping with susceptible victims.

Sergeant Lucy Boddington, associated with Milton Keynes North Neighbourhood Policing Team, stated:

“We are happy to be working alongside the England prohibited cash Lending Team to increase awarene in our regional communities of just how to spot financing shark, the risks of employing them and exactly how to report this criminal activity. Through the week of action, our neighbourhood teams will likely to be visiting and supplying information to a quantity of estates in Milton Keynes along with your authorities cadets. We will additionally be hosting an exercise seion with frontline staff from our partner agencies, empowering them to shield and teach probably the most vulnerable within our communities.”

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

Tony Quigley, Head associated with the prohibited Money Lending Team, added:

“It is very important that regional folks are made alert to the risks posed by illegal money loan providers. This campaign is all about increasing awarene of loan sharks and marketing safe borrowing.

“We wish to remind residents that loan sharks may seem friendly in the beginning, and also make down that they’re offering a residential area solution but borrowers in many cases are obligated to pay back more than they usually have borrowed and certainly will manage. Many victims are afflicted by threats, physical physical violence along with other settlement that is callous.

That loan shark is somebody who operates a cash financing busine with no authorisation that is correct the Financial Conduct Authority (FCA).

An predicted 310,000 households nationwide are borrowing from unlawful cash loan providers whom charge exorbitant interest rates 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 payday loans CT, based at Foundation home on Aylesbury Street, is working together with the England prohibited Money Lending Team (IMLT) to utilize profits of crime cash as a motivation to encourage individuals in Milton Keynes to save lots of, and also to raise awarene of this dangers of borrowing from unlawful cash loan providers.

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

Steve Eyre, seat regarding the Swan Credit Union stated:

“Swan Credit Union exists to deliver affordable cost savings and loans through our district Banks therefore we value extremely extremely the job regarding the England prohibited cash Lending Team in tackling loan sharks. We recognise that this sort of criminal activity hits people that are vulnerable hard, and using recovered profits to aid the task of Credit Unions is imaginative and dynamic. I will be confident our current and possible users will be grateful with this help and you will be motivated to make use of the valuable solutions that people all offer.”

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