Avoid falling victim to loan sharks this Christmas

In the run up to Christmas illegal loan sharks may offer tempting cash loans. Anyone lending money should be authorised by the Financial Conduct Authority.

Official lenders have to comply with the law and use proper paperwork and fair collection methods. You’re not in trouble if you have borrowed money or have been paying back a loan from a loan shark. They are the people committing a crime, not you.

If you're worried that a loan shark may be targeting your family or friends, there are several key warning signs you should look out for. This can include increased debt, borrowed money without paperwork, sudden changes to their finances such as money being withdrawn from their account and feeling scared. 

Find help here: www.stoploansharks.co.uk.

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