Avoid falling victim to loan sharks this Christmas

Christmas is meant to be a wonderful time, but in the run up to the festive period, illegal loan sharks may offer tempting cash loans.

Watch out for warning signs of loan sharks and report them if you’re approached by one. Loan sharks rarely give paperwork, have high interest payments and may take items including passports, bank cards and driving licences as security.

Protect yourself and loved ones from loan sharks this Christmas:

  • If you need to borrow money, check whether a money lender is authorised by checking the register on the FCA website
  • Be wary of people you don’t know sending you messages through your social media accounts
  • Never send money or give a credit card, online account details or copies of personal documents to anyone you don’t know or trust
  • Be careful about how much personal information you share on social network sites.

The team at Stop Loan Sharks is ready to help and can be contacted 24/7 via the helpline in confidence, on 0300 555 2222.

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