MP backs HA's loan shark awareness campaign

Published by Max Salsbury for 24dash.com in Communities and also in Finance, Legal

A Tameside MP has backed a housing association's campaign to raise awareness of the menace of loan sharks.

Ashton-under-Lyne MP David Heyes voiced his support for New Charter's awareness week when he visited its Hazelhurst Home and Community Hub in the Smallshaw area of Ashton.

Loan sharks tend to prey on vulnerable people by offering loans at very high interest rates, and often offer no paperwork. Threatening behaviour, violence and blackmail are frequently used when borrowers struggle with repayments.

New Charter will spend the week offering money advice in Smallshaw - one of its most deprived areas where illegal money lenders are most likely to operate. Posters and beer mats will also be used to promote the campaign.

Tony Powell, New Charter’s executive director of neighbourhoods, said: “With Government changes to benefits fast approaching, the temptation for people to borrow money from wherever they can will be even greater and it’s now more important than ever that tenants know we’re here to help.

“We’ve heard reports of loan sharks operating in the Smallshaw area and we want to warn tenants so they know what to look out for to avoid them and how to report them.”

David Heyes MP added: “Loan sharks could be people that residents know like friends of friends, the man in the pub, or even relatives in some cases. Getting caught up with a loan shark can have serious consequences involving crime and violence and we need to help tenants understand the dangers as well as letting them know that there are alternative places where they can get the help.”