Adur, West & East Worthing Party including East Arun

Adur Homes signed up to national Stop Loan Sharks Campaign

The Campaign, which is part of the work of Trading Standards, aims to eradicate the activity of illegal money lenders across our communities.

Loan sharks are people who lend money without a licence from the Office of Fair Trading, they are often well known individuals in a community and tend to source their customers by word of mouth.

There are an estimated 165 000 households (OFT Figures 2010) in the UK using loan sharks and they tend to be the most deprived households in society, and often reside in social housing which is why Adur Homes is keen to become involved in the campaign and protect their tenants from these individuals.

Loan sharks use a variety of illegal and unpleasant means to obtain money from those they have leant to it is not unusual for them to harass, intimidate and threaten the whole family, and there have been cases where they have physically attacked and raped those who have been unable to pay.

The Stop Loan Sharks Campaign aims to do two things: 1) Find and prosecute loan sharks and 2) help their victims rebuild their lives. To help bring the illegal money lenders to justice and get them out of our communities, your help is needed. If you have any information about a loan shark who maybe operating in your community you can report them confidentially by the following means

  • ·           phone 0300 555 2222
  • ·           text LOAN SHARK and your details to 60003

Credit Unions

At a time when around one household is repossessed, and around 35 more are issued with County Court judgements in Sussex each day, Adur Homes appreciates why it can be tempting to borrow money from any source available, especially when the high street banks will not help those most in need of assistance.

However, there is an alternative, and there are people who can help with debt. Any household finding themselves experiencing financial difficulties should get help from other sources such as Citizens Advice Bureau and consider using the West Sussex Credit Union.

A credit union will consider lending to those who have little or no borrowing record, and will look after the welfare of their customers by helping those it lends to with budgeting and charging an affordable rate of interest.

If you would like to contact the West Sussex Credit Union their details are below:

    01903 237221
    enquiries@westsussexcreditunion.co.uk

 

    129 Montague Street, Worthing, West Sussex, BN11 3BP
     

http://www.westsussexcreditunion.co.uk/

 

If would like further information about how Adur Homes intends to support the Stop Loan Sharks campaign or, if you are an Adur Council tenant experiencing problems paying your rent please contact Alex Marsh on 01273 283371 or email alex.marsh@adur.gov.uk.