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Loan Sharks Targeted in Crackdown

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Published by the Pirate FM News Team at 7:27am 28th May 2012

There are fears Cornish families are being threatened with violence over debts.

A new campaign is being launched in Camborne to stop people falling victim to loan sharks.

Experts are urging people to come forward if they have been targeted. Some are being stung with interests rates of up to 131,000%.

Jane Hollis from Redruth helps people in debt. She said, "It's a hidden world but for people who become involved in it it's a nightmare - a complete nightmare. It will ruin their lives. It delays the inevitable. Borrowing money to pay off money just increases the debt and increases the worry."

Lance Kennedy from Cornwall Council said, "Loan sharks are like marauders who attack the weak and vulnerable, people who have been reduced, often through no fault of their own, to desperation. They are fooled into a short term solution which turns into a long term nightmare, help us to stop these people who prey on the community. It is time that we, the community, started taking back the streets and estates by helping each other."

The campaign is launched on Monday at 7pm at the Residents Association Meeting held at the Neighbourhood Centre, 72 Parc an Tansys in Camborne.

If you are worried about an illegal money lender you can contact a confidential helpline twenty-four hours a day on 0300 555 2222.

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