Ensuring your finances stay afloat may make you consider borrowing money from a loan shark. Loan sharks are unregulated and illegal money lenders that will offer loans with no paperwork, often very quickly.
On the surface, this may seem like a quick fix to resolve money struggles. However, loan sharks often charge extremely large amounts of interest, resulting in your debt increasing further.
There are currently around 1.08 million people in debt to a loan shark in England. If you’ve found yourself in debt to a loan shark there is free and confidential help available. You’re not alone and you’re not in trouble if you have borrowed from a loan shark. It is the lender that is committing a criminal offence, not you.
Karbon Homes Customer Accounts Team recently received training from the Government funded Stop Loan Sharks Team who investigate and prosecute illegal money lenders and provide support for borrowers in England.
If you have borrowed from a loan shark or are worried about someone else, please contact us and we can provide you with advice or refer you to Stop Loan Sharks specially trained staff who can provide you with emotional and practical support that is tailored to your needs. This might involve help with housing or debt issues, referrals for health problems or even advice about borrowing money safely.
Keelman Homes tenants have access to the Money Matters Team at Karbon Homes who have one of the largest advice teams in the North East. All their staff are ready to chat, Monday to Friday, and they’re all experienced in listening, not judging, and giving sensible advice to make your life easier. They can:
- Help you get to the bottom of your finances
- Look for ways to increase your income and reduce your outgoings
- Explain the options you have and how they affect you
- Keep you informed about any action we take and the progress of your enquiry
If you are struggling with debt, please contact the Money Matters Team at Karbon Homes on 0808 164 0111 or email moneymatters@karbonhomes.co.uk or fill out a self-referral form here.
Unsure if you’ve borrowed from a loan shark? If you answered yes to any of the below questions it’s likely that you have and should contact Karbon Homes for advice.
- Did they offer you a quick loan?
- Did they appear to be a friend at first, but now you’re not so sure?
- Did they say there was no need for paperwork?
- Did they add extra charges or huge amounts of interest to your loan?
- Have they threatened you?
- Are you scared of people finding out?
- Have they taken your bank card, passport, watch or other valuables from you?
