Be on your guard against loan sharks and let Muir help you stay afloat
IF YOU are experiencing debt problems do not borrow from loan sharks.
Loan sharks lend money illegally and can ruin people’s lives.
Anyone who has borrowed from a loan shark can report them anonymously.
Contact the Illegal Money Lending Team at reportaloanshark@stoploansharks.gov.uk or by calling their 24-hour service line on 0300 555 2222.
Alternatively, text LOAN SHARK and the lender’s details to 60003
Anyone with information can also phone Trading Standards on 0300 123 6262.
You will not get into trouble for reporting these people.
Debts to Loan Sharks are not enforceable.
If they get apprehended, debts that they ‘hold’ are wiped out and their assets may be seized.
Muir’s Money Advice Team can give you options about creditable alternatives available to you.
Wayne Pearson, a Money Advisor on Muir’s Income Management team said: “Our Money Advisors actively work with residents to get their debt rescheduled.
“This results in residents being in a better position to prioritise their rent and thus keep their homes.
“A number of different options can be used including the use of Bankruptcy and Debt Relief Orders.
“Our Money Advisor’s on-going support and assistance has helped lots of our tenants to sustain their tenancies.”
Another option available to residents is that of Credit Unions.
They aim to help you take control of your money by encouraging you to save what you can, and borrow only what you can afford to repay.
Learn more about how Muir can help, benefits that may be available to you, and about Credit Unions by visiting www.muir.org.uk/rent-and-money