Call us: Call us 0800 408 0000 / 0300 555 0121

Email housing@cbh.org


 

Keep the wolf from the door….

We’ve recently received reports of loan sharks targeting people in Cheltenham.

What is a loan shark and why should you avoid them?

They are not your friend! Loan Sharks are illegal money lenders who often target low income and desperate families. They will start out appearing friendly and if you keep up your repayments, they might stay that way.

But the reality is, even if you do, any money you borrow will come at a very high price.

There are many risks attached to borrowing from a loan shark:

  • You pay far more in interest than you would through any legal borrowing. One woman who borrowed £500 ended up repaying £88,000
  • You might be harassed or threatened if you get behind with your repayments – there have been reports of people being intimidated or attacked
  • You might be pressured into borrowing more money to repay one loan with another, and end up in a spiral of debit that you can never repay

Help us stop loan sharks preying on people in your community. If you are approached or hear of any operating in your area please report them at www.stoploansharks.co.uk 0300 555 2222 or text 07860022116

 

It may seem like the only option when you are desperate for money but please know that there are other ways to get your finances back on track.

Speak to our team of understanding and knowledgeable benefit and money advisors who can help you by: making sure you are entitled to, offering budgeting advice, helping you negotiate manageable repayment plans.

Call us today on 0800 408 0000 or email bma@cbh.org

Keep your eyes peeled...

on our Facebook and Twitter pages for pictures of Sid the Shark who is making a special appearance around different parts of Cheltenham to say ‘NO’ to Loan Sharks!

 

 
 

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