Want to hear more about Stop Loan Sharks? Why not listen to our appearance on the “Ask The Regulator” Podcast.
Want to hear more about Stop Loan Sharks? Why not listen to our appearance on the “Ask The Regulator” Podcast.
Categories for Blog
Illegal Loan Sharks Cash-In On Cost-Of-Living Pressures
New research*, commissioned by Stop Loan Sharks Wales and The Welsh Government, confirms fears that current financial hardships may drive more people in Wales to borrow from illegal money lenders, more commonly known as loan sharks. 38% say they are more likely to need to borrow money or credit this year to cover everyday costs. 50% of those borrowing needed funds for everyday living expenses; of those, 66% for food and 53% to cover energy bills. 18-34s are most susceptible to targeting by illegal money lenders.
Ara Gambling Service
Worried about your gambling or that of someone else?
Money & Pensions Service – Talk Money Week 7 – 11 Nov
Lee Phillips, Wales Manager for the Money and Pensions Service shines a light on how to be in control when you borrow money, options to consider before using credit or taking out a bank loan, and where to find help and guidance, no matter your situation.
26.10.22 – Llanelli Loan Shark Sentenced To 10 Months
Today, a man from Llanelli was sentenced to 10 months in prison suspended for one year. On the 26th of August 2022, Clayton Liston Rumbelow (49) of Llwynhendy, Llanelli pleaded guilty to illegal money lending up to the value of £100,000, relating to evidence discovered during the execution of a warrant at the defendant’s home address.
Money & Pensions Service – Helping Those Who Use Credit To Make Ends Meet (July 2022)
The Money and Pensions Service (MaPS) commissioned a report to review the latest evidence on the financially vulnerable, with a specific focus on those using credit to make ends meet.
Centre For Social Justice Swimming With Sharks Tackling Illegal Money Lending In England (March 2022)
A study from the CSJ estimates that there could be as many as 1.08 million people could be borrowing form loan sharks in England.
Understanding Money Lending Online in Wales (May 2021)
Over the last year we have received an increase in reports of unlicensed money lenders using social media platforms. To increase our understanding, we commissioned Wordnerds to research online money lending in Wales.