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25.02.08

Help for Loan Shark Victims Welcomed

Gower Labour AM Edwina Hart today welcomed the launch of a new all-Wales confidential hotline to help victims of illegal loan sharks.

The new hotline - 0300 123 3311 - marks the latest step in the battle against loan sharks operating in Wales. It offers help, advice and support to loan shark victims and their families, and has been backed by the Labour-led Welsh Assembly Government.

Edwina Hart AM said:

“This hotline is an important step forward for the victims of loan sharks in areas like Gower.

Loan Sharks prey on some of the most vulnerable people in our communities by ripping them off with extortionate rates of interest, often backed up by intimidation and threats of violence. They are a menace in our communities.

I would advise anyone who needs help or advice to pick up the phone and make use of this confidential service on 0300 123 3311. The hotline is part of the All-Wales Illegal Money Lending Unit, which is helping to crack down on loan sharks across the country.

Alongside this hotline, the Welsh Assembly Government is also supporting credit unions so that more people are given the chance to save and access affordable credit and budgeting advice.

This combination of measures will help to make sure that the writing is on the wall for the Loan Sharks.”