Labour MP, Tom Blenkinsop, has today (7th May 2014) condemned practices apparently being employed by loan sharks of targeting mothers outside schools
Tom’s comments came following England Illegal Money Lending Teams claims that loan sharks are targeting mothers picking up their children at school gates.
“This is a deplorable act being used by loan sharks and one that needs to be clamped down on fast. The use of loan sharks is prevalent across Teesside as families are £1,600 per year worse off and many are struggling to cope with the cost-of-living crisis. They often turn to loan sharks and other high cost credit sources as a way out but, in many cases, they just fall into a debt trap.
“I’m pleased to see the England Illegal Money Lending Team is using the money seized from convicted loan sharks to fund projects to educate children about the dangers of illegal lenders. I would urge anyone to report loan sharks as they can be blight on our communities and must be driven out.”