Rise in illegal lending ‘looking likely’, says Money Advice Trust
Fri 29th May 2009
A rise in the number of people taking loans from illegal lenders and loan sharks will more than likely occur due to the currently tight economic conditions, according to the Money Advice Trust.
In light of this, the organisation is now urging those who have serious financial worries to seek free advice rather than turn to illegal lenders.
Research conducted this month by the New Local Government Network reveals that 200,000 people in Britain cannot access funds from legitimate lenders and are therefore vulnerable to loan sharks.
