Government looks to target loan sharks
Published On 24 September 2007
The government has launched a new initiative to try and stop illegal loan sharks targeting people with serious debt problems.John Hutton, the secretary of state for business, enterprise and regulatory reform, announced that specialist teams would be created throughout the country to tackle the problem of loan sharks.
Figures released by the government suggest that schemes already in place have helped 45,000 people with debt problems, but suggested that more than 165,000 households in deprived inner-city areas could be in such serious debt that they might turn to a loan shark.
"Loan sharks are criminals who prey on vulnerable and desperate people. We are committed to shutting these thugs down and bringing them to justice," Mr Hutton explained.
"Our targeted teams will make sure anyone who feels trapped or scared has the confidence to report these crooks and put a stop to their illegal behaviour."
Economic secretary to HM Treasury Kitty Ussher added: "This crackdown sends a clear message that these practices are unacceptable and will not be tolerated, and ensures that the victims of loan sharks have the advice and support they need."
