Event to tackle threat of loan sharks in South Tyneside

The advice and information event will aim to give people support on avoiding loan sharks who operate across South Tyneside.
The advice and information event will aim to give people support on avoiding loan sharks who operate across South Tyneside.

A South Tyneside charity is helping raise awareness of illegal money lenders operating across the borough.

Sight Service is a user led charity providing a wide range of services, support and advice, training and information for visually impaired people, their family, carers and professional bodies across South Tyneside and surrounding areas.

It is now working in partnership with Stop Loan Sharks to raise awareness of rogue money lending.

The partnership has organised a free drop-in advice and information event to be held on Thursday, November 16, from 10am to 2pm, at Sight Service, 10 Gordon Street, South Shields, NE33 4JP. Free refreshments will also be available.

Organisations including Stop Loan Sharks, Trading Standards, Citizens Advice, First for Money and Age Concern Tyneside South will be on hand to provide guidance and support to anyone who has any concerns or would like further information.

There are over 6,000 people with serious sight loss living in South Tyneside and Gateshead alone, and the charity is actively working with more than 2,000 people.

A loan shark is a person or body who offers loans at extremely high interest rates, usually without holding relevant authorisation from the local financial regulator.

They are renowned for lending money at extortionate interest rates. The term usually refers to illegal activity, but may also refer to predatory lending with extremely high interest rates such as payday or title loans.

To report a loan shark, call the 24/7 confidential hotline 0300 555 2222, text a report to 078600 22116, visit www.stoploansharks.co.uk or email reportaloanshark@stoploansharks.gov.uk