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How loan sharks prey on poorest Brits
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- เผยแพร่เมื่อ 10 ต.ค. 2022
- As millions feel the pinch from the cost of the living crisis - where do you turn when the ends don’t meet?
For many of those struggling, it's loved-ones, or credit cards perhaps.
But for more than a million people in the UK - thought to be a conservative estimate - the answer is loan sharks.
We've been speaking to those who've had their lives turned upside down after borrowing from illegal lenders, and following the work of specialist detectives trying to tackle a crime that takes its toll in more than money.
In this special report, we've changed names to protect the identities of those who shared their stories, and a warning: there is flash photography from the start.
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Yet these credit card lenders, car finance providers & pay day loan lenders somehow do it legally. What a time to be Alive
Was just thinking the same.
Shocking how they dont go busting their doors down
I'm no fan of pay day loan lenders and the type but they're not gonna turn up at your house and threaten to kill you. Loan sharks make companies like wonga look like saints.
@@SuperMcbonez no but the stress soon will kill you, bailiffs, court orders etc. I see your point though
They're licenced... These are not.
Imagine if we had a system in place that would stop the need for any leeches feeding off the poorest....
Apparently protecting a billionaire's pockets is more important though.
Meanwhile, (online) gambling and sports betting advertisement is going though the roof. Not hard to see how just normal folks can walk right in to a situation that destroys their lives, with these sort of people preying on addiction, mental health issues or just plain bad luck.
THIS comment.
They've just legalised single game betting and advertising for the same in Canada/the United States. Sickening.
People with adhd or autism suffer from impulsivity, acting now without thinking ahead of time. You should have to have a mental health assessment before they allow you to sign up, they should make it so you need a license to gamble, I have adhd and so do my friends i watch all of them spend what little money they have. If they had to have 500 in their bank you shouldn't be allowed to gamble. Its fucked for people who have children and they have to suffer through the actions of the impulsive parent,
Welcome to the UK
@@Mr_Grimbley Very true.
The price of fuel, food, rent, houses etc in this country are absolutely ludacris, people can literally work full time jobs and still not have enough money to exist!
Yep taxes gone higher and higher . Still let people stay by crossing over by boats so are force to pick up bill so can stay in nice hotels
@H4XE7 REAC7 how is it bs " explain please 🤔
That’s kind of the norm in many parts of the world.
The real criminals get to do this legally.
I don't think Barclays come round your house and beat you up if you don't pay your bills
HSBC do though. :-)
@@scoopbls Halifax send Howard Brown after you as well I’ve heard
@@easycoding8255 I totally agree with you. They just use the court system and then the police come to your house to beat you. Also GB is the greatest laundry mat in the world. Dirty money goes to the banks of the Virgin Islands every day. (including russian oligarchs money)
Facts
We have loan sharks in Japan as well, here some of them target struggling small businesses desperate for one time liquidity. Their real intent is to take over their victim's assets after the victims default or when the victims are late in repaying loans that are much smaller than the assets that loan sharks are really after.
Sounds like typical Yakuza tactics.
NY mafia does that too
and some outfits in London
it's lucrative
some people think that they can get away with the money from shark loan. well, they are wrong. If you think you are poor and desperate and you can steal money you gonna pay dearly. Nobody make loans to them because of high risks. Only the shark loan give you loans, and you better pay back or you pay with something else. The shark loans take the highest risk of losing their money, and they will make sure you pay back.
Loan sharks are nasty disgusting vindictive monsters they would make great politicans in the torie party.
I got the police break into my house at five in the morning and arrest me on the same charge. I don't know why they just could not come round later to my place of work where I am the bank manager.
Pure comedy 😂
Lol x
The idea of the police busting bankers doors down is, well, it's inconceivable.
made me lol though.
🤪
@@SuperBobbster After writing it I thought it was in bad taste but nice to know it made some of you happy!
When I was 18 I went 5p over my bank account because I bought something I didnt have enough money for. They charged me £35.
I had a ridiculous charge just like that. Went probably 20p over and had to pay up tens of money.
That happened to me as well but I got lucky since when I went to talk to the banker, the nice lady helped me getting it refunded
Same with me. There is definitely a difference between banks and loan sharks. But to me its just the level of violence that is different.
Tories: it's the immigrants fault, take back your sovereignty, beware of the moose lamb. Just forget all about the tax cuts for ourselves
Quite! I find it absolutely gobsmacking how anyone can think that its' people like us, the 99%, who just happen to come from other countries, could possibly have such a big impact. They don't have a fraction of the money or power to do such things, but the Tories on the other hand. Well, look at the last fourteen years.
It costs a lot to house immigrants and puts pressure on services and social housing
We need to act, this is because of our government and it needs to end now.
This comment is underrated
Loan sharks exists because there is demand for quick loans from desperate people cut off from institutional lenders like banks and lending companies for their needs. Necessity drives desperation. Government should step in so people don't resort to such steps.
I agree but at the same time there’s a reason they can’t get lends because they have history of not being able to pay things back or on time, so at the end of the day I see both sides why should the government or anybody else help with there own money us brits don’t know how lucky we are too many take it for granted, I also have a big heart and hate to see people struggle so I can also see why u would say that
If you get any human being terrified enough to dig their own grave then you deserve far worse…
He could be an actor mate he's sat in the dark and we don't know his name or anything about him so I wouldn't get too upset unless you know him personally...news channels been setting up propaganda storys for 30 years so all I'm saying is if you walk into a pub n somebody tells you a story you don't just belive it do ya so keep the option option open what your watching could be a bit funky....money lenders have existed since the beginning off time in one form or another so it's down too people on there own decisions
Gov are the biggest loan sharks and we have had our lives stolen at birth but we don't hold them accountable in the slightest...
Don’t borrow
@@jshaw4757this comment is from an actor. You’re not a real account bot
@@jshaw4757 That is standard for all interviews like this especially when victims / witnesses are involved to protect identity.
And this is only going to get worse for England this winter thanks to the current brilliant politicians ... 😞
There’s something heartbreaking about the ex-huckster having to explain to the interviewer that “yes, threats DO work!”
£250 to £90,000 ---- that is some APR that
It’s absolutely shocking, but I’d imagine they weren’t paying back and that’s what it accumulated to, still a shame but when u don’t pay a thing it just gets doubled every week or day depending from who
I wish they showed the same gusto when HSBC illegally sold me a ppi.
Provident loan, sitting at 535.3% APR, current price.
They've been at it for quite some time. They're doing very nicely by all accounts.
I have watched a programme called Panorama about Provident. They come to the house. So door step lending to vulnerable people.
Provident have been shut down now
Thank you Channel 4 ... Another excellent report!
Bunch of communists.
doesn't this whole industry exist basically because banks don't lend? properly regulated government guaranteed loans like during 2020 can put sharks out of business
This industry exists because the banks lend which causes prices to inflate which prices poor people out of the market then banks refuse to lend to those people effectively turning them into serfs with no upward mobility.
Banks want established rich clients to lend to
Worst of humans are those that take advantage of those that are suffering and desperate
It is extremely dishonest to present loan sharks as the reason where they are merly the free market response for a broken financial system!
People need money that they don't have. Even if every loan shark in the country is caught and imprisoned, that doesn't actually help pay for food, shelter, or whatever.
That this is how our country has become is utterly, utterly broken.
just print more money ?
😂😂😂
@@888ssss that would only work if they gave that money to the people instead of thier friends. Of course when you put money into the system some has to be taken out, which you do through taxing more or adjusting the gilt market. There's no chance the Torys will ever tax more especially not the wealthy who need to pay more, but they've also fucked the gilt market too.
@@northernnaysayer1240 The Tories (correct spelling) raise taxes.
Rishi Sunak did it FIFTEEN TIMES HIMSELF:
That’s 15 tax rises in three years, were you in a coma or something?
These are:
1 - Corporation tax increase, announced budget 2020
2 - Council tax measures, announced spending round 2020
3 - Reduction in entrepreneurs’ relief for capital gains tax, announced at budget 2020
4 - Corporation tax increase, budget 2021
5 - Income tax personal allowance freeze, budget 2021
6 - Inheritance tax threshold freeze, budget 2021
7 - Capital gains tax annual exempt allowance freeze, budget 2021
8 - VAT registration threshold for business freeze, budget 2021
9 - Health and social care levy (the National Insurance hike), autumn budget 2021
10 - Dividend tax, autumn budget 2021
11 - Freeze in starting rate band for savings tax, autumn budget 2021
12 - Freeze in adult ISA subscription limit, autumn budget 2021
13 - Income tax basis period reform, autumn budget 2021
14 - Council tax measures, autumn budget 2021
15 - Freeze in student loan repayment threshold, announced January 2022
Please for the love of all things good do some fffking research before you flap your fingers again.
Google stuff before you say it, limit your likelihood of being fake.
@@northernnaysayer1240 and you still haven’t told us what “legal qualifications” you actually have.
They use the same tactics the police and government have been using since the beginning.
Loans sharks are the lowest of the low. Avoid them at all costs. Nothing is worth it. I am sorry to people who have experienced this.
That woman on the phone said she would use them. She shouldn't. One reason is she has 4 kids, who might end up with no mother.
@@sandrafinbardamn…
Who will deal with the so called legal ones? Banks created this problem but government is not looking them.
42.6% APR on £500 over 12 months on that company’s site...
Better than the 29,000% charged by those payday loan companies, I suppose
Genuine question, why are banks allowed to lend money, but private individuals cannot?
Were you asleep during the whole video?
Eh that officer is straight up lying about him needing to give up his pin. The police need to obtain written permission from a judge after seizing the device before they can require you to give them your pin.
There are an uncomfortable amount of videos of them lying to people its unfortunate you can't trust them
THANK YOU! The intimidation tactics the police use, to try to make their job easier is disgraceful
Straight up just say na let me speak to a solicitor then il talk to you about the "offense"
Your channel doesn’t make it obvious that you have legal qualifications…
If some paedo was texting your young daughter, would you want the cops to try and blag the phone off them or not?
If not, why not?
It’s no different here really.
I bet all the victims want his phone checked out, eh?
Compassion much?
Loan sharks and scammers are a special level of subhuman.
You want to grow the economy? give money to the poor, they will spend it on goods and services, not hoard it away in tax havens.
i hope someone saves these families.
Nope i doubt that
Why is C4 not disclosing this program was from 2020.... @06:29 The lady on the phone says "in 2020 you just don't expect it." More sensationalising from C4 for the clicks.
I think the lady on the phone was the one who got the date wrong. Not C4.
@@stephenwalker2924 Hmmm if you think so.....??
Government is to blame Terrible policies
Loan sharks are Scumbags
I agree that illegal money lenders are terrible. The police officer here though saying to the suspect that it is illegal not to reveal your pin when asked by a police officer is also intimidation as it is not illegal.
that's what I thought but it turns out if a judge gives permission they can serve a notice to say the pin must be handed over, failure to do so can result in 2 years in prison (or 5 for cases related to child porn or national security)
The phone will contain content revealing evidence of threats to borrowers. That's why the phone pin i required.
Debt really used to worry me. It doesn’t anymore. We are all in debt and they can’t control it all and come for us all. I’m not a criminal because I am not rich. I get bills now and I decide which ones I want to pay. Not been locked up yet so it’s going ok 😄
The only debt anyone should ever worry about is debt u owe the government or a scumbag loan shark. If you don't owe them, then u don't have to worry about losing your freedom or your kneecaps.
The only trouble with Credit Unions is I have a poor credit rating due to sudden disability and having to give up work and being unable to pay debts. Despite a few years on a reasonable works pension and paying off debts, credit unions still refuse me a loan, so they are not always helpful.
If you use your union to save with after a while they will let you lend based on your savings, if you prove you can save £20 a week, in their eyes you can afford a £20 a week repayment.
I guess if he could save £20 a week, he wouldn’t need a loan, though I do understand how Credit Unions have to safeguard themselves. 😊
Basic economics dictates that if you increase the benefit levels paid to the lower income tranches of the population then they will spend it almost immediately and nearby because they cannot afford to think of setting up savings or investment accounts. This then becomes an advantage to local businesses which are the ones under great and possibly fatal pressure. Benefit increases to the well off are most likely to just be hoarded to make them richer.
how dare you suggest something sensible like that. and since the government seems to be run by a bunch of clowns wouldnt surprise me if the benefits went up by a fiver a year and they said that was more than enough to help people out.
Yea, i think the unequal distribution of spending power is the main reason for poor economic growth.
It's amazing that Liz Truss is still pushing the trickle down economics narrative.
🎯👌😎👍
I don't understand why all of these modern day leaders are trying to convince the population that giving tax breaks to the rich will have a trickle down effect even though there is not a single economic model or situation where that has ever actually happened. Everybody likes to talk about the United States but they always forget every time the United States has a wage increase it's because it's written into law not because the rich people want to trickle it down to the poor people
The government and Banks do this- but of course that it perfectly acceptable
But bailiffs and debt collectors do this all the time legally 😍
Not here they dont. 🇺🇸
@@samuraineko3 nah they just steal your stuff lol
@@samuraineko3 If you don't let them in they'll just take you to civil court and have an order placed on your income.
Bailiffs don't act like the goodfellas
Any economy built on interest is wrong. Money should be lent to help and aid.
This county spent billions fighting in Iraq, Afghanistan, and so on. Now can’t even feed their own people or service men. Allah protect the poor people and children. Ameen
Universal Credit should be scrapped with legacy benefits reinstated and uprated to cover cost of living crisis. Benefit loans should be cancelled with benefit loan debts written off. Benefits grants should be reinstated.
Plenty of companies out there charging extortionate rates and sending their big intimidating debt collectors to People's homes? What a fair and equal country we live in.
If you haven't got the money now, what makes them think they will have double the amount to pay back the loan shark next week?
@@Mr_Grimbley No, not at all but at the same time the logical side of my brain can't help but think "I'll be hungry and cold again next week, except I'll also have someone threatening to smash my head in and run over my kids". Personally, if it we me, I'd stick with the first option.
It’s not a pay back double interest rate, and the truth is it’s almost always drug addicts that borrow from sharks and not struggling families, not saying it doesn’t happen to them too though.
@@Mr_Grimbley Talk to people irl
How can we call ourselves a civilised country that people are so desperate they resortt in this. Barb
Are they talking about the rootless clique at the Bank of England? I mean, Why do we pay banksters interest for creating money out of thin air when we could print it ourselves?
If that loan shark needs the money to feed her children, why is she lending money out in the first place? Her story is BS
Go to food banks not loan sharks
The crazy thing is the people who take these loans are the people who probably can’t pay it back. Crazy.
For the mother of 4.We,me and my partner are full time working.We wanna have a kid..we don't have a house and security.. we're earning above the average,but we still can't afford it and we reach that age that it's too late to have a kid...so what about 4?
These lenders are just filling the „no questions asked“ market gap.
All the fault of government indifference.
£250 loan and having to pay back over £90,000 wtf 😂
exactly loan sharks are crazy
@@meechie1671 how does a 90 grand repayment come about like that on 250 quid it’s so bad it’s funny
And that's why it's illegal, but some people, (in the comments) have a hard time understanding that.
@@veronicamoody3981fr
The middle class is officially dead
Maybe they should send these guys round to parliament, they seem to be counterfeiting money. Print print print
is it really an offence to not give your phone code when asked?
Edit: if so that's a horrifying invasion of privacy.
Should be "show me a warrant first" lol
They don't even need the code, asking for it and the person refusing is used against them in court.
J Lang that’s exactly why they say what they do, so they can write in their report how you refused, they look for any opportunity to make you out to be a wrong en
Not many years ago you were advised by the police to turn your phone off and if it’s needed in the investigation that will be dealt with at that point and they have a machine/computer to get into it anyway, shouldn’t even be talking about the phone there and then it’s evidence
You will soon learn privacy is not a right if you break the law sonny.
if lending to a friend get them to give you something of equal value. no security no loan.
but generally don't loan anything. you won't see it again.
This right here!
Nah I'll lend a friend upto like 30-50 quid without getting too worried about it. Real friends pay you back and its best to only lend money to people you trust. Also only lend money you can afford to lose. If you need that cash to live on anyone who respects you won't expect you to part with it.
If you want someone to give you something equal to the value of the money they need, then that sounds like it's just a sale.
I go by my nan's principles of, "Neither a borrower nor a lender be. If you can't save up for something then you don't need it. Live within your means. If your income isn't enough get your thinking cap on to find ways to earn extra."
@@SuperMcbonez: Agreed. Don't mind helping out people I'm close to with things/cash I can accept losing, and especially so if I have enough faith in them to be honest. I'd look at it as a "donation" that I maybe might get given back, but "luckily" I don't have many people close to me or who often ask me for help...
The rich get richer this pandemic and the poor get poorer.
Sales in Merc went up 20%.
1:00 this is called key disclosure law and it's diabolical. Also loan sharks and bankers are the same thing, the only difference is bankers have more powerful friends.
Winston Churchill was of them.....
This is confusing. Just looked it up and apparently several people have been charged in the UK for not providing passwords.
I've always been told I'm not obliged to help the police in anyway and that it's best to tell them nothing. If they really want to get into your phone they can confiscate it and send it to their, most likely understaffed, tech unit.
Seems pretty stupid for it to be crime for to me to not tell a police officer my passcode.
@@timsyoutube6051 Not telling an officer anything at least until you have legal representation is still the best thing you can do, even if not giving them your password is an offence.
@@timsyoutube6051 the police have such low IQs, I'm surprised they have a tech unit.
Paying off a loan shark could be termed 'consolidating debt' to get around the rules. I remember provident giving out vouchers before Christmas back in the day, no credit checks but interest was so high. I used them several times but you'd spend a whole year trying to pay off that 200 quid as sometimes the fiver a week just wasn't there to give .
Now your Queen is dead, has the Royal families ownership of Wonga and Brightlight also ceased?
When the voters had the chance to vote for labour leader Jeremy Corbyn they voted for Boris conservative. Now they are paying the price.
Oh they are loving it, in fact they would vote Boris again if they had the chance to
There are plenty of "respectable businesses" who lend money to people and collect it back with interest. They also need to raid the home of every bank manager.
Well said
Exactly 💯
Yeah but they're at least somewhat regulated, there's limits on interest rates and they can't break your thumbs if you don't make payment. Obviously these people need better options but let's not pretend a loan shark is the same as a bank FFS
Those same businesses don’t force people to pay back with violence or death threats or worse yet, forcing people to be S*x workers if they can’t pay. These same thugs run a number of illegal businesses in that manner, you’re treating them like saints when they’re worse than payday loan companies. Funny that, justifying such scum.
@@ChuckChuckWood The police explained the reason for the raid at 0:36 but their explanation makes no distinction between banks and loan sharks FFS2.
‘Pay me, pay me my money down. Pay me or go to jail, pay me my money down.’ Remembering this lyrics from the Weavers, since it’s mostly about the negative experiences with loan sharks or debt collectors?
The person borrowing needs to think who is the real blame for this… someone does them a favour and lends them money when they ask for it. They don’t pay it back then cry at the consequences. Who’s fault is it really??
What about all them companies that charge high percentage interest on credit cards sending you letters saying there going to take action...
Once again it’s only legal when the Feds get a piece of the action. The biggest racket ever
Never understand how people can be so broke they need to go to loan sharks...i have my own place, live on my own as a singke man. Regularly buy nice clothes, games consoles, eat out all the time, always out on the weekend...and i still have around £1000 in spare money each month...it's ridiculous how people can't manage their money
£250 to £90,000 wtf
It is scary that there are loan sharks in the UK. Loan sharks are common in the Third World. With benefits available to the poor in the UK it is amazing that the British poor would have to resort to loan sharks.
Are you implying that the UK is not a third world country?
@@buddy1155 by definition it can't be. I'm not sure you understand what third world means.
It means an unaligned country, as in not aligned with the first world(the west) or second world (Russia and China's allies), it has zero to do with economics and more to do with cold War politics.
The phrase you're looking for is: "the UK is a failed state."
Henry, I'm afraid old chap you've not been keeping up. Hardly anyone in the UK gets benifits and around 70% of people who do are actually fully employed. The bosses in the UK don't pay workers enough to live and as a result the government steps in and tops it up to an amount where you are barely hanging on, you don't get to be happy or have fun. You just get to a exist as a wage slave, never getting a holiday or car, or chance to buy your own home, nor have kids. Personally I think that if people are willing to risk thier lives to move to this shithole then life must be really bad elsewhere.
@@haiyaninedinburgh5737 my brother in christ, have you not walked outside your door? How can you be so ignorant to not see that's what everyone in the UK is resorting to. People wear coats inside to keep warm, most people haven't put the heating on yet, despite it dropping to below 5 om some days. Most people are skipping a meal or two per day just to feed thier kids.
You want proof? I'm sat indoor in 4 layers, one of which is my outdoor coat, I havent put the heating on yet and will wait till it drops below zero again, for the third year in a row. I also, only eat 2 meals a day maximum now because we vantage afford that much food even though we don't have kids. I also get paid over 20k a year whereas the average wage were I live is 12-15k a year.
People are going to die this winter ter due to deprivation. Again. I'm sure you're the type of person who would immediately just add the tally to the hundreds of thousands dead over the last decade due to austerity and tory cuts and say its a fair way to live.
There are loan sharks in the US too.
Interest will enslave you.
Hold your heads in shame, Tories, you have caused this!
no shame, unfortunately
Yeah but credit unions still turn most people away .
Loan Sharks? You mean banks?
These guys lend money and demand 2-3 times in return at short notice, to desperate people who simply can't afford it - then break your legs when you can't pay. Seriously, get a grip - this comment section is nuts
@@ChuckChuckWood the comments section is insane they don't seem to get it
The government is to blame
How are loan sharks any different to the banks in this country? 🤔. This world is so corrupt man I give up...
These guys lend money and demand 2-3 times in return at short notice, to desperate people who simply can't afford it - then break your legs when you can't pay. Seriously, get a grip - this comment section is nuts
@@ChuckChuckWood don't be a sod man open your eyes
Loan companies with 99 percent interest completely legal wow should get there priorities right need to make laws against crazy amounts of interest most loan sharks wear a suit and tie and sit in a office
I remember reading about a loan shark a few years ago who charged 1 million percent
I once borrowed a tenner and had to pay back half a million, it was insane
How appalling that famiñies are so desperate.......I feel this Conservative government has lost the plot and the appointment of Liz Truss the last straw.Al least Labour tries to focus on people not suffering too much.I hope with all my heart that Labour gets in again to address these problems As for the loan sharks they are the lowest of the low.......🙏
Survival of the fittest
Call it what you want but the banks are no better.
Wow very very powerful and very informative.
I just hope people take notice of this.
The government wants the poor to suffer my local money lender has helped me feed my children when no one else would help I was sanctioned for my benefit.
The uk has more than 1m job vaccancies . Live within your means and work for your
Money . Simple
I’ve got no arms and legs and I’m deaf and dumb. 😂
Those jobs are often either specialised (e.g. doctor, accountant, nurse), or are not based where people live. Someone can't commute from Birmingham to Somerset, and they can't move for a few months of farm work.
I can only speak for the UK but doing a full time job and paying taxes even on the overtime schedule is as good like being robbed by a mugger cause HM revenue takes it off of you so, from a financial point of view it's the desperation where you're going to weigh the odds out by the end of the day you want to have enough for your family alone and a government that's lead by a person so out of touch with the ordinary folks reality is a nightmare to become reality we're working our nads off without the luxury that should come along with it this is demotivating but I understand, that the people, desperate to go for loan sharks will take this option cause no matter what you do you're paying extra anyway it's sheer desperation largely misunderstood by the Tories I'm surprised Westminster hasn't received a few bricks through their windows I'm not inciting but it beggars belief how these immature prats expects us to get along it's mockery they themselves earn too much for the work they do I wouldn't even call it work
Loan sharks and their debts should be illegal with borrowers loan shark debts cancelled and loan sharks subject to criminal prosecution.
Condolences but driving someone outta town to dig own grave is a sick tactic. awesome to put the fear in their hearts.
This is why lending or borrowing with interest forbidden in Islam people always waiting your down time and take advantage of it 😢.
If working better to get a payday loan than a loan shark
These money lenders have lower interest than most payday loans tho 😂
they took advantage of poor billy. i'm glad they're being cracked down on
Well said .
"Its an offence for you to not give me your phone pin".
But it is not an offence for police to lie during an investigation. So you can't know what the law is unless you have a brief.
Caught in a trap of rising fuel/living/rent costs but not rising wages, funnily enough.
What’s the difference between a high court enforcer and a loan shark coming round and asking for it back apart from the obvious violence when you take that away not very much
I wonder if people just borrow from the loan shark and then call the cops on them?😂😂😂
The bank took my home can you arrest them please
threatened or actual violence or torture or murder is a mechanism used by many horrendous criminals at all levels of society/civilisation around this planet .. I am against that ruthless bullying
There are many legal money lenders too, maybe some don't use violence with unpaid debt but there's no getting away from them and they pray only on vulnerable people like single mothers and desperate people and now in these times it's businesses like these that are thriving and unfortunately many vulnerable people end up wer they see no way out apart from taking thier own lives ...we live in a sad world ...well the less well off do...and there isn't much options other than get into serious debt or turn to crime
Arrest the borrower too. It takes two to tango.
I don't think the borrower should be arrested. I think a lot of people don't even know exactly what they're getting into when they accept one of these loans. I would never borrow from an illegal lender, someone another person recommended or a person turning up at my door.
Welcome to ‘Great’ Britain, brought to you by the Conservative Party!
I’ve heard stories. Translates to:
It won’t happen to me.
If you can’t afford food and hot water this month what makes you think you can afford it next month and pay back your loan + interest next month. Presumably if things are so desperate you’ve already cut out the frivolous spending like drugs, alcohol, smokes, vapes, lottery tickets, scratchies, etc.
Being a single parent with 4 children has nothing to do with making the wrong choices.
It’s been the case for some years that 2 incomes are needed to buy a house. Kids are expensive. The more kids you have the less of a good start you can give to each one. Some people stop at 1-2 children. Poverty begets poverty. Even third world governments like Bangladesh are trying to educate their population about poverty and encouraging them to have fewer children.
I wouldn’t be so crass as to victim blame but one can’t help but notice patterns.
Seeing as "Tara" was noted as fleeing domestic violence though, it's possible that said abuser is the parent of some/all of those children, and all the points that come with an abusive partner. Personally I'm of the opinion that regardless of your position, you shouldn't have a lot of children as if things go wrong it's difficult to take care of them, but that assumes you're in a healthy relationship where you can freely make decisions...
They have no problem taking your money but a problem paying it back?