All I want for Christmas

MCU members will know that we work in partnership with The England Illegal Money Lending Team (IMLT) to promote the important work they do in helping vulnerable people being exploited by loan sharks.

We are pleased to share details with you of their new annual campaign which launches today Monday 29^th November to highlight the dangers of using loan sharks and to provide advice of where to go for support.

The campaign, #AllIWantForChristmas, will run across Stop Loan Sharks’ social media channels until Sunday 5^th December and aims to encourage families to avoid using loan sharks over the festive period and report the crime if they have been affected. It also focuses on informing people about the help available if they are struggling with debt and safer ways to borrow money, like using a credit union.

Research carried out by the IMLT has found that Christmas is the second highest reason that people borrow money from loan sharks. Due to the impact of the pandemic this year, it is likely that many families will have been impacted financially and emotionally and sadly, illegal lenders will look to take advantage of those in difficult situations.

There is no doubt that the Christmas period adds huge financial pressures on many people and some may feel that borrowing from a loan shark is their only option. If you are in need of a loan to help you this Christmas please don’t go to a loan shark. Please come and talk to us and we will do our best to help.

Please look out for the campaign and if you are involved with a loan shark or are feeling pressured by one, please report them to the Loan Sharks Team so they can support you and take action. You can call their helpline in confidence 24/7 on 0300 555 222 and you can find additional information and support online at www.stoploansharks.co.uk. You can also live chat the team on the website Monday to Friday between 9am and 5pm (excluding bank holidays).