MP backs campaign to raise awareness of loan sharks

A CAMPAIGN to stop loan sharks in their tracks by ensuring that people know that loan shark lending is a crime is being backed by a local MP.

It is estimated that around 85,000 people annually borrow from over 150 separate illegal money lenders operating across Scotland who charge interest rates that are equivalent to over 10 million per cent APR.

The Scottish Illegal Money Lending Unit is leading the fight against these criminals, while the nationwide Stop Loan Sharks campaign seeks to ensure that people know their rights and what they can do about illegal lending in their community.

Livingston MP Graeme Morrice has written to the Community Councils in his constituency to highlight the campaign and encourage them to raise awareness.