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BBC Panorama - Swimming with Loan Sharks

fermi
fermi Posts: 40,542 Forumite
Part of the Furniture 10,000 Posts Combo Breaker Rampant Recycler
in Debt-free wannabe
http://www.bbc.co.uk/programmes/b00p2cnx
Loan sharks are thriving in recession-hit Britain, as the poor and vulnerable run out of credit and find themselves relying on criminals instead.

Reporter Simon Boazman finds the victims who have suffered brutal violence, and looks at the lenders who can charge 17,000 per cent interest.

:eek::eek::eek::eek:
Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB

IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed
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Comments

  • Ames
    Ames Posts: 18,459 Forumite
    When I was looking at bankruptcy my mum said I should go to a loan shark instead. Needless to say I ignored her!

    Looks like a good programme, I'll set it to tape.
    Unless I say otherwise 'you' means the general you not you specifically.
  • RAS
    RAS Posts: 36,149 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Ames - well done for having a proper sense of priorities. I felt sick reading that.
    If you've have not made a mistake, you've made nothing
  • fermi
    fermi Posts: 40,542 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker Rampant Recycler
    Ames wrote: »
    When I was looking at bankruptcy my mum said I should go to a loan shark instead. Needless to say I ignored her!

    Gotta admit, that shocks me as well. :(
    Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB

    IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed
  • tealady
    tealady Posts: 3,851 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Mortgage-free Glee!
    Hi. If anyone is struggling with a loan shark then please contact the Birmingham City Council loanshark team. They can help. For people who don't live in Brum they can point people to sources of help. Don't allow these illegal moneylenders to make more money.
    Find out who you are and do that on purpose (thanks to Owain Wyn Jones quoting Dolly Parton)
  • Ames
    Ames Posts: 18,459 Forumite
    I don't know about having a sense of priorities, I think I just had some sense full stop! My mum doesn't really know what she's talking about with these things.
    Unless I say otherwise 'you' means the general you not you specifically.
  • fermi
    fermi Posts: 40,542 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker Rampant Recycler
    edited 16 November 2009 at 6:50PM
    Ames wrote: »
    My mum doesn't really know what she's talking about with these things.

    I'm just glad YOU do. :)
    Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB

    IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed
  • Deep_In_Debt
    Deep_In_Debt Posts: 8,579 Forumite
    Part of the Furniture 1,000 Posts Photogenic Mortgage-free Glee!
    I'm hating the bloke already.

    What a [insert own swear word]
    Debt 30k in 2008.:eek::o Cleared all my debt in 2013 and loving being debt free :)
    Mortgage free since 2014 :)
  • fermi
    fermi Posts: 40,542 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker Rampant Recycler
    £500 original debt, to £88,000. :eek:
    Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB

    IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed
  • nekosuki
    nekosuki Posts: 94 Forumite
    fermi wrote: »
    £500 original debt, to £88,000. :eek:

    Disgusting.
    LBM #2 - April 2009 / debt @ LBM £23914
    Current debt October 2011 £15388.
    DFD December 2013
    :money:
  • Deep_In_Debt
    Deep_In_Debt Posts: 8,579 Forumite
    Part of the Furniture 1,000 Posts Photogenic Mortgage-free Glee!
    How do these guys get licences? Shocking.
    Debt 30k in 2008.:eek::o Cleared all my debt in 2013 and loving being debt free :)
    Mortgage free since 2014 :)
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