Loan sharks are the target of a new campaign by the Office of Fair Trading (OFT). 200000 leaflets and posters are being handed out warning people of the dangers of borrowing money from illegal lenders. A good debt management plan is vital for people struggling to make repayments. An Individual Voluntary Arrangement (IVA) is a good solution for people owing more than £15000 in unsecured debts. Debt Relief Orders (DRO) are available to vulnerable borrowers owing smaller amounts. The OFT says it has already helped 11500 people write off illegal loans.
Campaign against loan sharks
May 28, 2010 By
