RESIDENTS worried that they may be borrowing from loan sharks have been advised to join a credit union and ask questions about who they loan money from.

Thousands of people in Swindon received a newsletter as part of a national campaign by the England Illegal Money Lending Team to prevent people in financial difficulty borrowing cash from disreputable money-lenders.

The England IMLT, which is funding the newsletter, is the government body behind Stop Loan Sharks.

It advises that, if people can answer ‘yes’ to one or more of the following questions, then they’re likely to be borrowing from a loan shark.

Did they offer you a cash loan? Did they not give you paperwork? Did they add huge amounts of interest or APR to your loan? Have they threatened you? Are you scared of people finding out? Have they taken your bank card, benefit card, passport, watch or other valuables from you?

Coun Russell Holland, Swindon Borough Council’s Deputy Leader and Cabinet Member for Finance, said: “Loan sharks prey on people who often find themselves in desperate situations.

"It can quickly spiral out of control with victims forced to pay back far more than they initially borrowed and are able to afford.

“They may also be subjected to violence, and other threats against themselves and family members.

“The Council’s Financial Inclusion Policy encourages residents to join credit unions, in order to save regularly or enable them to obtain legal, affordable loans, when emergencies arise."

Anyone affected by loan sharks can contact the team in confidence on 0300 555 2222 or stoploansharks.co.uk.

The Wiltshire and Swindon Credit Union has collection points at the library at John Moulton Hall, Penhill on Tuesdays (1pm to 3pm), at Toothill Church on Thursdays (10am-11.30am) and in Highworth Library on Tuesdays (10am-12noon) and Saturdays (10am-11am).

It’s also merging with the Steam Ahead Credit Union and will continue to run the office in Cavendish Square (open Tuesday, Thursday and Saturday mornings 10am to 11.55am). Collection points can also be set up in other locations, but will need volunteers to assist. The Credit Union can be contacted on 01722 421881.

The Clivey credit union at Pinetrees Community Centre is open on Wednesday mornings between 10am and 12noon and on Saturday mornings between 10.30am and 11.30am.