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Does crime pay?


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Saw some of this on the news today (although it didn't mention Warrington Trading Standards :? )

 

One woman had borrowed ?1500 and her debt soared to over ?13,000. She said she'd kept up repayments on the original amount but when she had no money the bloke made her take ?30 out of her childs bank account (all that was all that was in it). :evil:

 

How on earth he managed to get a licence to lend money in the the fist place is unblievable.

 

According the the news report his posh house will be sold and he will be left with nothing... GOOD !!!.....but I missed where the money from the sale will go....

 

Maybe it should go back to repay all the people he has conned with interest.

 

Sadly one young man apparently killed himself when his ?300 loan shot up to over ?3000 in 12 weeks :cry:

 

It's not only loan sharks that people should AVOID like the plague..... but they should also question BAILIFFS and their additional charges/threats etc if they ever call on you to retrieve outstanding debts.

 

It's suprising how many are not actually registered as 'certified' and how many are are even used by council authorities and other large organisations.

 

... rest of my l o n g post just deleted as I may get locked up for telling everyone how to get one over on bailiffs :shock: .

 

Just DON'T SIGN ANYTHING or LET THEM IN FOR A FRIENDLY CHAT.... that's all I'm saying now :lol:

 

Unless they are from the Inland revenue or Tax as they have the powers of god and should be treated with the greatest of respect :wink:

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Perhaps we should be asking why they went to a loan shark in the first place- maybe unable to get finance from other lenders so the question must be- how responsible a borrower did they look to any prospective lender.

 

There is an alarming tendency to borrow at any cost with little/no finacial counselling available until it is too late. A legacy from the bad days of the Thatcher government- borrow, borrow and borrow again.

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There is an alarming tendency to borrow at any cost with little/no finacial counselling available until it is too late. A legacy from the bad days of the Thatcher government- borrow, borrow and borrow again.

 

Sounds more like Labour given the current financial debacle. :?:shock::roll:

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There is an alarming tendency to borrow at any cost with little/no finacial counselling available until it is too late. A legacy from the bad days of the Thatcher government- borrow, borrow and borrow again.

 

I think you will find that loan sharking goes back way before Maggie was even born, but don't let me rob you of the delusion that everything in the garden was perfect before the evil Thatcher came along!! :roll::roll::roll:

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Correct - but we supposedly have "moved on" since then - alas, it seems we havn't. :roll: This guy should have been closed down, as soon as his first victim clocked the interest charge rate, similarly something they should have done with the banks "giving away" money to folk who couldn't afford the re-patments - might have saved us from this economic mess we're now in. :roll:

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Asperity is correct in saying loan sharks go way back, unfortunately there has always been this particular breed of scum who prey on the poor and destitute.

 

Kevofaz 25 writes;

 

"Perhaps we should be asking why they went to a loan shark in the first place- maybe unable to get finance from other lenders so the question must be- how responsible a borrower did they look to any prospective lender"

 

I agree we should be asking why they went to a loan shark in the first place, but I think the answer would be it that it was more through desperation rather than being 'irresponsible'.

Perhaps you didn't mean it in quite that context Kevofax?

 

The tendency to blame the poor for their own poverty, blame the unemployed for the lack of employment opportunities etc. etc. etc. is a legacy from the Thatcher years but one which was whole-heartedly embraced by Blair and is being continued by Brown. There is a sickening disregard, by politicians, of the poorest members of our society and there seems little point arguing who initiated it as all three major parties belong to this particular breed.

 

Who will they blame for the present financial chaos?

Will they ever accept any responsibility?

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Unfortunately the people who become victims of loan sharks are the ones who can least afford it. They are also victims of store cards which offer to let you have all these wonderful things now and pay later. The problem is the pay later comes with outrageous interest rates that leave the poor even worse off and even more prone to exploitation by loan sharks. And so the vicious cycle goes. :cry::cry:

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