Avoid Scams and Loan Sharks

People worrying about money or struggling financially due to the ongoing situation with coronavirus (COVID-19) are being urged to avoid loan sharks.

Loan sharks are unregulated, often give cash loans without any paperwork and charge extortionate interest rates, which can be difficult to repay. Victims believe the loan shark is offering them a service, but their behaviour can quickly change if repayments are not met.

If you are concerned about your financial situation and need support, Citizens Advice has some useful information on their website.

The Government has published helpful advice if you are self-employed, claiming benefits or needing to make a claim for benefits and statutory sick pay. You can also find more details about statutory sick pay and about making a new claim for universal credit online.

Scams have increased during the coronavirus outbreak – up by 400% - so please be aware and be careful if you are asked to give out personal or financial information.