Millions of Coronation Street viewers are currently gripped by a story line which sees the character of Joe McIntyre struggling to pay off his ever increasing debts from an unscrupulous loan shark.
Pursued by the vicious loan shark Rick, Joe has ultimately paid with his life leaving wife Gail to pick up the pieces.
However, according to the Wales Illegal Money Lending Unit loan sharks are not simply part of a script writer’s imagination and could be operating in a street near you.
Many people in Wales may have dealt with a loan shark or certainly been tempted to do so. Loan sharks inflict untold misery on people and once ensnared it is often impossible to escape.
Councillor Judith Woodman, Cardiff Council Executive Member for Communities, said: “The Coronation Street storyline has been written for dramatic impact, however thousands of households face debt problems in Wales and are exploited by illegal money lenders every year. We encourage loan shark victims to contact our confidential hotline for help and support on 0300 123 3311.”
Steven Hay, Trading Standards Manager for the Wales Illegal Money Lending Unit, said: “In Coronation Street Joe McIntyre’s money troubles have spiralled out of proportion and he has made the crucial mistake of borrowing money from a loan shark. In real life when people turn to loan sharks it can lead to stress, misery and despair with the loan sharks often using threats and intimidation to enforce the debts.”
The Wales Illegal Money Lending Unit works in partnership with other agencies and local authorities throughout Wales to bring an end to the exploitation of some of our most vulnerable members of society.
If you are a victim of a loan shark or know someone who is contact the Wales Illegal Money Lending Unit 0300 123 3311 in confidence. Email [email protected] or text ‘loan shark’ to 60003.
