Fears people across Merseyside could turn to illegal loan sharks to make ends meet
The Citizen's Advice are issuing guidance against using money lenders
Days after a huge increase to the cost of living, there are fears more and more people across Merseyside could turn to illegal loan sharks to try to make ends meet.
We're hearing calls to local Citizen's Advice have risen by a third since it was announced, earlier this year, that the average household would see a 700 pound increase in their heating bills.
That's led to concerns money lenders may use the situation to exploit the most vulnerable.
Carol Johnson-Ayre is from Citizen's Advice on the Wirral :
"We've got an example of someone who started off lending fifty pounds from a loan shark and after about two or three years owed forty thousand pounds and the loan shark kept saying you owe us more so she had to keep borrowing again to get money food food and fuel and bills.
"They will loan money to people and just ask them to pay back at a reasonable rate. They then recommend their friends, they exploit anyone who is vulnerable and ask for huge, huge amounts of money".
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