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Cost of living crisis drives 3 million Brits to dangerous loan sharks

The cost of living crisis has driven a staggering three million Brits to loan sharks, new research by Fair4All has found.

United kingdomNeil kadagathurUnion congressTrade union congressDebt justiceBig issue

Lack of credit access forces 6% of UK adults to turn to loan sharks

The UK's credit crisis has led to a surge in illegal lending, with 2.8 million people, especially the youth, facing predatory loan sharks.

United kingdomNeil kadagathurCentre for social justiceSocial justice

Young people most likely to get in debt with loan sharks, as data shows more turn to illegal lending

As many as 31% of people in the UK said they feel that there is nothing they can do to improve their financial situation, according to research from Creditspring.

United kingdomMatt hartleyNeil kadagathurMoney pensions serviceCentre for social justiceMoney adviceNational debtlinePensions serviceMoney advice trust

3million at serious risk as they borrow from illegal lenders

3million at serious risk as they borrow from illegal lenders
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United kingdomNeil kadagathur

Over 3 million Brits admit to borrowing from an illegal lender in the last year

Younger people are much more likely to turn to unregulated lenders with 13% of 18–34-year-olds borrowing from often predatory lenders in the last 12 months

United kingdomNeil kadagathurCentre for social justiceRetail banker internationalSocial justice

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