Loan sharks and high-interest loans
The major cause of debt is doorstep lenders, illegal loan sharks who charge such high interest that it takes a lifetime to repay.
People on low income, who cannot get loans from high-street lenders, feel they have to use doorstep lenders and loan sharks. The interest payments demanded by these lenders are so high that borrowers can be in debt for life.
Read more about the dangers of
loan sharks and how to report suspected illegal lenders to your local trading standards office on the
Direct. Gov website.
You do not have to use doorstep lenders or loan sharks. You can get a low interest loan you can afford through not-for-profit lenders, such as
credit unions
Moneyline is a not-for-profit organisation, this means that no money is taken out of the company for private gain but reinvested back into the Company to help more people. It has been set up to help people get affordable loans when a bank or building society can't help.
Whether you need help with unexpected outgoings or to cover the cost of bills, Birthdays or Christmas, then give Moneyline a try.
They currently cover Wirral, Warrington and St Helens areas.
If you are interested you can contact the Income Management Team on 0151 224 0201 who will be happy to do a referral to Moneyline, alternatively you can contact them direct at the following offices:-
Wirral Office
Mr Phil Starr
9 Grange Road West
Birkenhead CH41 4BY
Tel: 0151 647 4062
Warrington Office
Ms Tracey Watters
c/o Golden Gates Housing
Bank House
88 Sankey Street
Warrington WA1 1RH
Tel: 01744 746526
St Helens Office
Ms Tracey Watters
Century House
Hardshaw Street
St Helens WA10 1QW
Tel: 01744 746526
