at my.wits end

[sharv]

Hi,

 

im completely at my wits end with debt,

 

I owe a out about 10,000,

 

problem being its to loan sharks,

 

im 20 years old and do not work due to disability

 

I have seen plenty of loans that I could afford to pay back wuite easily but am not eligible

because of my age and unemployment has anyone any ideas that may be able to help me before this debt takes over?

[dx100uk]

tell us about this loan

who its with

 

when you too it out

 

what has happened now to make you so desp

wht have they said/done?

 

etc etc

 

dx

[sharv]

tell us about this loan

who its with

 

when you too it out

 

what has happened now to make you so desp

wht have they said/done?

 

etc etc

 

dx

 

Its owed to loan sharks as in private loan sharks not friends off mine but not loan companies either,

 

it's got to the point the only way I can afford to pay it weekly is borrow more,

 

ive been desperate to get a affordable loan to pay these loan sharks

 

but as I said with my age and unemployment nowhere will consider me,

 

im not to sure what will happen if I dont pay it as ive borrowed every week to cover it now

 

its got to the point where I can't borrow enough to cover it,

 

thanks for the reply

[dx100uk]

name and shame please

 

dx

[sequenci]

Debt to Loan Sharks are unenforceable as they are illegal; loan sharks are not licensed to lend money.

 

You should seek confidential advice from the illegal money lending team: 0300 555 2222

[sharv]

I no where use are coming from but they are friends of friends so id like to pay it , what can be done tho to stop them enforcing if I dont pay it?

[Consumer dude]

I no where use are coming from but they are friends of friends so id like to pay it , what can be done tho to stop them enforcing if I dont pay it?

 

If they are illegal they can't be enforced. That's the point..

[BRIGADIER2JCS]

Are you thinking that the 'enforcement' might NOT be through the court system, are you receiving threats.

[sequenci]

Are you thinking that the 'enforcement' might NOT be through the court system, are you receiving threats.

 

And if they are then they NEED to call the number I've posted up.

[BRIGADIER2JCS]

Indeed so this ' loan sharking ' via friend of friends is sadly rife in some communities at present.

[sequenci]

Indeed so this ' loan sharking ' via friend of friends is sadly rife in some communities at present.

 

Had a meeting with the illegal money lending team and they said that the vast majority of sharks operate via friends and friends of friends. It's a pretty disturbing state of affairs.

[havinastella]

How much did you borrow?

[citizenB]

How much did you borrow?

 

First post, havinastella.... £10,000 !!

[stu007]

Hi sorry to hear of your situation please have a look at this link on Loan Sharks it may be of use: https://www.gov.uk/report-loan-shark

 

Also have a look at this link from Citizens Advice Bureau (CAB): http://www.adviceguide.org.uk/wales/debt_w/debt_borrowing_money_e/debt_types_of_borrowing_e/debt_loans_e/loan_sharks.htm

 

And this OFT PDF on Loan Sharks:

Edited October 2, 2013 by stu007

[havinastella]

First post, havinastella.... £10,000 !!

 

That's what he owes Hun

[citizenB]

That's what he owes Hun

 

Oops.. sorry:oops:

[citizenB]

How much did you originally borrow and how much have you repaid already ?

[BRIGADIER2JCS]

10K CB, nothing yet it seems.

[sharv]

Thanks for all the replies

 

originally I borrowed 1000

 

but then borrowed to pay the 1000 back

 

then it became uncontrollable and I always had to borrow to pay back,

 

I have received threats but as its friends of friends the only Option I can see is to get one affordable loan

 

as I said I have seen plenty that's affordable but I am not eligible

 

can anyone point me in the right direction? ?

[dx100uk]

good morning

 

name and shame the company please.

 

you REALLY REALLY REALLY need to seek confidential advice from the illegal money lending team: 0300 555 2222

 

dx

[stu007]

Hi sharv

 

You have mentioned that these are friends of friends that have got you in this position, please bear in mind this is how Loan Sharks operate within there own communities seeking out those in a vulnerable position as you probably were at the time.

 

It is not going to assist you by taking out another loan to pay off this loan from a loan shark that you have no legal agreement with that is probably charging you an extortionate interest rate.

 

I can fully sympathise with your present situation but you really need to listen to the advice you have been given and speak to the condfidential illegal money leading team about this.

 

Can you be 100% sure that you are the only person that they have done this to?

 

Could I ask what Interest they have been charging you on this loan?

Edited October 3, 2013 by stu007

[BRIGADIER2JCS]

Borrowing further to pay these people back will only compound the problem.

Sequenci posted up a number re illegal lending team, please use it for your own sake

and others these sharks may have in their clutches everything is confidential.

[sharv]

My main reason for not phonin for legal advice is because its friends of friends

then it will leave them stuck and maybe being asked to pay my debts?

 

I want to try get one affordable loan that seems to be the only option I can take,

 

I was paying 200 a week interest alone before I could start paying off the loan

 

now its becoming uncontrollable and its really starting to get on top of me

 

all I can thibk about from monday to Friday is where im finding there money

[honeybee13]

Hello there.

 

I think it's worth making the confidential call to the helpline, just to see what they say as they're the experts. If you don't like what you hear, you don't have to act on it, but they may give you a new perspective on things, and will be used to the type of worries you have.

 

My best, HB

[dx100uk]

the number is not for 'legal advise'

 

it is a reporting line & from there you will get help

upon what you can do & what options are available.

 

you need assistance in deciding what to do, rather than just your own thoughts

on just getting another loan to pay this loan.

 

by the nature of this line, and its subject

 

I can assure you it is confidential, and discrete, it will not implicate you in any way to phone them.

 

as I think this is what you are worried about, they will never reveal whatever info you give them is from you.

 

please I urge you, give them a ring talk it through with them

they are the specialists, they will not judge you or get you into any bother

with your friends.

 

illegal money lending team: 0300 555 2222

 

 

dx