Sixth Formers taught to ‘spot the sharks’

Posted by on Jan 11, 2016 in News | No Comments

Sixth Form students at saltash.net community school have been learning about the dangers and impact of illegal loan sharks, as part of a push by Trading Standards to highlight the risks that such money lenders pose.

A liaison officer from the Trading Standards’ Illegal Money Lending Team spoke to both year 12 and year 13 about the law surrounding loan sharks, giving several real life examples of the extreme interest rates charged, as high as 8,000,000%, and some of the harassment and intimidation used to force victims to repay.

The liaison officer also explained that anyone concerned about illegal money lending, for either themselves or others, can contact the team on 0300 555 2222. In addition to prosecuting loan sharks, the team can also get the debts cancelled.

Head of Sixth Form, Adam Killeya, who arranged the visit as part of the General Studies Programme, said, “Financial pressures are very high on families at this time of year, and students have often asked for input on these issues. If the visit prompts even one person to help someone they know avoid getting into debt to an illegal money lender, or helps them to get out of it, then that by itself makes the visits very worthwhile.”

After the year 12 talk students and staff posed with the team’s promotional shark suit.