The real cost of borrowing at Christmas

Don't get bitten by a loan shark this Christmas
If money is tight this year think twice about turning to a loan shark for money this Christmas. If you have been refused credit you may be tempted to approach rogue lenders or loan sharks (loan sharks are unlicensed lenders, they operate illegally and will lend you money when nobody else will).

Loan Sharks will:
Charge very high rates of interest and you may find it difficult to keep up the repayments.

Force you to get a second loan to pay off the first, causing your debts to spiral out of control. They may also use violence or intimidation to collect debts.

If you want to learn more about the real costs of borrowing money, particularly at this time of year then download the document at the bottom of this page called 'The real cost of borrowing at Christmas'. You will find information on top tips on avoiding overspending at Christmas, borrowing from an unlicensed lenders, a table showing the true cost of borrowing and information on 'Credit Unions'.