Posted by: rowenawilcox | March 2, 2010

Corrie knows best and teaches Wales’ Illegal Money Lending Unit a lesson

Wales Illegal Money Lending Unit uses Coronation Street as a lesson on how to clamp down on loan sharks
 
Millions of soap fanatics are currently gripped by a story line on Coronation Street that sees Joe McIntyre struggling to pay off his ever increasing debts from an unscrupulous loan shark.
 
Pursued by the vicious loan shark Rick, Joe has ultimately paid with his life after his scheme went dramatically wrong, leaving wife Gail to pick up the pieces and faced with a possible murder charge.
 
However, according to the Wales Illegal Money Lending Unit loan sharks are not simply part of a scriptwriter’s imagination and could be operating in a street near you!
 

Quizzed: Corrie's Gail questioned by police over husband Joe's death

With the recent economic crisis, many people in Wales may have turned to a loan shark for quick funds and the unit has warned of the devastating consequences that can have.

 
Councillor Judith Woodman, Cardiff Council Executive Member for Communities, said: “The Coronation Street storyline has been written for dramatic impact, however thousands of households face debt problems in Wales and are exploited by illegal money lenders every year.”

Steven Hay, Trading Standards Manager for the Wales Illegal Money Lending Unit, said: “In real life when people turn to loan sharks it can lead to stress, misery and despair with the loan sharks often using threats and intimidation to enforce the debts”.
 
The Wales Illegal Money Lending Unit was launched in February 2008 by Cardiff Trading Standards following successful pilot projects in other UK cities.

It works in partnership with other agencies and local authorities throughout Wales to bring an end to the exploitation of some of our most vulnerable members of society.
 
Don’t be reeled in by a loan shark like the Corrie cast and contact the Wales Illegal Money Lending Unit 0300 123 3311 in confidence. Email imlu@cardiff.gov.uk or text ‘loan shark’ to 60003, if you are a victim of a loan shark or know someone who is contact.

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