Wherry: Tackling loan sharks in Norfolk

Wherry Housing Association is leading the sector with their model of mainstreaming financial inclusion services and has dealt with £2.6 million of resident debt since the service launched in November 2006.

Wherry Housing Association works jointly with the East of England Trading Standards to tackle loan sharks in Norfolk. To turn the spotlight on illegal money lending among staff and residents, in April Wherry completed a doorstep survey of 400 residents. The results were:

• 26 per cent had been offered a cash loan
• Three per cent had been threatened when they couldn’t pay
• Nine per cent said what they owe keeps growing even though they were making payments
• Five per cent were not given any paperwork stating what they borrowed or how much they owe
• Two per cent said their bank card or something else had been taken from them as security

18/01/10 13:56