Steps to be taken to prevent group of lenders who offer loan at high rates and use threats to recover it.
December 7, 2006 (Press Release) --
London ( e-secured-loans) 05 December: The government has announced that it will take steps to stop illegal money lending. It is to take measures for preventing group of lenders from offering loans at high interest. Measures also will be taken against those who use threats to recover their money.
It has also been announced by the government that it hopes these measures will increase the sources of credit for those who are financially excluded. £1.2 million has been made available by economic secretary to the Treasury Ed Balls and trade and industry minister Ian McCartney to curtail illegal money lending.
Already two pilot projects have been conducted in Scotland and the West Midlands over the last two years to deal with this illegal loan issue. The new funding is hoped to benefit other parts of the country, such as Liverpool and Sheffield.
About e-secured-loans: www.esecured-loans.co.uk is an affiliate of shakespearefinance ltd. It arranges customised secured loans for UK borrowers with the help of its tie-ups with the leading lenders in UK.
It has also been announced by the government that it hopes these measures will increase the sources of credit for those who are financially excluded. £1.2 million has been made available by economic secretary to the Treasury Ed Balls and trade and industry minister Ian McCartney to curtail illegal money lending.
Already two pilot projects have been conducted in Scotland and the West Midlands over the last two years to deal with this illegal loan issue. The new funding is hoped to benefit other parts of the country, such as Liverpool and Sheffield.
About e-secured-loans: www.esecured-loans.co.uk is an affiliate of shakespearefinance ltd. It arranges customised secured loans for UK borrowers with the help of its tie-ups with the leading lenders in UK.
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