Loan sharks are preying on people who need money to get them through Christmas.
Trading Standards officers are warning people to use credit unions and avoid unlicensed lenders.
Staff at East Sussex Credit Union, which is based at Community Base in Queens Road, Brighton, said they regularly receive anecdotal reports of loan sharking.
Manager Colin Holden said: “We always hear rumours that they are about but because of the nature of these guys, people are not prepared to talk about it.
“We know that there are loan sharks circulating in Brighton, and also places like Lewes and Eastbourne, but it is anecdotal evidence.”
Richard Jones, general manager of West Sussex Credit Union in Crescent Road, Worthing, said he suspects illegal lending is taking place in Worthing and Crawley.
He said: “It is difficult to give any tangible evidence but you can make a lot of assumptions.
“There are a lot of legal and illegal companies that charge extortionate rates of interest.”
East Sussex County Council is also warning people to avoid loan sharks.
Anyone with information about illegal money-lending is asked to call Trading Standards on 0300 555 2222, or Consumer Direct on 08454 040506 To contact East Sussex Credit Union, call 01273 234 858, or visit www.eastsussexcu.org.uk.To contact West Sussex Credit Union, call 01903 237221, or visit www.westsussexcreditunion.co.uk.
Have you been a victim of a loan shark? Tell us your stories by calling Ben Parsons on 01273 544520 or leaving your comments below.
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