Illegal Money Lending - Trading Standards Scotland Research

Posted by: Eden Morrison on January 26 2018 | Tagged: Customer announcements

For a large number of people in the UK, falling into a cycle of borrowing credit from illegal money lenders can be a quick and seemingly harmless process, or something which is seen as a last resort.

 

It is understood that many Scotcash customers may have taken out credit from various places before coming to Scotcash, whether this was from high cost lenders such as pay day lenders or rent to own providers, families and friends, or from illegal money lenders.   

 

As part of our January financial health check campaign, we’re working with Trading Standards Scotland who are looking at people’s experiences of using money lenders through independent researchers.

 

If you’ve used a money lender at any point in the last five years, Trading Standards Scotland would be interested in talking to you. There will be a £10 incentive as thanks for taking the time to speak with a researcher.

 

It is understood that this topic can be a difficult one to discuss and there are a number of points to be made clear:

 

  • You do not have to tell Scotcash that you have used, or are still using, money lenders.
  • You will be guaranteed complete anonymity, your name will not appear anywhere in the report, and it won’t be shared with anyone, including Trading Standards Scotland and Scotcash.
  • You will not be expected to answer any questions you don’t want to.
  • You will not be asked to name money lenders. The research holds no interest in the identity of illegal money lenders.
  • No information about illegal money lenders or your discussion will be shared in the report that could be used to identify either you or any illegal money lenders.

 

If you are prepared to take part, please contact Nick from Trading Standards Scotland on 07891 600078, or e mail him at nick@nhhrconsulting.co.uk.

 

By taking part in this research, you can help Scotcash and other organisations to improve on our understanding of money lenders, and how we can better help individuals move towards safer options of credit.

 

 

If you find yourself in a situation where you are involved with a money lender, there are organisations which can help you move safely from the hold of illegal lenders. You can go to www.stoploansharks.co.uk, or you can check to see if your lender is registered with the Financial Conduct Authority Here.