Consumers Are Warned To Be Aware Of Unscrupulous Lenders

Nov. 26, 2006 – Consumers in UK got a stark warning from the Trading Standards Institute (TSI) not to be deceived by the charms of unscrupulous lenders. With Christmas getting very closer, many Brits are planning to take loans to finance their shopping.

London (e-business-loans) 23 November 2006: Consumers in UK are urged by the Trading Standards Institute (TSI) not to fall a prey of the unscrupulous lenders. Since Christmas is getting closer and many people are planning to take out loans to finance their Christmas shopping, there may be chance that they are exploited by unscrupulous lenders.

TSI expressed its special concern for those who have suffered with the collapse of Farepak. With no other option left, these people may approach loan-sharks in order to raise funds for purchasing Christmas gifts. Ultimately, they will end up accepting high interest deals and entrapped in inescapable financial debts.

Chief executive of TSI, Ron Gainsford told that loan sharks prey on the most vulnerable people in society, bringing misery and fear to those who borrow from them. He further told that the pressure to spend at Christmas was greater than ever, adding to the spiralling level of debt in the UK.

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