PEOPLE in the St Austell area who have taken out loans from illegal money lenders - also known as loan sharks – are being offered free help and support.

A specialist adviser will be on hand at St Austell Library on the morning of Wednesday, March 26, from 10am.

The event will also provide visitors with tips on how to borrow money safely and avoid loan sharks.

The advice session in St Austell is part of a wider initiative across the county.

Cornwall Council’s Library Service has teamed up with the England Illegal Money Lending Team (IMLT) to run a series of talks and events raising awareness about the dangers of loan sharks and the help available to people who have borrowed from them.

A spokesperson for the IMLT, also known as Stop Loan Sharks, said: “Illegal money lenders are often well known in a local area and can target the most vulnerable in those communities.

“By visiting libraries, we hope to reach people in communities across Cornwall to make sure they are fully aware of the dangers of illegal lenders, the alternatives available, such as credit unions and CDFIs, and how they can get help from the team at Stop Loan Sharks if needed.

“Our mascot Sid the Shark will be there, and he is looking forward to meeting lots of people.

“Many illegal money lenders may appear to be a friend at first, offering to do someone a favour by lending money. But they are unregulated and give loans with no paperwork, charging high interest rates.

“They do not complete affordability checks on borrowers, often meaning they are lending to people who cannot pay them back. These borrowers do not have the protection of consumer law.

“Loan sharks can also often resort to threats, intimidation and even violence if repayments are not made.”