Loan Sharks go to Extreme Lengths

Alleged lenders have been cold calling householders and luring them in to taking out loans using high pressured sales tactics. Borrowers are being deceived out of large sums of money and it is becoming a worrying concern for many householders.

Whilst four million of the population have admitted becoming a victim of a phone scam, there remains an alarming percentage at risk of putting their life long earnings in jeopardy. The typical loss of earnings for the latest scam is a massive £2000, which is well over a few months worth of earnings for many. This is a concerning issue for the public, taking in to consideration the reasons why the victims applied for a loan in the first place.
Borrowers are duped in to paying money upfront in order to receive their loan, only to be told that more money is needed time and time again. Teresa Perchard of Citizens Advice said "In the recession loans can be hard to get and people falling into debt or unable to get mainstream credit are being targeted with ads and direct contacts offering loans that really are too good to be true.”
Before the recession, calls from debt management and loan companies accounted for as little as 5% of all unwanted sales calls made to UK householders. They are now the biggest source representing over 28% of the three billion unwanted sales calls made every year. There is now an even bigger threat of these companies not being legitimate.
“There are ways to deter scams and nuisance calls and registering with us is the easiest. If you are contacted by somebody offering a loan, never pay money up front, verify details with the Financial Services Authority FSA to make sure that they are a legitimate company” says Kathryn Powell of the Call Prevention Registry.
The Call Prevention Registry also has measures in place to help the consumer filter out sales and fraudulent scams. With an expert on-call customer service team, the Call Prevention Registry is available to combat persistent callers on behalf of customers.

If there is a company who persists in calling, this means that they are not abiding by the guidelines and are dealt with accordingly. Reporting cold calling offenders is the most effective way of stopping such nuisance.
“If you need credit, shop around, be wary, use a trusted source and always check the paperwork. Reporting any suspicious calls to us is the most effective way of ensuring that you are not being scammed” adds Ms. Powell.
Customers can register their details with Call Prevention Registry by calling freephone 0800 652 7780 or by visiting www.callpreventionregistry.com. E-mail is available at info@callpreventionregistry.com. Customers can be assured a top level of privacy with a fast and friendly call back service.

ENDS

About Call Prevention Registry:
The Call Prevention Registry was established in 2005 and has since become the UK's market leading service provider in stopping nuisance calls. Call Prevention Registry is totally independent from any marketing or telephone sales agencies and are entirely funded by our members. This ensures our impartiality and guarantees our obligation to uphold our customer's requests for protection from unwanted nuisance calls.

The Call Prevention Registry is the only organisation with the capacity to block unwanted calls from telemarketing companies based in the UK and overseas.

Media Contacts:
For further information or an interview, please contact Miss. Kathryn Powell, Head of PR for CPR Global.
Telephone: (01792) 454180
Mobile:    07792221267
Email:    k.powell@callpreventionregistry.com
Post:    CPR Global, York Chambers, Swansea, Wales, SA1 3LZ.