Sometimes it is impossible to avoid having to borrow money. If you’re going to borrow make sure the interest rate is as low as possible and you shop around. Once you’ve found a loan deal, use a loan calculator to work out what it’ll cost you.
Avoid payday loans. These might allow you to get money quickly, but paying it back could be a very slow, stressful and expensive process. For more information watch our video below:
Loan sharks are illegal money lenders and should never be approached. If you become aware of a loan shark operating in your area please contact the loan shark units who will investigate. Contact can be made anonymously.