meta_pixel
Tapesearch Logo
Log in
Money Box

Loan Sharks and Car Insurance

Money Box

BBC

Business

4.2825 Ratings

🗓️ 25 November 2023

⏱️ 26 minutes

🧾️ Download transcript

Summary

The official body which tackles loan sharks tells Money Box that for the first time in its almost 20 year history it is seeing people turn to loan sharks to pay for essentials like food and fuel. The England Illegal Money Lending Team investigates and prosecutes loan sharks and supports those threatened by them. We report from Blackpool and visit a credit union - CLEVR Money - where people can borrow money legally and at reasonable cost.

Why some pensioners may have to pay tax next year on their state pension even if they have no other income.

A cost of living payment of £300 will drop into the bank accounts of people on means-tested benefits from Tuesday - find out who's eligible.

And what's driving a rise in the cost of car insurance?

Presenter: Paul Lewis Reporter: Sarah Rogers Researchers: Sandra Hardial and Jo Krasner Editor: Jess Quayle

(First broadcast 12pm Saturday 28th October, 2023)

Transcript

Click on a timestamp to play from that location

0:00.0

On a winter's night in 1974, a crime took place that would obsess the nation.

0:07.0

It was an extraordinary news story.

0:09.0

The story of an aristocrat, Lord Lucan, who's said to have killed the family Nanny,

0:14.0

mistaking her for his wife, then somehow just disappeared.

0:18.0

One of the great mysteries in English criminal history. We're still looking for

0:21.7

Lucan. It's honestly one of the most powerful stories of my lifetime. I'm Alex Fontunzelman. This is

0:27.8

the Lucan Obsession. Listen on BBC Sounds. BBC Sounds, music, radio, podcasts. Hello, welcome to this Moneybox podcast. As the state pension rises and tax allowances stay frozen, more pensioners will be getting a tax demand. If you get a message about claiming the £300 cost of living payment that starts being paid into bank accounts from next week, it's a scam.

0:56.5

If you're entitled, you'll get it automatically.

1:02.4

And as the cost of ensuring your car rockets, what can you do to swerve the high prices?

1:10.3

But first, the official body which tackles loan sharks has told Moneybox that for the first time in its almost 20-year history,

1:12.4

people are turning to loan sharks to pay for essentials like food or electricity. Officially called the England Illegal

1:18.1

Money Lending Team, it investigates and prosecutes loan sharks and supports those threatened by

1:24.2

them. It says the cost of living crisis means some people are taking deliberate

1:28.4

measures to pay their household bills. Loans sharks operate outside the law with high interest,

1:35.0

no paperwork, of course, and sometimes threats if the money isn't paid. Often they come in disguise.

1:41.6

The team says in the first half of the year, more than half of those they've helped,

1:45.6

borrowed from someone they thought was a friend.

1:48.4

The sums borrowed ranged from 30 to 30,000 pounds.

1:52.5

Our reporter, Sarah Rogers, went to Blackpool this week

1:54.8

to illuminate the dark world of illegal lending.

1:58.7

On your box, get set to become!

2:01.6

The arcades and games on Blackpool Promenade ringing out.

...

Please login to see the full transcript.

Disclaimer: The podcast and artwork embedded on this page are from BBC, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of BBC and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.

Copyright © Tapesearch 2026.