Glasgow fears over loan sharks as thousands struggle with cost of living

'The scourge of illegal lending in Glasgow is sadly nothing new.'

More Glasgow families could be forced into the hands of loan sharks or payday lenders as it is predicted 95,000 households will survive on credit over coming months.

Council leader Susan Aitken said “there is a real danger” that many relying on credit will turn to illegal lenders.A council meeting heard social enterprise lender Scotcash, which is supported by the council, provides an alternative offering more affordable loans. “Given the limited access many of them will have to regulated lenders because of their credit history there is a real danger that many of those people will feel the need to turn to illegal lenders.

Sign up to Glasgow Live's newsletter Get all the latest Glasgow news and headlines sent straight to your inbox twice a day by signing up to our free newsletter.The morning newsletter arrives every day before 9am and the evening newsletter, manually curated by the team, is sent between 4pm and 5pm, giving you a round up of the most important stories we've covered that day.Councillor Aitken replied: “The short answer is yes, we are exploring them right now and implementing them.

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