SNAPSHOT: Shark attack

Nottingham Credit Union development officer Ashley Baxter donned a Santa Claus suit and chased a 'loan shark' through Nottingham city centre last week to highlight the risks run by people on a low income when signing up to high interest loans for Christmas. The recently launched credit union is publicising the activities of predatory lenders while offering its own loans at a flat rate of 1 per cent a month. "If people are paying less money in interest, they will have a less stressful Christmas," said Baxter. Research shows that more than one in five adults in the UK - 7.8 million people - are routinely refused credit by banks, building societies and conventional lenders. The shark suit was provided by the Co-operative Group, a consumer co-operative that provides a range of products and services including food, loans and insurance.

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