A PUBLIC meeting is being held in east Durham in response to concerns over people getting into financial difficulties in the current economic climate.

As Government cuts and high levels of unemployment begin to bite, the threat of illegal money lending and even the presence of loan sharks begin to raise their heads - and the residents of Eden Hill, in Peterlee, are looking to provide support in the neighbourhood.

A collection point for a Credit Union - often referred to as the Community Bank- has been established on the estate and the public meeting will warn people of the dangers of high interest loans both legal and illegal.

A spokesman for the organisers said: "All communities in County Durham face the threat of people entering into arrangements that could prove disastrous in the longer term.

"We hear of people taking out loans from legal sources for small sums and ending up in a spiral of debt. Loan sharks could be the next step and this must be avoided."

The public meeting is taking place be held at the Community Facility (formally the Football Club) at Eden Lane, Peterlee, from 4pm to 6pm on Thursday March 8 The first twenty people who attend and wish to join the Credit Union will benefit from free membership.

For further information contact East Durham Trust on 0191-5693511