A WARNING has been issued to householders about doorstep cold callers offering cash loans.
It is feared that people might be tempted to take advantage, particularly close to Christmas.
Complaints reported to North Yorkshire County Council's trading standards service have shown that interest rates charged for the loans are sometimes in excess of 1,000 per cent APR.
In Malton a group of doorstep traders called on people and offered immediate cash loans.
Offering unsolicited cash loans at someone's home is an offence under the Consumer Credit Act 1974.
Coun Carl Les, North Yorkshire County Council's executive member for business and community services, said: "This is despicable practice particularly in a climate where interest rates on loans are at an all time low and these practices are aimed at vulnerable low income households."
Anyone who has been approached should call their local trading standards service.
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