PEOPLE are being warned to avoid loan sharks and illegal money lenders during the ongoing tough economic times.

The problem is being addressed during the latest in a series of free advice days organised by Middlesbrough Partnership's Financial Inclusion Group.

A representative of the England Illegal Money Lending Team (IMLT) will be in attendance to offer advice on the dangers involved and how to seek help.

Tony Quigley, who heads the team, said: "We will investigate and prosecute illegal lending and any related activity - in the past, this has included threatening behaviour, violence, intimidation, drugs offences, kidnap and even rape.

"As loan sharks operate illegally, their debts aren't enforceable in law - we have seen APR as high as 131,000 per cent - so they can only resort to other methods to reclaim their debts."

The IMLT runs a 24 hours a day, seven days a week confidential hotline for people to report illegal lending to trained investigators on 0300555-2222.

People can also text 'loan shark + a message' to 60003 or email reportaloanshark@stoploansharks.gov.uk.

Middlesbrough Partnership Financial Inclusion Group chairman John Daniels said: "Family budgets are under unprecedented pressure and it's more important than ever that we are able to manage our finances to make our money go as far as possible - and understand the options open to us when things go wrong."

The advice event takes place tomorrow, from 10am to 2pm, in the West Middlesbrough Neighbourhood Trust Acklam Green Centre, Stainsby Road, Middlesbrough.

For more information or to make an appointment, call 01642-802284 or drop in.