The APPG’s report on the inquiry into ‘Lending and borrowing post-Covid’ states that there is a 'consistent message' about the risk of increased illegal lending as a result of Covid.“Job losses and tighter underwriting policies create perfect conditions; lending business closures and new forms of online illegal lending greatly exacerbate the threat,” it reads.During one hearing, Tony Quigley from the England Illegal Money Lending Team said his team had seen a reduction in people making contact during the Covid crisis.“He anticipated a spike in illegal lending post-Covid, with higher unemployment and greater loan delinquency creating the necessary conditions,” the report states.“His team was aware of newer online forms of illegal lending, as.
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