Isle residents are urged to steer clear of expensive payday lenders or loan sharks in this run up to Christmas.
Instead, North Lincolnshire Council asks people to consider not-for-profit local lenders it recommends, to avoid getting in to difficulty.
The advice follows an increase in High Street payday loan companies and online lenders, as high-cost options.
People who need a loan could use one of three regulated not-for-profit lenders in the area: Moneyline, My Home Finance, and North Lincolnshire Credit Union Limited (NLCU), says the Council.
NLCU is also a licensed deposit taker and its member savings accounts are fully covered by the Financial Services Compensation Scheme.
Unlike unscrupulous lenders, these organisations will consider your personal financial circumstances carefully. Some of them can also open bank accounts and help set up savings accounts, while giving debt advice.
Coun Neil Poole, chair of North Lincolnshire Financial Inclusion Group, said: “Christmas is a very expensive time of year, which is why some people often turn to borrowing money. We want to prevent people from using expensive payday loans or dishonest loan sharks.
“We welcome all forms of ethical lending.”
Contacts are: Moneyline: 0845 643 1553 (or 01724 853926), www.moneyline-uk.com
North Lincolnshire Credit Union: 01724 868888 or email: email@example.com
My Home Finance: 01724 844848, http://myhomefinance.org.uk
Call the citizens’ advice information line on 03444 111 444.