Home >> News >> Illegal Money Lending

Illegal Money Lending

Wed 22 Apr 2020

The Stop Loan Sharks team are here to help. They are the only government agency in the UK who have the power to investigate and prosecute loan sharks and illegal money lenders.

The Stop Loan Sharks helpline service remains open and fully operational during the COVID-19 pandemic. To safely report a loan shark, call the 24-hour confidential helpline on 0300 555 2222. Or text a report to 07860 022116. Or complete an online report form.

Not sure what a loan shark is?

If you can answer ‘yes’ to one or more of these questions, you might be borrowing from a loan shark:

  • Did they offer you a cash loan?
  • Did they not give you paperwork?
  • Did they add huge amounts of interest or APR to your loan?
  • Have they threatened you?
  • Are you scared of people finding out?
  • Have they taken your bank card, benefit card, passport, watch or other valuables from you?

For more information see the Stop Loan Sharks website: https://www.stoploansharks.co.uk/warning-issued-over-loan-sharks-during-covid-19-pandemic/

For debt and money advice, see the Citizens Advice website: https://www.citizensadvice.org.uk/debt-and-money/