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, benefits card, passport, watch or other valuables from you?
We can help
The Stop Loan Sharks team are here to help you. We are the only government agency in the UK who have the power to investigate and prosecute loan sharks and illegal money lenders. If you are in Wales or Scotland please contact your national team for help.
You are not in trouble if you have borrowed cash or have been paying back a loan from an illegal money lender, the loan shark is. They are the people committing a crime, not you.
By looking on our website you have taken the first step to getting your life back and managing your money and debts. We will keep you safe while we investigate the loan shark.
You can report a loan shark or illegal money lender to us in full confidence and completely anonymously. After you have reported a loan shark to us we will ring you, if you want us to – at a time to suit you – and talk to you about what has happened.
You will have a LIAISE Officer who will support you throughout the investigation into the illegal money lender.
Our investigators will talk to you about the money you have borrowed, how you repay it, and take further information about the loan shark/illegal money lender. This can become a witness statement that we will ask you to sign. But you can also give this information to us anonymously and in complete confidence.
What happens next
The decision to make a formal witness statement to us is entirely up to you. We know that making the statement can be scary. But your Liaise Officer will be with you at every step to explain what happens next and support you through it.
Your witness statement will help us to take action against loan sharks/illegal money lenders. It will become part of the evidence we will use in court.
If the loan shark threatens you after you make a witness statement to us and you are in danger call the police immediately on 999. Our hotline 0300 555 2222 is available at any time of the day or night.
Getting your life back
Money worries and being desperate for cash can become the only thing you think about. We will help get a loan shark off your back and get you access to local support.
Your Liaise Officer will put you directly in touch with credit unions, advice services, or organisations that will help with your health and wellbeing. We will make sure you have one-to-one support from them to help you get your life back and reduce your money worries.