The England Illegal Money Lending Team has today launched a new WhatsApp service, giving people who have been targeted by loan sharks in England a new way to access support and report illegal lending.
The WhatsApp service has been added to the list of ways that people can get in touch with the team to alert them to illegal lending activity across the country or get help and advice.
There is already a 24/7 confidential helpline, an email address, a contact form on the website, and a Live Chat facility.
Like Live Chat, the WhatsApp messaging service will be available Monday to Friday, 9am to 5pm. Messages can be sent to 07700 102773 and they will be monitored and responded to by an officer during those times. The service is discreet and the Stop Loan Sharks logo will not be visible on screen. Dave Benbow, head of the IMLT, also known as Stop Loan Sharks, said: “We want to make it as easy as possible for people to get in touch with us to report a loan shark and to access our specialist advice and support. We realise it can be difficult for some people to make that first step and to admit that they have borrowed from a loan shark. We hope this service helps make taking that initial step a little easier. Many people will already be familiar with WhatsApp and feel comfortable using it – they can send pictures, stop a conversation at any time, but then go back to it at their convenience – it has a lot of advantages.
“However people choose to get in touch with us, every call or message is treated in complete confidence, and we are here to help, not to judge.”
There are up to 1.08 million people in debt to loan sharks in England, according to figures from the Centre for Social Justice (CSJ).
The IMLT is a national organisation, hosted by Birmingham City Council. It was created in 2004 to investigate and prosecute loan sharks and support borrowers. Over the past two decades it has supported over 32,500 people and written off over £91.6 million worth of illegal debt, securing over 430 prosecutions for illegal money lending, leading to over 612 years in jail.
Many illegal money lenders are well known within their communities and are often introduced to borrowers through friends or family members. They are unregulated and give loans with no paperwork, charging extortionate interest rates. They often resort to threats, intimidation and even violence if repayments are not made.
These lenders do not complete affordability checks on borrowers, often meaning they are lending to people who cannot pay them back. Borrowers do not have the protection of consumer law such as cancellation periods and the ability to apply for help if they can’t pay. This causes huge amounts of stress and can impact their other finances – leaving them unable to pay rent or other priority bills.
The warning signs of an illegal lender include:
- Giving you no paperwork or agreement on a loan
- Refusing to give you information about the loan
- Keeping items until the debt is paid such as your bank card or passport
- Taking things from you if you don’t pay on time
- Adding more interest or charges so the debt never goes down
- Using intimidation or violence if you don’t pay
Anyone who has been affected by illegal money lending should call the Stop Loan Sharks 24/7 Helpline on 0300 555 2222 or access support online at www.stoploansharks.co.uk. Live Chat is available on the website from 9am to 5pm, Monday to Friday and messages can now be left via WhatsApp on 07700 102773.
Callers can still get in touch with the team via text on the existing number 07860 022116.
