Citizens Advice Gateshead has won national recognition from the England Illegal Money Lending Team for its work to support the fight against loan sharks
The branch has been awarded official partner accreditation by the IMLT, recognising the team’s commitment to helping spot the signs of illegal lending and ensure those affected get the help they need.
The IMLT, also known as Stop Loan Sharks, is a national organisation that investigates and prosecutes loan sharks and supports borrowers.
Dave Benbow, head of the IMLT, said: “We’re pleased to officially welcome Citizens Advice Gateshead as a partner of Stop Loan Sharks. We have already developed a positive working relationship with the team, whose dedication to supporting local people and tackling the harm caused by illegal money lending has been clear from the outset.
“Illegal lending can have a devastating impact on individuals and families, causing financial difficulty, stress and intimidation. Addressing this issue requires organisations to work together, share knowledge and ensure victims know where to turn for help. Partnerships like this play a vital role in keeping communities safe, and we’re grateful for the commitment shown by Citizens Advice Gateshead. We look forward to building on our work together to raise awareness, support those affected and prevent more people from falling victim to illegal lenders.”
Andrew Cowey, learning and development manager at Citizens Advice Gateshead, added: “We are incredibly proud to have achieved the Partner Recognition Award with IMLT. This award reflects the strength of our partnership and our shared commitment to making a positive difference in the communities we serve. It highlights the importance of working collaboratively, combining expertise, resources and ambition to achieve outcomes that would not be possible alone. We value the relationship we have built with IMLT and look forward to continuing to work together to create lasting impact.”
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, often adding charges and high interest to loans. They can resort to threats, intimidation and even violence if repayments are not made.
Because these lenders are not registered with the Financial Conduct Authority, 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 can cause huge amounts of stress and impact other finances – leaving them unable to pay rent or other priority bills.
Anyone who has been affected by illegal money lending should call the Stop Loan Sharks 24/7 free, confidential and non-judgemental helpline on 0300 555 2222 or send a WhatsApp message to 07700 102773. Support, including a Live Chat facility can also be access online at www.stoploansharks.co.uk.
Live Chat and WhatsApp services are monitored from 9am to 8pm, Monday to Friday.
