Tamworth Borough Council has won national recognition from the England Illegal Money Lending Team for its work to support the fight against loan sharks.
The council is now an official accredited partner of the IMLT, the national body that investigates and prosecutes loan sharks and supports borrowers.
The accreditation is in recognition of the work being done by the authority to combat illegal lending in the area, including actively promoting awareness about the support the IMLT offers to those affected by illegal lending.
Staff have also undertaken regular specialist loan shark awareness training so that they can identify the signs of illegal lending and ensure borrowers get the support they need.
The council was also one of the first organisations in the country to become an official Stop Loan Sharks Access Point offering local people a safe place to access support from the IMLT and report loan sharks.
Dave Benbow, head of the IMLT, which is also known as Stop Loan Sharks, said: “We are delighted to welcome Tamworth Borough Council as an official partner. We are hugely grateful for the work staff there do to support us in disrupting illegal lending that causes so much misery in our communities. Partners like this are vital in getting these criminals removed from communities, protecting the most vulnerable and making everyone feel a little bit safer.”
Councillor Andrew Wells, portfolio holder for cooperative council, community partnerships and ASB, said: “We’re delighted to receive this Partner Standard accreditation from Stop Loan Sharks, recognising Tamworth Borough Council’s commitment to supporting residents who may be affected by illegal money lending.
“Loan sharks prey on people who are often in vulnerable situations, leaving them trapped in cycles of debt, fear and intimidation. We want everyone in our community to know that they are not alone and that help is available.
“By becoming one of the first official Stop Loan Sharks access points in the country last year, our staff can provide a safe, welcoming space where people can take that important first step towards getting expert support. Whether someone needs access to a phone, a computer or simply somewhere they feel comfortable making contact, we’re here to help.
“This accreditation reflects our ongoing commitment to protecting residents, working with trusted partners and ensuring that anyone experiencing financial exploitation knows where they can turn for confidential advice and support.”
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 helpline on 0300 555 2222 or send a WhatsApp message to 07700 102773. More information and other ways to get in touch, including a Live Chat service, can be found at www.stoploansharks.co.uk. Live Chat and WhatsApp are available 9am to 8pm, Monday to Friday.
