Asif was paying back £250 cash each month but it was making no difference to the full amount he owed. Asif spoke to Stop Loan Sharks about his small loan and the people he was borrowing cash from. Here is his story:
“I was a driver in Rotherham at the time, and I became friends with two brothers. They were called Mohammed and Saghir. We’d all go to casinos together and gamble.
“Mohammed and Saghir would cheer me on to make larger bets. My gambling was getting bad and when I had no money they would lend me some. I really appreciated the money, to begin with anyway.
“I was able to pay the cash back at first but then they started to lend me more and charge interest of £300 on every grand I borrowed. It got too difficult to pay it back whether I won or lost at the casino they wanted the money I owed them back and the interest.
“Stop Loan Sharks contacted me about Mohammed and Saghir. They’d had a report that other people were borrowing money from them and it was not legal. I knew I had to take a stand and make the statement. It was hard but I knew that it was the only way to manage the debt and stop Mohammed and Saghir lending money illegally.
“I was threatened by my neighbours though. Nobody believed it of Mohammend and Saghir. When they started approaching my family I knew I had to move away from Rotherham.”
Stop Loan Sharks spoke to Asif and took a statement on Mohammad and Saghir the loan sharks. Our team investigated and prosecuted the brothers. In court they pleaded guilty to illegal money lending and are now serving a custodial sentence. The £200,000 they made from being loan sharks will be repaid to the government. This in turn will help fund projects run by Stop Loan Sharks in communities across the UK.
We can help. Loan sharks are the ones breaking the law, not you. Call us on 0300 555 2222 or complete our online form to safely and anonymously report a loan shark.