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 quick loan?
  • Did they appear to be a friend at first, but now you’re not so sure?
  • Did they say there was no need for paperwork?
  • Did they add extra charges or huge amounts of interest to your loan?
  • Have they threatened you?
  • Are you scared of people finding out?
  • Have they taken your bank card, passport, watch or other valuables from you?

You are not in trouble if you have borrowed 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’re here for you. Get in touch for advice and support

We understand that taking the first step to get help or report a loan shark is scary, but we are here to support you and keep you safe. Complete our form below to safely and confidentially access support or report a loan shark. We can help.

You can complete the form if you think you are paying money to a loan shark or if you know someone who is. You can report a loan shark to us in full confidence and you can remain anonymous if you prefer.

If you are worried about someone you know, you can complete our form below or call our 24-hour helpline on 0300 555 2222 for confidential advice and support. We’ll check the lender out, talk to you about your concerns and let you know what steps you can take to help the person.

Please complete as much information as you can or call us on 0300 555 2222. Our team members are here to speak to you any time of day or night. If you are in Wales or Scotland, please contact your national team for help.


    Worried about someone else?

    Click here to find out about how you can help.

     

    Help for businesses

    I run a small business and I’m in debt to a loan shark. Can you help?

    At the Illegal Money Lending Team, we’ve supported tens of thousands of people in escaping the grip of illegal lenders. Over the years, we have encountered small business owners who borrowed money for business purposes, only to later discover their lender was operating illegally.

    If you’re a business owner,  here’s what you need to know:

    What types of business can the IMLT help?

    If a business has borrowed money from a lender later discovered to be unauthorised, the IMLT can step in to help. However, certain criteria must be met:

    •  The loan must be under £25,000 and used for business purposes
    • The business must be structured as a sole trader, a partnership with fewer than four partners, or an unincorporated association.

    Who can’t the IMLT help?

    • Any business that takes out a loan for more than £25,000 (this includes sole traders, partnerships of fewer than four and unincorporated associations). Loans for business purposes over £25,000 are classed as exempt agreements regardless of business type and are outside the IMLT’s jurisdiction. Lenders usually do not need to be authorised for business-to-business lending if the loan is more than £25,000.
    • IMLT cannot investigate loans to limited companies or other business types not listed above

    Some signs of a loan shark

    • No paperwork or formal agreement
    • High interest rates and hidden charges
    • Pressure to borrow quickly
    • Demands for cash payments
    • Aggressive or threatening behaviour when payments are missed

    How to stay safe

    • Always check the lender is authorised via the FCA Financial Services Register (link)
    • Avoid taking loans without a written agreement
    • Be wary of the red flags listed above and explore safer alternatives — such as Community Development Financial Institutions (CDFIs), local authority grants, or government-backed loan schemes

    If you need help or advice, call our confidential 24/7 helpline on 0300 555 2222.

    What happens after you get in touch?

    We will be with you at every step of the way. Our investigators work alongside our Liaise Officers. They will give you one to one support if needed. This might involve help with housing or debt issues, referrals for health problems or even advice about borrowing money safely.

    If you decide to report, our investigators take the information you give us and start to look into what is going on. Their aim is to gather enough evidence to build a case against the illegal lender.

    How we help

    Stop Loan Sharks investigate and prosecute loan sharks. Our official title is the England Illegal Money Lending Team. We are the lead organisation in England with the power to prosecute loan sharks and illegal money lenders.

    We also have a team of LIAISE Officers who can offer specialist support to those who have been targeted by illegal lenders.

    Since 2004, we have helped over 32,500 people who have borrowed from loan sharks. Read Maria’s story to understand how we help.

    Is your lender legal?

    If someone is lending you money they must be registered with the Financial Conduct Authority.

    Search their database to see if the lender is legal or call us on 0300 555 2222 and we will help.