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 cash loan?
- Did they not give you paperwork?
- Did they add huge amounts of interest or APR to your loan?
- Have they threatened you?
- Are you scared of people finding out?
- Have they taken your bank card, benefit card, passport, watch or other valuables from you?
You are not in trouble if you have borrowed cash or have been paying back a loan 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 will keep you safe while we investigate the loan shark.
We’re here for you, Report a Loan Shark
Stop Loan Sharks will help you. We understand that reporting a loan shark is scary but we will help keep you safe. Complete our form below to safely and confidentially report a loan shark to our team. 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 or illegal money lender to us in full confidence and completely anonymously.
After you have reported a loan shark to us we will ring you, if you want us to – at a time to suit you – and talk to you about what has happened.
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 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?
Anyone can be a victim of a loan shark – your family, friends, colleagues, neighbours and even you. If you’re worried that someone you know is involved with a loan shark, we have some advice and tips to help you support them.
How do I know if it’s really a loan shark debt?
Common warning signs include:
- Debt that keeps growing even though they’re making regular payments
- Saying bad things will happen to them if they don’t pay on time
- Feeling afraid or anxious about visitors to their home
- Stopping seeing friends and family – emotionally withdrawing from others
- Handing over all their benefits and money to someone they owe money to
- Handing over personal items (bank card, passport, jewellery) to someone they owe money to
- Receiving threatening text messages about money being owed
- Being forced into having sex or committing crimes to pay off their debts
- Being anxious, depressed, withdrawn and experiencing suicidal thoughts
- Showing signs of physical violence, such as bruises, sprains or cuts
- Not wanting to leave their house and shutting curtains to avoid being noticed
If you’re worried a friend or loved one is involved with a loan shark, letting the person know you are concerned about them might help them take the first step and access support. They might not be ready to talk but any information you can get from them could help start an investigation into the loan shark.
What Do I Do If Someone Has Told Me About The Loan Shark?
If someone confides in you that they are involved with a loan shark, it’s important you don’t blame but show empathy to their situation.
It can be harrowing to listen to someone you care about disclosing they are suffering at the hands of a loan shark. We are here to help you – you don’t have to give your details (or your friends/family members) we can just talk you through their options, and the ways you can help.
You can check the FCA register to see if the lender is authorised or send us a message on Live Chat and we’ll check for you.
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.