A new children’s book designed to help young people understand money, borrowing and the dangers of loan sharks is being officially launched in Stoke-on-Trent this October half term.
Doubling Doubloons is a story aimed at Key Stage 2 pupils, created by author and illustrator Phil Sheppard. It has been produced as part of a project funded by the England Illegal Money Lending Team, also known as Stop Loan Sharks, using money seized from convicted loan sharks under Proceeds of Crime legislation
Stop Loan Sharks worked with Phil to develop the engaging, age-appropriate resource that introduces children to important financial concepts while raising awareness of the risks associated with illegal money lending.
The story follows Cat and Frog, who borrow money from Captain Sprinkles to buy ice creams. But when their debt quickly doubles, they begin to discover the dangers of borrowing without fully understanding the consequences.
As well as telling the story, the book explains that loan sharks exist in real life and introduces children to key financial terms including loans, interest, conditions and loan sharks in a clear and accessible way.
Doubling Doubloons will be officially launched at Port Vale FC on Monday, October 26, from 11am to 3pm.
Around 200 to 300 families are expected to attend, with each family able to take home a free copy of the book.
The launch will feature a range of family-friendly activities, including illustration workshops with Phil Sheppard, literacy activities, a ‘Can You Spot a Loan Shark?’ game, arts and crafts, and activities delivered by local organisations.
The project will also be taken directly into schools, with author visits introducing pupils to Doubling Doubloons and a poster competition. Star Academy in Tunstall has confirmed a school visit for Monday, November 16.
Dave Benbow, head of the IMLT, said: “Talking to children about money from an early age can help them develop the knowledge and confidence they need to make safer financial choices as they grow up.
“Doubling Doubloons tackles what can be a difficult subject in a fun, engaging and age-appropriate way. Through Cat and Frog’s story, children can begin to understand that borrowing money can come with conditions and consequences, and that loan sharks are something families need to be aware of. Our hope is that they will also take these key messages home and share them with adult family members.
“We’re delighted to be working with author Phil Sheppard on this resource and hope it will start important conversations about money and safe borrowing in schools and at home.”
Author Phill Sheppard added: “I loved working on this special publication for Stop Loan Sharks. I believe it’s a valuable educational tool for raising awareness of this important issue.
“Creating a book that is fun and engaging for children, while also communicating vital messages to parents and families about what loan sharks are and why they should be avoided, was a rewarding challenge. I’m delighted with the result and hope it helps make these important messages accessible to a wide audience.”
The IMLT is a national team, hosted by Birmingham City Council, that investigates and prosecutes loan sharks and supports borrowers.
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, charging extortionate interest rates. They often resort to threats, intimidation and even violence if repayments are not made.
Unauthorised lenders do not complete affordability checks on borrowers – often meaning they are lending to people who cannot pay them back. These 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 causes huge amounts of stress and can impact their 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 access support online at www.stoploansharks.co.uk. There is a Live Chat facility on the website and the team can also be contacted via WhatsApp on 07700 102773. The Live Chat and WhatsApp services are monitored from 9am to 8pm, Monday to Friday.
