Stop Loan Sharks Week 2025 kicks off on Monday (May 19) with a national campaign to highlight the devastating impact of loan sharks and encourage borrowers to seek support.
The theme this year is ‘We’re here whenever you’re ready’, focusing on the no-pressure, supportive approach taken by the England Illegal Money Lending Team (IMLT), known as Stop Loan Sharks, when borrowers find the bravery to report an illegal lender.
“Being in debt to an illegal lender is more than just a financial burden – it can be terrifying, isolating, and emotionally exhausting,” said Dave Benbow, head of the IMLT. “For many, it feels like being trapped in a nightmare with no way out.”
Dave said the IMLT offered confidential and non-judgemental support to those affected. The team’s LIAISE staff provide tailored, no pressure assistance, while investigators look into the illegal lender’s activities with the ability to prosecute if needed.
“We want to reassure people that any information shared is treated in the strictest confidence,” he said. “There’s no pressure – we’re here to help, not to make things harder.”
People targeted by loan sharks often feel trapped, with many borrowing more to stay afloat, only to fall deeper under control of their lender.
Dave said one borrower who initially felt too petrified to speak out described his situation in heartbreaking terms. When asked by a support worker where he saw himself on a metaphorical ladder out of his situation, he responded: “I can’t even see the ladder.”
Fear, shame, and intimidation frequently stop victims from seeking help. According to the latest Stop Loan Sharks figures, it can take an average of four years for someone to come forward. In 2024, nearly half (49%) of those who did also reported mental health struggles – the highest rate on record. Around 93% of borrowers reported feelings of stress, anxiety, or depression and 40% said they had considered or attempted suicide.
The Stop Loan Sharks team, hosted by Birmingham City Council, operates a 24/7 confidential helpline where trained staff offer immediate support and guidance. For those who don’t feel ready to speak on the phone, alternative contact options are available, including Live Chat and email.
There are 1.08 million people currently in debt to loan sharks in England, according to the Centre for Social Justice (CSJ). That’s roughly 2% of the population who may be feeling trapped and alone.
People supported by Stop Loan Sharks during 2024 have described the experience after contacting the team as life-changing:
- “It feels like a massive weight has been lifted.”
- “You just understand and haven’t been judgemental.”
- “After reporting you came back really quickly which put my mind at rest.”
- “The person on the hotline created an immediate bond with me. I feel so much better.”
Anyone who thinks they may have been targeted by an illegal lender Is urged to contact the Stop Loan Sharks team as soon as possible.
- Call: 0300 555 2222 (24/7 confidential helpline)
- Text: 07860 022116
- Email: reportaloanshark@stoploansharks.gov.uk
- Visit the website www.stoploansharks.co.uk where there is aa reporting form and a Live Chat option, available 9am to 5pm, Monday to Friday.
