A 59-year-old man was arrested on suspicion of being a loan shark following an operation by the England Illegal Money Lending Team (IMLT) in the Stockport area early this morning (January 21st 2026).
The IMLT worked in partnership with officers from Greater Manchester Police to execute a warrant at an address in the Bramhall area. A business premises in nearby Disley was also searched.
Officers seized electronic devices and the suspect was taken into custody to be questioned by IMLT investigators. He was later released on bail pending further inquiries.
The IMLT works in partnership with Trading Standards services from Stockport Metropolitan Borough Council and Cheshire East Council to investigate and prosecute illegal money lenders.
Dave Benbow, head of the IMLT, said: “We work with police, councils and other partners across England to tackle the scourge of illegal lending in communities.
“Illegal lenders are operating in our communities, targeting the most vulnerable and we won’t tolerate this.
“If you this you or someone you know has been targeted by an illegal lender, not just in the Stockport area, but anywhere in England, please contact our team in confidence for expert help and advice.”
There are up to 1.08 million people in debt to loan sharks in England, according to figures from the Centre for Social Justice (CSJ).
The warning signs of an illegal lender include:
- Giving you no paperwork or agreement on a loan
- Refusing to give you information about the loan
- Keeping items until the debt is paid such as your bank card or passport
- Taking things from you if you don’t pay on time
- Adding more interest or charges so the debt never goes down
- Using intimidation or violence if you don’t pay
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, often adding extortionate charges and using threats, intimidation and even violence if repayments are not made.
They 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, send a WhatsApp message to 07700 102773 (monitored 9am to 5pm Monday to Friday) or access support online at www.stoploansharks.co.uk
