Illegal Money Lending
Illegal money lenders, or loan sharks as they are commonly known, are the most dangerous and unregulated form of credit available. Often non payment can result in threats, intimidation and assault. Some reported cases have seen borrowers forced into prostitution and other criminal activity to clear their debt.
Often a loan shark will be someone a friend knows who can lend you a bit of cash and can be seen as providing a necessary service. That is until you can’t afford to pay. If you are in debt to a loan shark, or know of one operating in your community please contact us immediately. Alternatively you can contact the Illegal Money Lending Team anonymously on 0300 555 2222.
Did you know: Loan sharks have no legal basis to recover monies they have lent out. 100’s of people have had their debts cancelled following the arrests of loan sharks.