Loan sharks lend money illegally, often at a huge level of interest. They prey on people who have very little money and who are struggling to access money elsewhere. They can cause a great deal of misery, and lead to huge debt, which is impossible to pay back.
Have you or anyone you know:
- been offered a cash loan without paperwork?
- been threatened when you couldn’t pay?
- had your benefit or bank card taken from you?
- had a loan which keeps growing even though you are making payments?
If so, then you may have been bitten by a loan shark. Illegal money lenders can seem like a good option when you need money quickly, but they can quickly become intimidating and threatening and your loan can spiral out of control.
If you are worried about a debt that you have, you are welcome to come and speak to me, Grace Thomas, for further support and advice
You can also report a loan shark in confidence, by calling 0300 555 222.
If you need financial help and free advice, these local organisations are here to help you:
Welfare rights : 0800 345 7375
Debt advice: 0800 345 7323
Citizens Advice Bureau: 0161 793 7840