Loan Sharks

What you need to know

• A loan shark is someone who lends money but charges very high interest rates.
  • High interest rates means you have to pay back more than you borrowed.
• They are not legal lenders and do not follow the law.
• Loan sharks often target people who can’t borrow money from banks or other safe places.

Why are they dangerous?

• They make you pay back much more money than you borrowed.
• If you can’t pay on time, they might threaten or hurt you.
• They don’t use written agreements, so it’s hard to prove what you owe.

Signs of a loan shark

• They make you pay back much more money than you borrowed.
• If you can’t pay on time, they might threaten or hurt you.
• They don’t use written agreements, so it’s hard to prove what you owe.

If you answer "yes" to any of these questions, you might be dealing with a loan shark:

• Did they offer you a cash loan?
• Did you not receive any paperwork?
• Did they charge a very high interest rate?
• Have they threatened you?
• Are you worried about others finding out you borrowed money?
• Have they taken valuable items or documents from you?

Stop Loan Sharks

• Service:
  • They investigate and take action against loan sharks.
  • Your information will be kept private.
  • They are not the Police: Always call 999 if you are in immediate danger.
• Phone: 0300 555 2222
  • Open 24/7
• Website and Live Chat: Stop Loan Sharks Live chat open:
  • Monday to Friday
  • 9.00am to 5.00pm