Thursday 01st March 2018

What is a Loan Shark ?

If you can answer yes to one or more of the following questions then you may be borrowing from a loan shark:

  • Did they offer you a cash loan?
  • Did they not give you paperwork?
  • Did they add huge amounts of interest or APR to your loan?
  • Have they threatened you?
  • Are you scared of people finding out?
  • Have they taken your bank card, benefit card, passport, watch or other valuables from you?
It is estimated that there are 310,000 people in debt to illegal money lenders in the UK. The Illegal Money Lending Team works to raise awareness of what illegal money is while investigating and prosecuting loan sharks.
Take a look at their website at or call them on 0300 555 2222 to safely report a Loan Shark.