Loan sharks are illegal lenders, who will offer to lend money to people who are not able to borrow money from places like banks and other financial organisations.
Look out for the warning signs of a loan shark, they:
won’t give you any paperwork or receipts
will give cash loans or bank transfers
won’t give clear information about the loan repayments
may take your possessions to secure the loan, for example bank card or passport
will increase the debt
may begin Intimidating you and making threats of violence to you and your family
A loan shark has no legal right to ask for the money back.
For help, support and to report a loan shark (this can be done anonymously) visit the GOV UK Report a loan shark
This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.
Strictly Necessary Cookies
Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings.
If you disable this cookie, we will not be able to save your preferences. This means that every time you visit this website you will need to enable or disable cookies again.
