We're pleased to be working with Stop Loan Sharks to raise awareness of loan sharks and the help and support available to victims.
How to spot a loan shark
If you can answer yes to one or more of these questions you might 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?
Bitten by a loan shark?
If you are worried that you, or someone you know, may have borrowed from a loan shark, get in contact. You can safely and confidentially report a loan shark via the Stop Loan Sharks website. After you report, their investigators take the information you give them and start to gather a case against the illegal lender.
What's the alternative?
If you need a loan, Credit Unions are a much safter alternative than borrowing from a loan shark. Find a Credit Union by clicking here.