Loan sharks will often start out being friendly – their behaviour only changes when repayments are missed. They offer little or no paperwork, increase the debt or add additional amounts, refuse to give the borrower vital information, such as the interest rate or how much they still owe, take items as security – for example, passports, bank cards or driving licence,s and often resort to intimidation, threats or violence.
You can report a loan shark in confidence to an Illegal Money Lending Team.
Source: Direct.Gov
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Further help
For help contact:
- Report a loan shark in England: If you need to report a loan shark in confidence, phone 0300 555 2222, text LOAN SHARK and your details to 60003, or
email the Stop Loan Sharks team
Message supplied by: Rich @ Respect Yourself
