Loan sharks operate by offering illegal loans at extremely high rates of interest, which can prove impossible to repay.
They often use threats and violence against those who fall behind with their payments, forcing many victims into crime.
Loan sharks prey on people at their most vulnerable. Borrowing from a loan shark can seem like an easy option but often it will lead to a spiral of debt. Knowsley Council is working in partnership with the North West Illegal Money Lending Team to tackle loan sharks.
Visit their website here to find out more or report an illegal lender anonymously. The ‘hide page’ function at the top right of the site will replace the page with Google if needed.
The team provides support to victims and witnesses including access to legal support, affordable credit and debt advisors.
You can also call, text or email to report a loan shark anonymously and in confidence:
- Call the hotline number 0300 555 2222 (24 hrs a day)
- Text 07860 022116 to report a loan shark
- Email [email protected]
Text message advice
Use our text service for more advice:
'loan [space] sharks [space] your message' to 60003