Watch out for loan sharks
If someone offers to lend you money without any paperwork, contracts, or clear information about interest and repayment, they’re acting illegally. These people are called loan sharks.
Loan sharks often target people who are in difficult situations and have nowhere else to turn for help. They may use threats, intimidation or even violence to make people pay money back.
If you know or suspect loan shark activity, report it anonymously to the Illegal Money Lending Team on 0300 555 2222.
Free, confidential debt advice
Our specialist Debt Advisor offers free, confidential support, whether you need one-off advice or full support to sort things out. Contact our specialist Debt Advisor on
We can help you deal with debts such as:
- Rent arrears
- Council Tax
- Utility bills, such as gas and electricity
- Water rates
- Bank loans and overdrafts
- Credit cards
- Catalogues
- Court fines
- Hire purchase
- Doorstep and payday lenders
We can speak to your creditors on your behalf, explain your rights, and help negotiate fair payment plans. We’re experienced, we understand the law and your options, and creditors listen to us.
We can also give you:
Useful information on other organisations that can help
Template letters you can use to contact creditors.
