Loan sharks

Southwark now benefits from the services of the illegal money lending team, a national service operating out of Birmingham City Council and funded by government. The team was created to combat the activities of loan sharks.

What is a loan shark?

A loan shark is someone who lends money without the appropriate licence issued by the Office of Fair Trading.

Loan sharks rarely, if ever, give any paperwork and if payments are missed they often use intimidation and violence to get money from their 'clients'.

The illegal money lending team is here to help. If you have any information, however small, on loan shark activities we can help:

• Have you been offered a cash loan?
• Have you been threatened when you couldn't pay?
• Has your bank card been taken from you as a security?
• Does what you owe keep growing even though you are making payments?

If you can answer yes to any of the above then you may have been bitten by a loan shark.

If you, or anyone you know, is experiencing any of the above or has any knowledge of loan shark activities then contact the team in confidence anytime, any day.

Telephone: 0300 555 2222
Email: reportaloanshark@stoploansharks.gov.uk

Or text to: loan(space)shark(space) + your message to 60003

For more information on loan sharks, other ways to borrow and help with debt visit the Directgov website.

Why not join a credit union?

Did you know Southwark has its own Credit Union?  This can provide a secure current or savings account, loans and insurance. For details call 020 7787 0770 or visit http://www.creditunion.co.uk/.