Stop Loan Sharks

Loan Sharks are individuals who do not have a Government License to lend money and use violence and intimidation to collect the debt they are owed. We are working in partnership with the Government’s Illegal Money Lenders Team to raise awareness of Loan Sharks and the pitfalls of using such lenders.

If you have used a Loan Shark then you have not broken the Law; it is just the Loan Shark that has broken the Law. Your debt is therefore unlawful and you don’t have to pay it back. Yes, you have read this correctly, you do not have to pay it back!!

The Illegal Money Lenders Team can help you, or your friend, if you are trapped in a cycle of debt with a Loan Shark, you don’t have to give a statement or go to Court, just give them a ring on 0300 555 2222 and put an end to your worries. They won’t do anything you are not happy with, they just want to help you get out of the jaws of the Loan Shark.

We support this work by organising Weeks of Action in neighborhoods to raise awareness of the problem and educate people on what to do if they need help and support; we don’t tackle the Loan Sharks, that’s a job for the police! But everyone can help to reduce this problem just by reporting Loan Sharks in confidence. We don’t want your name or address, just the important information you have. Once we have your information we will take care of everything else. Report your information in confidence on 0300 555 2222.

 


 

Weeks of Action!

We have run many Weeks of Action across Greater Manchester to educate people and raise awareness of the issue. These weeks usually involve leaflet drops, engaging primary schools and parents, visiting community centres and youth club, even holding sessions in sheltered schemes.

We also ensure that local front line staff are up to date with the issue and know what to do if they suspect that someone is in the jaws of a loan shark. We have trained Police Officers, Job Centre Staff, Housing Officers and even key local residents, so that together we have a better chance of stopping loan sharks forever!

We run budgeting and life skills projects for young people so they can learn now about money and hopefully will never need the services of a Loan Shark.

Through these weeks of action we were recognised by the Government and won the Stop Loan Sharks 2014 Award.