STOP THE LOAN SHARKS!

Citizens Advice Doncaster Borough continues its campaign to raise awareness of the issue of illegal lending.

By James Woods — Operations Manager

The Covid-19 outbreak has had a significant impact on peoples finances and Citizens Advice Doncaster Borough is concerned this will impact the numbers of people using illegal lending.

Illegal Money Lenders, more commonly known as Loan Sharks, lend money without having the correct permissions from the Financial Conduct Authority. They often give cash loans out without any paperwork and want double the amount back or charge extortionate interest rates. When you struggle to make repayments they may use violence, threats and intimidation, to ensure you keep paying them.

The impact of illegal money lending is immense, with 32% of victims asked said that they had considered committing suicide and 25% of those with suicidal thoughts said it was due to their involvement with a loan shark.

James Woods, Operations Manager at Citizens Advice Doncaster Borough said: “These lenders are nothing more than criminals taking hard-earned cash from the pockets of the most vulnerable. It is thought over 300,000 people are in debt to illegal money lenders in Britain and they need to know that we’re on their side. In Doncaster we are leading the fight in stopping loan sharks and providing advice and support to their victims”.

We are increasingly concerned Loan sharks are using social media platforms, such as Facebook, Instagram and Snapchat, to advertise their illegal loans and target potential victims, these lenders are becoming increasingly common in community groups and on local selling pages.

If you can answer yes to one or more of these questions you might be borrowing from a loan shark:

• Did they offer you a cash loan?
• Did they not give you paperwork?
• Did they add huge amounts of interest or APR to your loan?
• Have they threatened you?
• Are you scared of people finding out?
• Have they taken your bank card, benefit card, passport, watch or other valuables from you?

Our team of specialist debt advisers can help with any debt issue including illegal lending and can be contacted on (01302) 499330 or if you suspect someone may be a loan shark or they are acting inappropriately, you can report them anonymously by calling

Stop Loan Sharks Helpline on 0300 555 2222.

Alternatively, you can email the team on reportaloanshark@stoploansharks.gov.uk or access support via live chat Monday to Friday between 9am-5pm.

Citizens Advice Doncaster Borough will continue to work with those effected and raise awareness of this issue via our social media pages.

Twitter: @CADoncasterBoro

Instagram: cadoncasterboro

Facebook: Citizens Advice Doncaster Borough