Illegal Money Lending Team
Illegal money lenders, also known as loan sharks, lend money without a Consumer Credit Licence. Their loans often do not have any paperwork, receipts or cashbooks; they may use intimidation or violence and encourage you to borrow money that you cannot repay, you may be making regular payments but feel like the amount you owe is not decreasing.
The Illegal Money Lending Team is based at Birmingham City Council but are a national team of 60 officers dealing with Loan Sharks all over the country. Their main aim is to support people affected by Loan Sharks, protect them from further intimidation and prosecute the sharks.
They have a 24 hour confidential hotline and since 2004 have supported over 19,000 people to stop the pain and stress caused by these illegal money lenders.
If you have been affected by a Loan Shark or believe one to be operating in your area do not hesitate to contact them.
Who to contact
Where to go
Last updated 14/01/2022