A range of new measures have been announced to help people affected by loan sharks. A new, confidential, national hotline replaces regional telephone numbers and provides a single point of contact.
Where to get information
An estimated 165,000 households in the UK use an illegal money lender each year
If you need to get information about reporting a loan shark or managing your money you can:
- Call the national hotline on 0300 555 2222
- text ‘loan (space) shark (space) and your message’ to 60003
- visit the new Stop Loan Sharks website using the link below
Stop Loan Sharks
The first Stop Loan Sharks pilot schemes were launched in September 2004 and then rolled out to every region of England, Wales and Scotland in 2007.
Since then, more than 60 people have been prosecuted with a further 90 prosecutions underway.
Consumer Affairs Minister, Gareth Thomas, said: “Loan sharks fleece hard-earned cash from their victims causing great distress and anguish.
“Calling this hotline gives victims the chance to talk in confidence. They get advice and support and the information provided helps the team to take action to stop illegal money lending.
“The teams are having huge success in bringing these criminals to justice and are saving consumers significant amounts of money.”