AdviceMoney & debt advice

Dealing with loan sharks

By January 25, 2017 No Comments

Not all credit options are good or safe.

If you have a poor credit rating then you may be tempted to use a doorstep lender or a payday loan company, especially if you have few credit options. However, these are expensive and should be avoided.

How to report a loan shark in complete confidence

The England Illegal Money Lending Team (IMLT) have a 100% safe online reporting form that you can use to report illegal money lenders to. Their team are also available 24/7 on 0300 555 2222 for anonymous information taken in the strictest of confidence. Alternatively you can email reportaloanshark@stoploansharks.gov.uk.

The advisers can give you advice about your situation. The information you provide helps them to take action to stop illegal money lending.

What happens after you report a loan shark?

After you’ve completed the form, a member of the Illegal Money Lending Team will contact you at a time to suit you. They will also explain what happens next and help you get the financial, housing or debt support that you might need. Anything you share with them will be treated confidentially.

We can help you!

It is really important to talk to us quickly if you experience any difficulties paying your rent. We have our Money Support Team available to offer impartial and confidential advice to our tenants. If you would like to speak to them, please contact us and ask to be referred.