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Don't get bitten by loan sharks

17 February 2016

Loan sharks are moneylenders who charge extremely high rates of interest, typically under illegal conditions. They often target low income and desperate families, with some loan sharks charging interest rates as high as 719,000%.

You could be the victim of a loan shark if you or anyone you know has:

  • been offered a cash loan without paperwork
  • been threatened when you couldn't pay
  • had your benefit or bank card taken from you
  • had a loan which keeps growing even though you are making payments

If you think you've been the victim of a loan shark, and would like some confidential help and advice, you can contact the Illegal Money Lending Team by either:

Calling them on 0300 555 2222

Sending them an email at reportaloanshark@stoploansharks.gov.uk

If you'd like to find out more about loan sharks, and the steps you can take to avoid them, the Money Advice Service have lots of information about how best to protect yourself on their website.

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Red Kite Community Housing, Windsor Court, Kingsmead Business Park, High Wycombe, HP11 1JU

Red Kite Community Housing is the trading name of Red Kite Community Housing Limited, a charitable registered society which operates for the benefit of the community under the Cooperative and Community Benefit Societies Act 2014, registered in England with the Financial Conduct Authority (registration number 31322R) and the Regulator of Social Housing (registration number 4682). VAT number 290 7410 06.