Our Housing Operations Team recently attended awareness sessions on Loan Sharks with the England Illegal Money Lending Team. We know that many are struggling financially right now, and it's very important to be aware that such money lending is on the rise.
Illegal Money Lenders are also known as Loan Sharks – they can appear friendly at first but become threatening and violent if you can't pay them back. They are not regulated. The Illegal Money Lending Team investigates this activity and any related offences. They help to get the money lenders prosecuted and imprisoned.
If you need financial help, it's best to get support from Citizens Advice or contact your local Council's Welfare Rights team to see if you can apply for any grants or funding. You can also contact your CRM for advice about this. Please visit www.stoploansharks.co.uk for further information.
