Loan sharks are illegal moneylenders who offer money without the appropriate licence issued by the Office of Fair Trading and often charge very high interest rates. Loan sharks rarely, if ever, give any paperwork and if payments are missed they often use intimidation and violence.
- Have you been offered a cash loan?
- Have you been threatened when you couldn’t pay?
- Has your bank card been taken from you as a security?
- Does what you owe keep growing even though you are making payments?
If you can answer ‘yes’ to any of the above then you may have been dealing with a loan shark. If you, or anyone you know, is experiencing any of the above or has any knowledge of loan shark activities, you can report them anonymously using the contact details below. Don’t forget you can always talk to someone at your local CAB in complete confidence if you are worried.
Report a loan shark
Check to see if a lender is licensed
You can check to see what companies have a licence.
Consumer Credit Register
Phone: 020 7211 8608020 7211 8608
Monday to Friday 9:30am to 4pm