Illegal money
lending
Illegal money lending is a crime.
Newham Trading Standards want to crack down on loan sharks. If you
are experiencing problems with a loan shark, there is help out
there!
Loan sharks are...
illegal moneylenders. They lend when nobody else will, but with
very high interest rates. Borrowers may find it difficult to keep
up the repayments.
- You might be forced to get a second loan to pay up;
- Lenders may turn very nasty if you fall behind with your
payments.
- They prey on vulnerable people like the lone parents or
unemployed.
- They may force you to hand over Social Security Benefit Claim
Books as security against loans.
If you know of a loan shark in your area or a victim of
one...
Tell us to stop them and protect other people.
If you have information on illegal lenders please contact Newham
Trading Standards on 020 8430 3869 - your information will be
treated in confidence.
You can also
- Call 020 7364 6886 (you don't need to give
your name)
- Email
sharkbait@lotsa.org.uk
- Text Shark Bait (with your message) to 60003
Or contact: Consumer
Direct - 08454 04 05
06
Your information could help us to stop someone else being
conned.