Loan sharks
Loan sharks are criminals who lend money at extortionate rates of interest. They don't have the licence they need under the Consumer Credit Act, and they cause misery to their victims.
They prey on vulnerable people such as single parents, the elderly, or people on benefits – who can often suffer harassment, threats, and spiralling financial difficulties.
What can we do to help?
If you report a loan shark to us, and we can prove that they are acting illegally, we will act.
Our Trading Standards service has joined a national scheme to bring loan sharks to justice and give their victims the help and support they need.
We have already prosecuted loan sharks for assault, firearms and drugs offences, extortion and organised crime.
And we've written off thousands of pounds worth of debt.
We can help with money management by finding other ways to obtain credit, and other benefits the victim might be able to claim.
How to contact us
If you owe money to a loan shark or want to help someone else who is in trouble with one, please tell us. All calls and messages will be dealt with confidentially.
- Call: the Loan Shark Hotline 0300 555 2222
Lines are open 24 hours a day, 365 days a year. Local call rate including inclusive minutes from mobiles.
- Text: loan(space)shark(space) and your message, to 60003
- Email: stoploansharks@eastsussex.gov.uk
