LoginStop Loan Sharks Week Kicks Off
The national campaign to support people targeted by loan sharks starts today (19 May).
Journal of Trading Standards Staff
Posted 19 May 2025 | JoTS Online
Content Tags: Updates|Consumer Goods and Services|National
A national campaign to highlight the devastating impact of illegal money-lending on individuals and communities launches today (19 May).
Stop Loan Sharks Week 2025, an initiative of the England Illegal Money Lending Team (IMLT), has the message ‘We’re here whenever you’re ready’.
“Being in debt to an illegal lender is more than just a financial burden – it can be terrifying, isolating, and emotionally exhausting,” said Dave Benbow, head of the IMLT. “For many, it feels like being trapped in a nightmare with no way out.”
The IMLT offers confidential support and assistance to individuals who have fallen prey to loan sharks. Its investigators also look into illegal lenders’ activities and have powers to prosecute if needed.
We want to reassure people that any information shared is treated in the strictest confidence. There’s no pressure – we’re here to help, not to make things harder
“We want to reassure people that any information shared is treated in the strictest confidence,” said Benbow. “There’s no pressure – we’re here to help, not to make things harder.”
According to the IMLT, it can take an average of four years for someone who has been affected by an illegal money-lender to come forward. In 2024, almost half (49%) of those who did also reported mental health struggles – the highest rate on record. Around 93% of borrowers reported feelings of stress, anxiety, or depression and 40% said they had considered or attempted suicide.
There are 1.08 million people currently in debt to loan sharks in England, according to the Centre for Social Justice (CSJ).
The Stop Loan Sharks team, hosted by Birmingham City Council, operates a 24/7 helpline where trained staff offer immediate support and guidance. For those who don’t feel ready to speak on the phone, alternative contact options are available, including Live Chat and email.
One of the services backing Stop Loan Sharks Week is Staffordshire Trading Standards. Anthony Screen, Cabinet Member for Community Safety at Staffordshire County Council said: “With many families continuing to face extra financial pressures, it is vital we highlight the risks and dangers of turning to loan sharks.
Loansharking is a crime that affects many of our communities. Those lending are basically criminals. They may seem friendly at first but borrowing from them can have serious consequences. There are specialised organisations that can provide access to affordable loans, such as credit unions, and I would urge anyone struggling financially to consider getting in touch with them.”
Anyone who thinks they may have been targeted by an illegal lender can contact the Stop Loan Sharks team:
- Call: 0300 555 2222 (24/7 confidential helpline)
- Text: 07860 022116
- Email: [email protected]
- Visit www.stoploansharks.co.uk to access a reporting form and a Live Chat option, available 9am to 5pm, Monday to Friday.
PLEASE NOTE: This content originally appeared on our standalone Journal of Trading Standards website (www.journaloftradingstandards.co.uk), which we are gradually migrating over to the Journal's new home on the CTSI website. Please bear with us while we complete this process. This will not affect the production of our Print Edition.
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Content Tags: Updates|Consumer Goods and Services|National
