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Illegal Money Lending Team (IMLT)

Lending money without a licence is illegal. A loan shark is anyone who is lending money without having a licence from the Office of Fair Trading.

They rarely give any paperwork to the people they've loaned money to - making it very difficult to keep track of how much is owed. If payments are missed, they often use threats and violence to get more money. They charge extremely high rates of interest and also add other charges to loans whenever they want. They take away people's bank cards as security. Their intimidation and violence causes misery to their victims and the larger community.

If you have borrowed money from someone who doesn't have a licence, you haven't broken the law - they have. The Illegal Money Lending team are here to help you. They will target and prosecute loan sharks. The Illegal Money Lending Team has Financial Inclusion officers who provide support and help to the victims of loan sharks.

You can contact the Illegal Money Lending team today in complete confidence by calling their 24 hour hotline on 0300 555 2222.

For more information about the Illegal Money Lending Team, Loan Sharks and other ways to get help - select the following link:

Stop a Loan Shark

Remember, you don't need to turn to a loan shark for money. If you've got debt problems there are a number of different ways that for you to get advice and help both by telephone and face to face.

Updated Tuesday 13 Dec 2011




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