Lending money without a licence is illegal.
You can also:
- call 030 0555 2222
- email firstname.lastname@example.org
- text LOAN SHARK and the lender’s details to 60003
The best advice for dealing with loan sharks is 'don't'
They're unlicensed money lenders who charge very high interest rates, sometimes using intimidation, harassment, threats and violence to frighten people who can't pay back their loan.
They often pressurise people into borrowing more from them to repay one debt with another.
If a lender doesn't have a licence, do not borrow money from them.
Check if a lender has a licence
Search the Consumer Credit Public Register.
You can find which lenders have:
- a licence
- applied for one
- had one taken away or suspended
It's free to get basic information from the register, including trading names and the activities for which a business is licensed.
You can also call 0207 211 8608, open Monday to Friday, 9.30am to 4pm.
If you have borrowed money from a loan shark
You do not have to pay the money back because the loan shark has broken the law, not you.
You should report the loan shark or contact us:
- call 01473 264859, open 9am to 5pm
- email email@example.com
Suffolk County Council works with the Suffolk Credit Unions, savings and loans co-operatives which aim to help people in their local area.
Eastern Savings and Loans Credit Union (formerly called Ipswich and Suffolk Credit Union Ltd)
Address: 63 Austin Street, Ipswich, IP2 8DF
Telephone: 03336 000690
Rainbow Saver Anglia Credit Union Ltd
Address: Administration Centre, 229 London Road South, Lowestoft, Suffolk, NR33 0DS
Telephone: 01502 584854