Advice about loan sharks and illegal money lending

How to report a loan shark and information about credit unions for residents of Suffolk.

Lending money without a licence is illegal.

Report a loan shark at www.gov.uk/report-loan-shark.

You can also:

Stop Loan Sharks
Lending money without a licence is illegal. If you have been approached by a loan shark you should report them, in confidence, to Stop Loan Sharks:
Tel: 030 0555 2222
Email: stoploansharks@birmingham.gov.uk

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, don't borrow money from them.

Checking if a lender has a licence

Search the Consumer Credit Public Register.

You can find which lenders has:

  • 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; 9.30am - 4pm, Monday to Friday.

If you have borrowed money from a loan shark

You:

Credit Unions

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