Loan Sharks

It is not illegal to borrow from a loan shark, although it can be very expensive. However, unless the lender is authorised under the Consumer Credit Act or regulated by the Financial Services Authority, it may be a crime by the lender.

The government has established a task force to help people who have borrowed from a loan shark, and to prosecute the loan shark where possible. Their telephone line is staffed 24 hours a day, 7 days a week.

Tel :- 0300 555 2222

Details are available on the internet at stoploansharks@birmingham.gov.uk

Text “LOAN” (space) “SHARK” (space) + your message to 60003