Crack down on loan sharks

Published: 23 April 2010

Sometimes it can be difficult to meet all our expenses, especially during these difficult economic times.

You may be tempted to borrow money from illegal lenders (often known as 'loan sharks').

We do not advise using loan sharks, which can often tie you to very high interest rates, making the original loan virtually unpayable. They may even resort to threatening behaviour to get their money back.

Gateway supports the Trading Standards campaign to stop loan sharks from taking advantage of people.

You can report loan sharks anonymously on 020 7364 6889 or by emailing sharkbait@lotsa.org.uk.

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