Posted on Friday 16th May 2025
People in Staffordshire are being reminded of the dangers and risks of turning to illegal money lenders.
Staffordshire County Council’s trading standards service is backing the Illegal Money Lending team’s summer campaign to tackle the problem of illegal lending.
The Stop Loan Sharks Week campaign takes place from Monday 19th of May to Sunday 25th of May 2025 and is reminding people that support is available.
Loan sharks often target vulnerable people looking for short term credit and trapping them into a cycle of debt, with incredibly high interest rates and threats of violence.
Anthony Screen, Cabinet Member for Community Safety at Staffordshire County Council said:
With many families continuing to face extra financial pressures, it is vital we highlight the risks and dangers of turning to loan sharks.
Loansharking is a crime that affects many of our communities. Those lending are basically criminals. They may seem friendly at first but borrowing from them can have serious consequences. There are specialised organisations that can provide access to affordable loans, such as credit unions, and I would urge anyone struggling financially to consider getting in touch with them.”
Anyone worried about a friend or family member, who is being taken advantage of by a loan shark, should visit Stop Loan Sharks website or contact the Illegal Money Lending team confidential helpline on 0300 5552222.