A loan shark is a person who offers loans at extremely high or illegal interest rates, has strict terms of collection, and generally operates outside the law, often using the threat of violence or other illegal, aggressive, and extortionate actions when seeking to …

Today the government announced a crackdown on loan sharks – illegal money lenders who often subject borrowers to threats, violence and intimidation, and prey on people in difficult circumstances. In our research we’ve heard from a number of victims of loan sharks, who told us what led them to borrow in this way, and the impact that it had ...

Nov 3, 2023 · When single mum-of-two Sarah began struggling to make ends meet she borrowed money from a family friend. She said she trusted him "completely" but he turned out to be a loan shark. Sarah, not...

Feb 1, 2024 · People who use loans sharks have been "driven to the brink of suicide", investigators have said. The Illegal Money Lending Team (IMLT) said fear, intimidation and control were being used by...

May 4, 2024 · It may be hard to imagine how an 83-year-old woman could instil such fear into victims of her money lending scheme that they paid her tens of thousand of pounds of interest on top of illegal...

Jan 17, 2018 · When he lost his job and money worries made him contemplate suicide, a local man thought a loan shark might be a way out. Instead, it was the start of a four-year nightmare which left him...

Nov 15, 2011 · The loan shark had around 900 ‘customers’ who he was harassing for payments he believed to be due. He was given a lengthy custodial sentence and stripped of £270,000, money he had made illegally.

Real-life loan shark stories remind us of the risks associated with seeking quick loans from unscrupulous lenders. By learning from the experiences of others, we can make informed decisions, safeguard our financial well-being, and avoid falling victim to …

Mar 6, 2025 · More on this story. Scotland Tonight. Loan sharks causing widespread suffering across Scotland; Posted in. Crime; A Scottish woman says she has been the target of a four-year-long campaign of intimidation by an illegal loan shark. “Linda” – not her real name, as we are protecting her identity – thought she had borrowed money from a ...

Mar 18, 2025 · What is a loan shark? A loan shark is a person who lends money to another person at incredibly high interest rates and often with illegal terms. As the name would suggest, loan sharks prey on...