Stop Loan Sharks has been around for 20 years, fighting illegal money lending and supporting borrowers. Every year they organise a campaign week to highlight the work they've been doing with their many partners.
This year’s theme is to highlight that there is ‘No Blame, No Shame’ for anyone who has borrowed from a loan shark. Research shows that many borrowers don’t try to find help until 2 years after they first take out a loan from an illegal lender.
Stop Loan Shark Week runs from 13th - 19th May 2024 to get the message out that no blame or shame lies with the borrower. Loan sharks trap and manipulate their borrowers, making them think it's their fault they're in that situation. The illegal lender is at fault.
In 2023, Stop Loan Sharks supported almost 800 people who had borrowed from loan sharks, helping them escape the clutches of their lender. Over the past two decades they have supported 31,500 people, written off over £91.2 million worth of illegal debt and secured over 416 prosecutions for illegal money lending, leading to 598 years in jail for the perpetrators.
Support is available from the Stop Loan Sharks team - more information can be found on their website www.stoploanshark.co.uk or by calling 0300 555 2222.
CLEVR Money provides a safe and affordable form of lending:
- it's not-for-profit
- member-owned
- provides savings and loans
The CLEVR Money website provides information and advice - https://www.clevr.money/ and you can contact the team by emailing hello@clevr.money or members can message through the app.
Article published 13th May 2024.