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Gloucestershire Business News

Loan shark warning during pandemic

During Scams Awareness Month, everyone needs to be on the lookout for victims of loan sharks, who can have a detrimental impact on their victims financially, physically and emotionally.

Continued economic uncertainty during the coronavirus pandemic, with many people facing redundancy, means loan sharks may look to take advantage of people in a vulnerable position who feel they have nowhere to turn for help.

Stop Loan Sharks is committed to helping victims of illegal money lending and providing support that is immediate, practical and tailored to their needs during the Covid-19 crisis. Anyone working with vulnerable people who is concerned that a client, resident or service user may be a victim of loan sharks can make a referral to Stop Loan Sharks' services 24 hours a day on 0300 555 2222.

Stop Loans Sharks has launched a number of new services to help it stay in touch during the pandemic:

  • An online chat service on Tuesdays at www.stoploansharks.co.uk 
  • A new awareness-raising podcast series, including campaigns such as Cheltenham Says No and an interview with a loan shark victim
  • Online training for partner agencies, including health, care and housing staff
  • A new animation to help people spot the signs of illegal money lending

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