If someone’s lending money without a licence, they’re not just unfair, they’re breaking the law.
Loan sharks are illegal lenders who often target people when they feel most vulnerable, when money’s tight and other options feel out of reach.
They might seem friendly at first or could even be someone you thought was a friend. They might even look like someone in the community. But once they’ve got you in their grip, it’s a different story.
At Northern Community Bank, we’re here to make sure you don’t have to turn to risky lenders, no matter what life throws at you. And we’ll always treat you with dignity, respect and understanding.
Spot the Signs of a Loan Shark
A loan shark is anyone who lends money without authorisation from the Financial Conduct Authority (FCA).
Here’s what to look out for:
- No paperwork or proper agreement
- Cash loans with no clear repayment terms
- Interest rates that change without warning
- Repayment amounts changing weekly
- Threats, pressure or violence if you fall behind
- Keeping your bank card, passport or benefit card as “security”
- Telling you not to speak to anyone else
If this sounds familiar – you’re not in trouble, but they are. Lending money like this is illegal.
What Can You Do?
If you’re worried you’ve borrowed from a loan shark or know someone who has, there is help available. You won’t get into trouble for speaking out.
Contact Stop Loan Sharks
The England Illegal Money Lending Team is there to investigate and support victims confidentially.
You can call 0300 555 2222, visit www.stoploansharks.co.uk, or text LOAN SHARK + your message to 60003.
Available 24/7. You can remain anonymous.
You Deserve Safer, Fairer Options
Loan sharks take advantage of people. They trap them in debt, use fear to control them, and leave families struggling.
At Northern Community Bank, we’re here to offer a safe and affordable alternative, with honest, clear lending that works for your budget.
- No hidden fees
- Fixed repayments
- A trusted, local lender with your best interests at heart
- Help if things ever feel difficult
We’re On Your Side
You’re not alone and you don’t have to deal with this by yourself. Whether you need a more affordable way to borrow, or just someone to talk to, we’re here.
You can always talk money with us.
