Being in debt to a loan shark is more than just a financial burden - it can be a terrifying, isolating, and emotionally draining experience. For many, it feels like being trapped in a nightmare with no way out.
Vulnerable borrowers, who may already be struggling, can find themselves spiralling deeper - borrowing more to stay afloat and sinking further under the control of the loan shark exploiting them.
One borrower summed this up in heartbreaking terms, when asked by a support worker where he saw himself on the path to recovery. The support worker said: “I once put to him ‘if you are in a hole and I’ve got a ladder and you had to climb out, where would you see yourself on that ladder?’ His comment was ‘I can’t even see the ladder’.”
This level of hopelessness is not uncommon among borrowers who have been targeted by loan sharks. Illegal lenders thrive on fear and silence.
They don’t just lend money - they trap people in a cycle of intimidation and psychological control, leaving victims too afraid or ashamed to ask for help.
But help is out there.
When someone first hears about Stop Loan Sharks - whether through a poster, a conversation with a support worker, or word of mouth - it can feel like a glimmer of light.
And yet, taking that first step toward getting support can still feel overwhelming. Borrowers may fear the consequences or blame themselves for getting into this situation. They may worry they won’t be believed, or that things will only get worse if they speak up.
The Stop Loan Sharks team members understand this, and they want to make sure people realise they are not alone and there is a way out.
Why reaching out matters
The latest figures from Stop Loan Sharks show that it can take someone up to four years to seek help.
In 2024, nearly half (49%) of people who reached out also reported mental health struggles - the highest level recorded to date. That indicates the emotional damage caused by illegal money lending.
Taking that first step might be scary, but it can also be the turning point. It’s the start of a journey back to freedom - financially, emotionally, and mentally – and the sooner that step is taken, the better.
What happens when you contact Stop Loan Sharks?
Stop Loan Sharks officers are a team of professionals, trained to offer confidential, compassionate support tailored to the differing needs of borrowers. They also have the powers to investigate and ultimately prosecute loan sharks.
When someone calls the 24/7 helpline (0300 555 2222), a real person will answer the phone. You won’t find a call centre or a recorded message, just someone ready to listen and help in any way they can.
If you or someone you know is affected by illegal money lending, please don’t wait. Contact Stop Loan Sharks today.
- Call the 24/7 free confidential helpline 0300 555 2222
- Text or WhatsApp on 07860 022116
- Email reportaloanshark@stoploansharks.gov.uk
- Visit www.stoploansharks.co.uk, where you will find a reporting form and a Live Chat option, available 9am to 5pm, Monday to Friday.
There’s never any pressure or judgement. Just support delivered at your pace.
If you are concerned about paying your rent, contact Rooftop's Income Team. They will talk through your situation with you and assess how we can best help. Tel: 01386 420 800.
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