The festive season is meant to feel magical, but when money is tight, it can quickly become overwhelming. Between gifts, food, celebrations and rising day-to-day costs, many people start looking for quick financial fixes. Sadly, this is when loan sharks often strike.
What does a loan shark look like?
Loan sharks are illegal lenders who operate without regulation, paperwork, or fairness. They often appear friendly and approachable at first — sometimes they’re even someone you know. But once you borrow, the situation can spiral fast, with sky-high repayments, threats, and intimidation.
Common warning signs include:
- No paperwork or proper loan agreement
- Repaying far more than you borrowed
- Pressure, threats, or intimidation
- Being asked to hand over valuables, bank cards, or your passport
If any of these feel familiar, you may be dealing with a loan shark.
You are not alone
Right now, an estimated 1.08 million people in England are in debt to a loan shark. If you are worried about yourself or someone else, support is ready and confidential.
Stop Loan Sharks (England Illegal Money Lending Team)
They provide free, confidential help and safely investigate illegal lenders.
You can contact them anytime:
Call: 24/7 Hotline: 0300 555 2222
WhatsApp: 07700 102773
Live Chat: stoploansharks.co.uk (Mon–Fri, 9am–5pm)
Email: reportaloanshark@stoploansharks.gov.uk
Website: stoploansharks.co.uk
They have also released a new victim support video:
Your mental wellbeing matters
For some people, debt stress can feel crushing. In the worst moments, loan sharks may push individuals to the point where they feel there’s no way out. If you ever reach a moment like this, or if the STS video brings up difficult feelings, please reach out.
Samaritans offer free, confidential emotional support 24/7:
Call: 116 123
With Men’s Mental Health Month taking place, it’s an important reminder to check in with yourself and with others.
Thamesbank is here to support you
If you are struggling financially, you don’t have to turn to unsafe or illegal lenders. Thamesbank Credit Union offers affordable loans, fair repayment plans, and secure savings options, designed to help you stay in control especially over Christmas.
Whether you want to borrow safely or start building a cushion for the new year, we’re here to help.
Call: 0208 756 3865
Email: admin@thamesbank.org
Let’s work together to keep this Christmas safe, supportive, and loan shark free.
#StopLoanSharks #Thamesbank #MensMentalHealth #SleighNoToLoanSharks