A week of action to highlight the dangers of loan sharks is happening from Monday 23 June.
The council is working with the England Illegal Money Lending Team on the Stop Loan Sharks awareness campaign to highlight the dangers of illegal lenders and to inform people how to get support.
Activities are planned throughout the week, where residents can come along, talk to the team, be signposted to support and meet the Stop Loan Sharks mascot, Sid the shark.
- Monday, 10am-12noon - Parlaunt Road Shops, Langley
- Monday, 1-3pm - come and visit us and other money and safety advice partners at Langley Library, Trelawney Avenue, SL3 7UF
- Monday, 4.30-5.30pm - Langley Pavilion, Langley Road, SL3 8BS
- Tuesday, Wednesday and Thursday – leaflets will be shared in the community
- Friday – there will be online training, from the Illegal Money Lending team, for council staff, charities, community groups and leaders, including in the debt advice, community safety, housing and regulatory service teams across Slough. To book onto this training, please email Lin.fisher@birmingham.gov.uk
The action week in Langley, is part of the Safer Langley initiative.
Councillor Ejaz Ahmed, lead member for Communities, Sport, Leisure and Public Protection, said: “Loan sharks thrive on targeting vulnerable people. What starts as a small amount of borrowing can have huge interest added, and the whole thing spirals into a much larger debt that never seems to decrease.
“There are many legal ways to borrow money, so if you’re worried you’re involved with a loan shark, or want to get support, please come along to a public session, or contact the illegal money lending team online or by telephone.”
If you’re not sure your lender is a loan shark, there are a few red flags to look out for.
- They may not give you any paperwork or agreement about the loan.
- They may keep items until the debt is paid such as your bank card or passport.
- They are likely to add interest or charges so the amount you owe never seems to decrease.
- They may use intimidation or violence if you don't pay.
Dave Benbow, head of the England Illegal Money Lending Team, said: “Illegal lenders are often well known in their communities, and they can pretend to be a friend offering a favour when someone needs to borrow money. But when it comes to repayments, they often add huge charges and can resort to threats and violence to force people to prioritise this debt over other payments.
“People often end up having to borrow again to make ends meet and can become trapped in a cycle of debt, constantly making repayments while the amount they owe never goes down.
“However, there is a way out – the IMLT was set up over 20 years ago to tackle this criminality and support borrowers. We have helped tens of thousands of people across England to escape the clutches of an illegal lender and prosecuted hundreds of offenders.
“If anyone needs help or advice, or has information about illegal lending in the area, I urge them to go along and speak to a member of the team during this week of action. Or people can call us anytime in complete confidence if they prefer. We realise it can be a difficult step, but we want to reassure people that we are here to help.”
According to the latest Stop Loan Sharks figures, it can take an average of four years for someone to come forward. In 2024, nearly half (49%) of those who did also reported mental health struggles, around 93% of borrowers reported feelings of stress, anxiety, or depression and 40% said they had considered or attempted suicide.
Anyone who thinks they may have been targeted by an illegal lender is urged to contact the Stop Loan Sharks team as soon as possible, for confidential and compassionate support.
Call the team on 0300 555 2222 (24/7), text 07860 022116, email reportaloanshark@stoploansharks.gov.uk or visit the Stop Loan Sharks website where there is a reporting form and a Live Chat option, available 9am to 5pm, Monday to Friday.