What is a loan shark?

Loan sharks’ are people who lend money without permission. This is against the law.

The loan shark may be someone you know, like a friend of a friend or someone you meet at the pub. They are often very friendly, but that can change very quickly. They could pressure you to repay, which could be scary and make you feel worried and sad.

Unlike with a bank, there will be no proof that you have paid them anything so you could end up paying back much more than you borrowed. You could lose all your money and be unable to pay your rent or other bills.

Don’t get caught in the loan shark trap – Check before you borrow.

Watch our video

We have teamed up with Merseysign Theatre Group to release a powerful new film in BSL, aimed at tackling the issue of loan sharks and driving out the crime from the Deaf community.

How to get help with loan sharks

For advice and support about loan sharks you can check out the Stop Loan Sharks website or their facebook page.

You can also come and speak to a MSDP Duty Officer in Liverpool, Sefton or the Wirral. Find out more and book an appointment here.

Find out more

The England Illegal Money Lending Team (IMLT) have released a new British Sign Language (BSL) video to support the Deaf community in recognising and reporting illegal money lenders. You can find more BSL videos from the IMLT here.

We are pleased to have been awarded Partner status as part of the Stop Loan Sharks Recognition Programme for 2022 to 2024.