Sleigh No To Loan Sharks

Posted 08.12.2022

Stakeholder Managers support the work of Vinnie Jarman and the Loan Shark team to raise awareness of illegal practices that prey on those struggling the most.

The England Illegal Money Lending Team (IMLT) is concerned that ruthless loan sharks will try to cash in on the festive period as many families struggle to cope with rising food, fuel and energy bills this winter.

Christmas is a time for joy and happiness, but for the millions of families struggling with spiralling debt to loan sharks it can be the most terrifying time of the year.  Figures show that nearly one in ten people who borrowed from loan sharks last year did so to cover the costs of Christmas.

Loan sharks create an environment of fear, intimidation and control for their victims and they will use almost any means to tempt people into taking out a loan with them. They know how to spot people who are vulnerable and who need money. This creates a vicious cycle of debt for those unable to pay back their loans and often leads to serious financial issues, such as families losing their homes or being pushed into extreme poverty because they do not have enough money to survive.

The only way to put an end to illegal money lending is with your help. Your support means the IMLT can reach more people who are at risk, put loan sharks out of business and help victims rebuild their lives. It’s especially important to spread awareness of loan sharks tactics during the festive season when their activity increases dramatically.

Please support the latest campaign #SleighNoToLoanSharks and help spread the message about the risks of illegal lending and how people can access support. You can adapt campaign messages for local audiences from social media resources which can be downloaded from the Stop Loan Sharks website.

Loan sharks present a significant threat to the safety, security and well-being of many individuals in the community. They use deceptive tactics that can isolate people from friends, family and support services. Training is available for organisations to learn about their tactics and techniques, so you’ll know how to spot and stop them.

Contact Stakeholder Managers for more information and we’ll connect you to training and support.

BBO is having a significant impact on individual lives, supporting people to increase their confidence, independence and achieve their employment aspirations.

See what our participants have to say in these case studies …

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