Loan sharks


Loan sharks are money lenders who operate outside the law. Their victims usually:

  • Have not been able to raise money in any other way.
  • A family member or friend has recommended a loan shark.
  • The first loan is for a small amount.
  • Interest and charges make it hard to repay, so further loans are taken out.
  • Items such as benefit books are taken by the loan shark.
  • The debt increases continually.
  • Threats, including threats of violence are made when payments cannot be made.
  • These threats are carried out.
  • Victims can see no way out of their situation and can resort to desperate and severe actions.