Stop Loan Sharks Week: Why safe support matters

11 May 2026

Stop Loan Sharks Week: Why safe support matters 

Money worries can happen to anyone. 

Rising bills, the cost of living or an unexpected expense can quickly put pressure on your finances. When things feel stressful, it’s natural to want a quick solution. 

But sometimes, what looks like an easy answer can lead to much bigger problems. 

 

This Stop Loan Sharks Week, we want you to know that support is available. Safer options do exist, and no one should feel forced into borrowing from an illegal lender. 

What is Stop Loan Sharks Week? 

Stop Loan Sharks Week aims to raise awareness of illegal money lending. It helps people understand the risks, spot the warning signs and know where to get safe, confidential support. 

It also highlights the serious impact loan sharks can have on individuals, families and communities. 

 

When a quick fix feels tempting 

Illegal money lenders, often known as loan sharks, target people who may be feeling under financial pressure. 

They may promise: 

 

  • Fast cash 

  • Guaranteed approval 

  • No credit checks 

  • Borrowing that feels friendly or informal 

But behind these promises can be extremely high costs, unfair pressure and intimidating behaviour. 

 

How to spot a loan shark 

Loan sharks are no longer limited to word of mouth or cards through the door. Many now use social media, messaging apps and local community groups to reach people online. 

That’s why knowing the warning signs is so important. 

Be careful if you see: 

 

  • Promises of instant cash or money today 

  • No clear company name, website or registered address 

  • Only a mobile number or social media profile 

  • Pressure to borrow quickly 

  • No paperwork or clear repayment information 

  • Requests for cash payments or access to your bank details 

If something feels unclear or too good to be true, it may not be safe. 

This short video from Stop Loan Sharks explains common warning signs and how illegal lenders often target people. 

 

Support you can trust 

At Great Western Credit Union, we believe everyone deserves access to fair and affordable financial support when they need it. 

We know asking for help is not always easy. That’s why our approach is focused on listening, understanding and helping people explore safer options without judgement. 

Our Member Engagement team can help you: 

 

  • Talk through your situation 

  • Understand your options 

  • Explore what support may be available to you 

Even if you’re unsure what support you need right now, a conversation can help make things feel more manageable. You can also use this free tool from MoneyHelper to explore your options, or learn more about our safe, affordable loans here. 

 

Reporting a loan shark or getting help 

If you think you or someone you know may have been targeted by an illegal lender, confidential support is available through Stop Loan Sharks. 

You can: 

 

  • Call 0300 555 2222 

  • Use the Live Chat service on their website 

  • Report concerns anonymously online 

 

You are not alone 

Financial pressure can affect anyone, and reaching out for support is a positive step. 

This Stop Loan Sharks Week, we want you to know that safer support is always available and no one should have to face money worries alone.