If you are a loan shark victim, or think there may be a loan shark operating in your area, contact the Wales Illegal Money Lending Unit (WIMLU ) immediately.
Call our 24 hour hotline: 0300 123 3311
All calls are completely confidential.
Specialist officers are on hand to support and assist victims and advise on debt and other problems.
It is important to know that borrowing from an unlicensed lender is not an offence. The offence will have been committed by the lender. WIMLU will not take action against any individual who has borrowed money but will try to help to get you back on the right track.
Remember, loan sharks usually charge extortionate rates of interest which can run into thousands of percent. This creates a situation where the borrower is never able to repay the loan. Some borrowers are forced into criminal acts such as theft or drug dealing to enable them to repay loans. Female victims have been coerced into performing sexual favours to cover missed payments.
Although victims often comply they are not released from their debt, they are kept in line through fear and intimidation by the loan shark.
We hope that Wales will continue to join together to Beat the Loan Sharks and bite back!