We're Here When You're Ready: Breaking Free from Loan Sharks with Compassionate Support
At Sheffield Credit Union, we’ve always stood for ethical, community-first financial support. That’s why we’re proud to support Stop Loan Sharks Week 2025 — a campaign running from 19th to 25th May — to raise awareness of the dangers of illegal money lending and encourage those affected to seek help.
Loan sharks thrive in silence. Many people don’t realise that the person they borrowed from is acting illegally. Others feel too ashamed or afraid to ask for help. But the truth is this: you are not to blame. And there is a way out — on your own terms, and at your own pace.
The Reality Behind Loan Sharks
Borrowing from a loan shark doesn’t start with intimidation. Often, it starts with a favour — a bit of money to tide you over — especially when traditional lenders turn people away. But it doesn’t take long for things to spiral.
❌ There’s usually no paperwork.
❌ Payments can grow unpredictably with added fees and interest.
❌ They may take valuables, bank cards, or passports.
❌ Threats, intimidation, and even violence can follow missed payments.
These illegal lenders exploit vulnerability. They know their victims may feel isolated, overwhelmed, or unable to turn to anyone else. But it doesn’t have to be that way.
Four Years of Silence
According to Stop Loan Sharks, it takes an average of four years for someone to seek help after borrowing from an illegal lender. During this time, borrowers are not just facing financial strain — they’re experiencing emotional distress, shame, fear, and sometimes trauma.
In 2024, nearly half of all callers to the Stop Loan Sharks helpline also reported mental health issues — the highest level ever recorded. That’s not surprising. Living under constant financial and emotional pressure takes a heavy toll.
One borrower described their situation like this:
“If you are in a hole and I’ve got a ladder and you had to climb out, where would you see yourself on that ladder?”
“I can’t even see the ladder.”
Sheffield Credit Union: Part of the Solution
At Sheffield Credit Union, we offer a legal, supportive, and ethical alternative to borrowing from loan sharks. We believe in banking for the people, by the people, and we exist to help our community build better financial futures.
But we also know that getting out of an illegal loan isn’t just about switching to a better option. It’s about finding the courage to speak up — and having someone who listens without judgement.
What Happens When You Contact Stop Loan Sharks?
The Stop Loan Sharks team is available 24/7 — not a call centre, not a script, just real people ready to help.
You don’t have to be ready to take action straight away. Whether you want to share a bit of your story, ask a question, or just gather information — that’s completely okay. There’s no pressure and no judgement.
You can:
📞 Call the helpline on 0300 555 2222
💬 Text or WhatsApp 07860 022116
💻 Visit stoploansharks.co.uk for Live Chat or the reporting form
📩 Email reportaloanshark@stoploansharks.gov.uk
You’ll be listened to, supported, and guided at your own pace. If you prefer to stay anonymous, that’s perfectly fine too.
Real Support. Real Relief.
Here are just a few things borrowers have said after contacting Stop Loan Sharks:
“It feels like a massive weight has been lifted.”
“You just understand and haven’t been judgemental.”
“The person on the hotline created an immediate bond with me.”
“After reporting, you came back really quickly which put my mind at rest.”
Let’s Build a Safer, Stronger Community
As part of Sheffield’s community, we believe in protecting one another. Whether it’s by sharing this campaign on social media, chatting with a friend who’s struggling, or choosing to bank ethically — we all have a role to play.
This Stop Loan Sharks Week, let’s raise awareness, speak up, and remind people that help is out there. If you or someone you know is being affected, encourage them to reach out.
🟢 There’s no shame.
🟢 There’s no pressure.
🟢 There’s a team ready to listen — whenever you’re ready.