A loan shark is someone who lends money and charges interest, but is not authorised by the Financial Conduct Authority (FCA). Loan Sharks rarely, if ever, give any paperwork and if payments are missed they often use intimidation and violence to get money from their 'clients'.
Trading Standards and Department for Business, Innovation and Skills publish a regular newsletter of successes they are having prosecuting Loan Sharks. We publish these newsletters here to help people learn about how Loan Sharks operate and to help those who may have a problem to report their concerns
Stop Loan Sharks Newsletter Winter 2016 - includes an artice about 2 Stockport loan sharks ordered to pay back £60,000 within three months.
Brinnington Community Art Group was commissioned by the Neighbourhood Team through Stockport Homes to create a mosaic warning others about the dangers of loan sharks.
The mosaic is made from over 7,500 individual pieces and took five weeks to create. Rachel Glindon, Secretary of the Community Art Group, said "There is a big problem with loan sharks in Brinnington as you may have read in the papers and the mosaic is part of a coordinated campaign encouraging residents to 'Just say no'.
"Local schools were involved with a badge and poster design competition and the Brinnington Street Watch group organised a leaflet drop around the estate as well as a Facebook campaign."
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