How Loan Sharks Trap Ordinary People And What Actually Works To Escape

The most dangerous lender in your life might look like a friend. Catherine from Stop Loan Sharks joins us to reveal how illegal moneylenders hide in plain sight—at school gates, in workplace chats, and even on Social Media and why the first loan often feels like a favour before the terms twist into intimidation, shame, and spiralling costs. We unpack “double bubble” repayment traps, the confusion created by no paperwork, and how variable pricing punishes the most vulnerable.

We talk frankly about who gets targeted. It’s not just low-income households. Homeowners and workers get caught too, especially after life shocks like a job loss, a new baby, or a relationship breakdown. We compare safer options such as credit unions and CDFIs, and we’re honest about their limits when budgets are already negative. That’s where awareness and access matter: community conversations at our TBBT hubs help people spot red flags early, ask questions without judgement, and find real support before debt spirals.

Catherine shares powerful wins: a 98% prosecution success rate, over 400 loan sharks taken to court, more than £90 million of illegal debt written off, and tens of thousands of people helped. Most importantly, she explains a lifeline too few know: lending without authorisation is a criminal offence, and illegal debts can be wiped when reported. You can now contact Stop Loan Sharks by WhatsApp on 07700 102773 or call 0300 555 2222 for confidential help.

If you’ve ever wondered whether a “friendly loan” is safe, or you’re supporting someone under pressure, this is a must-listen. Share it with a neighbour, a colleague, or a family member who might need it. Subscribe, leave a review to help others find us, and tell us what support your community needs next.