Derbyshire is biting back at Loan Sharks – events in Erewash

Derbyshire County Council is supporting Operation SharkNet running from Monday 24th August.

This is a week of action and support against loan sharks and illegal money lenders run by Stop Loan Sharks – England’s Illegal Money Lending Team.

Events are taking place across multiple locations in Derbyshire, including in Erewash, offering advice around the risks of illegal lending and support around safe, affordable alternative borrowing options.

Derbyshire County Council’s Cabinet Member for Communities and Safety, Councillor Dan Price said: “We would encourage everyone to come along and find out more about how to protect themselves, and their money, from illegal money lenders.

“If you are worried about reporting that you have borrowed money from a loan shark then please be assured that you are not in trouble.

“It is the lender that is committing a criminal offence, not you. There is support available if you are affected by this crime.”

The council’s Affordable Credit team will be on hand to talk about safe, affordable alternatives for borrowing money including Community Banks and Credit Unions.

Locally, in and around Erewash, the team will be at the following venues:

Tuesday 25th August  

• Heanor Library, Ilkeston Road: 9:30am – 11:30am
• Long Eaton Health Centre, Midland Street: 12:30pm – 3:30pm
• Ilkeston Library, Market Street: 4:00pm – 6:00pm

If you, or someone you know, is unsure about whether someone is an illegal money lender, then the FRIEND framework offers some key questions to ask.

• Friend: Is the lender really a friend, and what happens if you do not pay them?
• Repeat: Does this person lend to multiple people, or has the borrower used them before?
• Interest: Are extortionate or changing interest rates and extra charges being added
• Evidence: Is there any official paperwork, contract, or written record of the loan?
• Nervous: Does talking about the person or owing them money cause visible distress or fear?
• Disruptive: Is the lender a dangerous or intimidating presence in the borrower’s life?

If you are concerned about a Loan Shark, you can call Stop Loan Sharks on 0300 555 2222 at any time of the day or night

For more advice and support around loan sharks and illegal money lending visit: www.stoploansharks.co.uk

If you do need to borrow money, but cannot access mainstream lending, you can find out about local community banks which offer safer borrowing options at www.derbyshire.gov.uk/creditunions