Help for Loan Shark Victims: Cornwall Libraries to Host Support Sessions

Free Specialist Support Tour Kicks Off in November

Starting this November, individuals dealing with debts from illegal money lenders, commonly known as loan sharks, will have access to free help and advice across Cornwall’s libraries and the Isles of Scilly. Cornwall Council’s Library Service is partnering with the England Illegal Money Lending Team (IMLT) to bring this vital support directly to local communities.

Raising Awareness and Offering Support

The collaboration between Cornwall Council and IMLT aims to educate the public about the dangers posed by loan sharks, while also providing support for those affected. Dave Benbow, acting head of IMLT, known as Stop Loan Sharks, emphasised the importance of these events:

“Illegal money lenders are often well known in a local area and can target the most vulnerable in those communities. By visiting these libraries we hope to reach people in communities across Cornwall to make sure they are fully aware of the dangers of illegal lenders, the alternatives available, such as credit unions and CDFIs, and how they can get help from the team here at Stop Loan Sharks if needed.”

Dave expressed his gratitude to the Cornwall library service for hosting these events, adding that their mascot, Sid the Shark, will also make an appearance to engage with visitors.

Why This Matters: Understanding Loan Sharks

Many illegal lenders present themselves as friends initially, lending money without formal paperwork and charging excessive interest rates. Unlike regulated lenders, they do not conduct affordability checks, often lending to individuals who struggle to repay. Borrowers of illegal money lenders do not benefit from consumer law protection and may face intimidation, threats, and even violence if they fail to make repayments.

Carol Mould, Cornwall Council’s portfolio holder for neighbourhoods, highlighted the importance of the partnership with IMLT:

“We are excited to collaborate with the England Illegal Money Lending Team as they tour Cornwall’s libraries to raise awareness about the dangers of loan sharks. This aims to empower local communities with the knowledge and resources needed to protect themselves from illegal money lenders and access safer financial alternatives. Libraries have always been hubs of information and support, and through this partnership, we’re furthering our commitment to fostering a safer, informed, and financially resilient community.”

Tour Dates and Locations

The library tour will run from November until April 2025, with the following confirmed dates and locations:

• November 12: Newquay and Camborne libraries
• November 14: Truro and Redruth
• November 26: Callington
• November 28: Saltash and Torpoint
• December 17: Camelford and St Ives
• February 5: Bodmin and Bude
• February 12: Helston and Hayle
• February 20: Falmouth
• March 26, 2025: St Austell and St Agnes
• April 9: Isles of Scilly

Stop Loan Sharks: A Proven Track Record

Stop Loan Sharks, hosted by Birmingham City Council, was established in 2004 to investigate and prosecute illegal money lenders and provide support to affected borrowers. Over the past 20 years, the team has made 850 arrests and achieved 424 successful prosecutions, leading to more than 606 years of prison sentences for illegal lenders. They have also written off over £91.3 million in illegal debt and supported approximately 32,000 borrowers.

How to Get Help

Anyone impacted by illegal money lending can reach out for support by calling the 24/7 Stop Loan Sharks Helpline at 0300 555 2222 or by accessing their website. The site also offers Live Chat support from 9 am to 5 pm, Monday to Friday.

This outreach effort underscores the commitment of Cornwall Council’s Library Service and Stop Loan Sharks to protect and educate local communities, helping them navigate safer financial choices and break free from the grip of loan sharks.