Money Wellness gets national recognition for work with Stop Loan Sharks

We’ve won a national award for our efforts in warning about the dangers of using loan sharks.

The award is from the England Illegal Money Lending Team (IMLT). It has been given to us as a recognition of the work we’ve done in tackling loan sharks and making communities across the country feel safer.

The IMLT, also known as Stop Loan Sharks, investigates and prosecutes illegal money lenders and supports anyone who has borrowed money from a loan shark.

As part of the award, we have achieved Partner Recognition from the IMLT. This highlights and rewards partners who work alongside the IMLT to raise awareness of loan sharks, the impact they have on local communities, and ensures safer spaces are created for people to live and work.

Sebrina McCullough, director of external relations at Money Wellness, said: “There’s around a million households in debt to illegal money lenders in this country.

“We support people every day who feel there’s no other option than to borrow from a loan shark to meet every day living costs. And because loan sharks come in all shapes and sizes, some aren’t even aware they have borrowed from one.

“We’re pleased to be supporting the IMLT by raising awareness of the dangers of lending from a loan shark.”

Tony Quigley, head of the IMLT, said: “We would like to congratulate Money Wellness on their partner recognition award and thank them for their outstanding effort in helping to tackle illegal money lending activity and help people with their financial wellbeing.

“We are grateful for the support of all of our partners across the country who help us to raise awareness of the dangers of illegal lending and how borrowers can access help and support.

“Together we can protect communities and stamp out this predatory crime.”

This year marks the 20th anniversary of the IMLT. Since its launch, the team has supported over 31,500 people and written off over £91.2 million worth of illegal debt, securing over 416 prosecutions for illegal money lending, leading to 598 years in jail.

Anyone who believes they might have been targeted by a loan shark can contact the Stop Loan Sharks 24-hour confidential helpline on 0300 555 2222, email [email protected] or complete an online report form at www.stoploansharks.co.uk. Live Chat is available on the website from 9am to 5pm, Monday to Friday.