We have been nationally recognised for our vital role in tackling illegal money lending and supporting vulnerable residents. By partnering with the England Illegal Money Lending Team (IMLT), we are showing our commitment to safeguarding communities from the dangers of loan sharks.
Illegal money lending preys on the most vulnerable, with lenders often resorting to intimidation and violence to enforce repayments. Many illegal money lenders are well known within their communities and are often introduced to borrowers through friends or family members.
We have worked with the IMLT for several years to raise awareness of the dangers of illegal lenders. To achieve Partner Award recognition, we participated in specialist training to identify signs of illegal money lending and provide appropriate support. We also launched awareness campaigns through our website, newsletters, social media, and community leaflet drops.
Becky Hayward, Income and Sustainment Manager at GCH said: “It is a heart-breaking topic, as people often feel at their lowest when owing money to loan sharks. Following the training, our team is now better equipped to recognise the signs that someone might be borrowing from an illegal lender. We are proud to receive the Partner Award and remain committed to supporting the Illegal Money Lending Team in their mission to protect the most vulnerable in our communities. By continuing this partnership, we aim to help customers feel safer and more secure.”
The Stop Loan Sharks Recognition Programme awards organisations that pledge, demonstrate or advocate support for the IMLT by raising awareness of the dangers of loan sharks in communities. Partners must ensure that staff are able to respond effectively to suspected or reported cases by either signposting victims to relevant services or providing direct support.
Since its creation in 2004, the IMLT has secured 427 successful prosecutions, with illegal lenders locked up for more than 609 years. More than £91.3 million in illegal debt has been written off, and around 32,000 borrowers have been supported.
If you or someone you know has been affected by illegal money lending, contact the Stop Loan Sharks 24/7 Helpline on 0300 555 2222 or visit www.stoploansharks.co.uk. Support is available through live chat Monday to Friday, 9am to 5pm.