Stop Loan Sharks Launch New WhatsApp Service

On Monday 20th October 2025, not-for-profit organisation, Stop Loan Sharks, launched their new WhatsApp service (07700 102773) to help those affected reach them quickly and confidentially. 

If you’re struggling with money worries or debt, it’s important to be aware of loan sharks. Keep reading to find out what they are, signs to look out for, and how Stop Loan Sharks’ new WhatsApp service (and other contact points) can help if you fall into a loan shark’s trap.

Stop Loan Sharks: Key Statistics 

Statistics from Stop Loan Sharks show that, over the past two decades, their Illegal Money Lending Team (IMLT) has:

• Supported over 32,500 people.
• Written off over £91.6 million worth of illegal debt.
• Secured over 430 prosecutions for illegal money lending.

What is a Loan Shark?

A loan shark is someone who lends money to people without getting the proper permission from the Financial Conduct Authority (FCA). They will often target people who need to borrow money quickly and cannot find another lender. They can also charge very high (and illegal) interest rates, or even use threats and intimidation to enforce repayments.

Signs of a Loan Shark to Watch Out For:

Watch out if any lender you are considering:

• Is not regulated by the FCA. You can use the online FCA Firm Checker to check if they are regulated.
• Has not given you any paperwork and/or is refusing to give you any information about the loan.
• Is charging you very high interest rates and/or keeps adding more interest/charges, so the debt never goes down.
• Uses threats, intimidation, or even violence if you fall behind on your repayments. This can include taking things from you if you don’t pay on time.
• Has not completed an affordability check on you (They often lend to people who they know will not be able to pay them back so they can pressure them into borrowing more money to repay one loan with another. This causes a vicious cycle of debt that you won’t be able to repay).
• Has kept your personal items from you and is refusing to return them until the debt is paid, e.g. your bank card or passport.
• Offers cash loans or bank transfers.

How Can Stop Loan Sharks’ WhatsApp Service Help?

Dave Benbow, head of the IMLT, said:

“We want to make it as easy as possible for people to get in touch with us to report a loan shark and access our specialist advice and support. We realise it can be difficult for some people to make that first step and admit they have borrowed from a loan shark. We hope this service makes it easier. Many people will already be familiar with WhatsApp and feel comfortable using it – they can send pictures, stop a conversation at any time, but then go back to it at their convenience – it has a lot of advantages.”

Stop Loan Sharks also has:

• A 24/7 Confidential Helpline: 0300 555 2222
• A Mobile Number You Can Text: 07860 022116
• An Email Address: reportaloanshark@stoploansharks.gov.uk
• A Contact Form On Their Website: https://www.stoploansharks.co.uk/contact-us/  
• A Live Chat Facility On Their Website: https://www.stoploansharks.co.uk/ (Available Monday-Friday, 9am-5pm)
• BSL Resources On Their YouTube Channel: For those who are deaf or hard of hearing, they can provide a BSL interpreter and they also have BSL resources on YouTube.

The new WhatsApp service is available from Monday to Friday, between 9am and 5pm. Messages can be sent to 07700 102773 and will be monitored/responded to by a liaise officer during those times. The service is discreet and the Stop Loan Sharks logo will not be visible on screen.

Benbow has reassured consumers that, “However people choose to get in touch with us, every call or message is treated in complete confidence, and we are here to help, not to judge.”

Have You Fallen Into a Loan Shark’s Trap?

The first step to solving your money worries is opening up to a trusted professional. We know this can be difficult, which is why we, like Stop Loan Sharks, also offer confidential advice and support for those struggling.

If you’ve fallen into a loan shark’s trap, you’re not alone. Please don’t hesitate to use Stop Loan Sharks’ new WhatsApp service for specialist advice. For dealing with the after effects, please contact Angel Advance to receive free*, confidential debt advice from our friendly debt advisors today. Our approachable team is available to chat over the phone, via email, through WhatsApp or in a webchat.

If you don’t want to talk to us on the phone, via email or webchat, we also have a free online debt advice tool which takes less than 15 minutes to complete. Simply enter your details to tell us more about your situation, and our handy tool will create a monthly spending plan for you, give you personalised debt advice and show you which debt solutions you’re eligible for on screen, instantly. You can fill this out at any time, day or night.

*Our advice is free, but if you sign up for a debt solution, a fee will apply for some solutions.

Loan Sharks: FAQs