Loan shark terrorised single mum and toddler as thousands risk falling victim at Christmas

The woman and her child were threatened on her doorstep
-Credit: (Image: Getty Images)


A single mum was terrorised by loan sharks in the run-up to Christmas - with moneylenders arriving at her door and threatening to harm her and her toddler.

The mother, from Glasgow, borrowed £250 from a loaner to pay for a new bed for her young son last year. The illegal lender began charging her £25 interest every fortnight, which she was initially able to pay.

But when she missed a payment after Christmas so she could afford to top up her prepayment meter to keep the heating on, he told her she would have to pay double the following week. When she failed to attend their next meeting to pay him, he arrived at her door and threatened her and her child.

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The mother reported his actions to the Scottish Illegal Money Lending Unit (SIMLU), which is part of Trading Standards Scotland. The organisation was able to help the mum access a local foodbank, receive debt and welfare advice, find support groups, and arrange a volunteering opportunity.

The mother has shared her story as consumer watchdogs reveal that up to 300,000 people in Scotland are at risk of falling victim to loan sharks this Christmas. The illicit moneylenders are adapting their tactics to prey on those hit hard by the cost-of-living crisis, with lenders even going as far as targeting the social media pages of local food banks.

SIMLU is urging Scots to take caution and to be aware of the risks associated with illegal moneylenders, especially in the build up to Christmas, and to report them through its dedicated helpline and online portal, as well as seeking help if they have fallen victim.

Fiona Richardson, chief officer of Trading Standards Scotland, said: “It is truly shocking that loan sharks are seeking to take advantage of the cost-of-living crisis by targeting people who are struggling to pay their heating bills and put food on the table. The Scottish Illegal Money Lending Unit has handled some terrible cases where people have been enticed into borrowing money only to find themselves threatened with violence when they cannot meet sky-high interest repayments.

“In the build up to Christmas many people will feel under pressure to spend money, but the dangers of borrowing from unauthorised or informal lenders cannot be overstated. Our advice is to never borrow from a loan shark, but if you have done or even if you are thinking about doing so, please come to us so our experts can help you.

“SIMLU has been investigating and bringing illegal lenders to justice for 20 years, and the more people who report such crimes the less chance there is of others falling victim.”

SIMLU’s advice is never to borrow money from an illegal lender. Those who have done so should not feel guilty or ashamed because the loan shark is the one committing the crime, not them. Anyone who has fallen victim should seek help from SIMLU by reporting their experiences through its online form or by calling its dedicated phone number.

The organisation is also advising people to look out for family, friends and neighbours who might have fallen victim to a loan shark, and to contact SIMLU on their behalf if they are worried. The free and confidential helpline for those in financial difficulties is available on 0800 074 0878 and will remain open 24/7, including over the Christmas period.

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