Curo's Cost of Living podcast podcast

Episode 3: Watch out for loan sharks

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As the cost of living rises, more people are turning to illegal money lenders, even using them to cover the costs of everyday basics. In episode three of Curo’s Cost of Living podcast, Marianne Rawlins, Communications and Media Manager at Curo, talks to Catherine Wohler from Stop Loan Sharks, an organisation that investigates and prosecutes illegal money lenders and provides support for borrowers.


When we think of loan sharks, we often have an image in our head of a tough-looking man who’s intimidating and unfriendly, but that’s not always the case, explains Catherine.

She also describes the shocking case of a woman whose £100 debt to a loan shark turned into £43,000. Catherine tells how the woman’s housing officer put her in touch with Stop Loan Sharks, who stepped in to help.


If you’ve borrowed from a loan shark or are worried about someone else, Stop Loan Sharks is there for you. Call them 24/7 on 0300 555 2222 or start a Live Chat by clicking on the chat icon in the bottom right hand corner of their website: www.stoploansharks.co.uk This service is available 9am-5pm, Monday to Friday.

Credit unions can be a useful source of credit for some people. To find your local credit union visit: https://www.findyourcreditunion.co.uk/


If you need help with money, Curo’s Money Advice service is here for you. It provides help for residents and offers advice about money management. Please don’t be afraid the get in touch if it's your first time. Our friendly and experienced team can help with managing debt and accessing the correct benefits. They have access to grants and funds that you may not know about. The average amount each customer saves through using the service is £4,446. For more see here. Call the Money Advice service on 01225 366000, or email: [email protected]. We really want to help.


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