Trading Standards - Challenge Poverty Week

11th October 2025

This is Challenge Poverty Week, an annual awareness-raising campaign led by Poverty Alliance Scotland.

Over the last few years, rising costs have led to a rise in illegal money lending and people in financial difficulties may feel that they have no option but to turn to a loan shark.

Research commissioned by the Scottish Illegal Money Lending Unit (SIMLU) last year found that 7% of respondents had encountered a loan shark either in their community or online. Across the wider population, this equates to around 300,000 people.

Illegal lenders are increasingly operating online, offering quick and easy loans via social media and WhatsApp. These loans can seem attractive to those in crisis situations; however, the lenders are not usually authorised by the Financial Conduct Authority and often charge huge interest rates. They don't always provide paperwork or clear terms of the loan, which allows them to exploit people and trap them in a seemingly never-ending spiral of debt.

If you are struggling with debt or if you have already borrowed money from a loan shark and are feeling trapped, out of control or isolated, please reach out and talk to one of the many organisations who can help you.

You may feel that you have nowhere to turn, but help is available - you are not alone.

The free and confidential 24-hour loan shark helpline is open 7 days a week. Call 0800 074 0878 or ask our new chatbot Finlay for advice at stopillegallending.co.uk

Find Support
Joining a credit union has many benefits - they help you save money, offer loans at competitive rates, provide advice on budgeting and are community-focused. Find your local credit union:
www.findyourcreditunion.co.uk

Find out if there are any benefits you are entitled to but are not yet receiving: www.moneyadvicescotland.org.uk/benefits-calculator

Citizens Advice Scotland’s Money Map can help you find support to increase your income and reduce bills: https://moneymap.scot

Find more organisations that can support you with debt advice: stopillegallending.co.uk/how-we-can-help