A SUSPECTED loan shark has been arrested in Hyde in an early morning operation.
The England Illegal Money Lending Team (IMLT), in partnership with Greater Manchester Police, swooped on the Tameside address on Wednesday, September 10.
And a 46-year-old man was arrested after cash and documentation were found at his property.
A 27-year-old man was taken in following a raid at another property in the Handforth area of Cheshire, with two mobile phones seized. He has since been bailed.
The IMLT works in partnership with Tameside Council trading standards services to investigate and prosecute illegal money lenders.
And its head, Dave Benbow, said: “Illegal money lending will not be tolerated in England, and we work with partners across the country to take action against those who blight our communities in this way.
“If you’ve been offered a loan, been threatened or intimidated when you couldn’t pay, had a bank card taken as security or if what you owe keeps growing even though you are making payments, then you may well have been targeted by an illegal lender.
“If you, or anyone you know, has experienced any of these things or has any knowledge of loan shark activities then contact our team in complete confidence.”
There are up to 1.08 million people in debt to loan sharks in England, according to figures from the Centre for Social Justice (CSJ).
Signs of an illegal lenders include:
Giving you no paperwork or agreement on a loan.
Refusing to give you information about the loan.
Keeping items until the debt is paid such as your bank card or passport.
Taking things from you if you do not pay on time.
Adding more interest or charges so the debt never goes down.
Using intimidation or violence if you do not pay.
Anyone who has been affected by illegal money lending should call the Stop Loan Sharks 24/7 Helpline on 0300 555 2222 or access support online at www.stoploansharks.co.uk.
Live Chat is available there from 9am to 5pm, Monday to Friday.