Residents are being urged to stay alert following reports of illegal money lenders – known as loan sharks – operating in County Durham.
believe housing is working with Durham County Council to raise awareness of the risks and help protect people from harm.
Together, believe housing’s Money Matters Team and team members from the council’s Neighbourhoods and Environment service, along with Durham Constabulary and NEFirst Credit Union, have been speaking directly with residents in the east of the county, following reports of loan sharks, and sharing advice on how to spot and report illegal lending.
The teams are also promoting safer ways to borrow and save money, such as joining a credit union, and encouraging people to seek support instead of turning to unsafe lenders.
Gavin Coleman, Money Matters and Tenancy Sustainment Team Leader at believe housing, said: “Loan sharks often appear helpful at first, but their behaviour can quickly become threatening and dangerous.
“They take advantage of people during times of financial stress, especially in the run-up to Christmas when rising energy bills and festive costs add extra pressure.
“We want people to know there are safer options and support available.
“You don’t have to face money worries alone.”
Owen Cleugh, Durham County Council’s Safer Places Manager, said: “We’re happy to be supporting the work of believe housing to routinely warn residents of the dangers illegal money lenders can pose, and how quickly they can take advantage of people, especially during the festive period.
“Loan sharks may start out friendly, but their behaviour can change when payments are missed.
“Harassment is against the law. If you’re being harassed you should report it to your local police officer, dialling 101. If you’re in immediate danger, dial 999.
“Illegal money lending happens up and down the country, but we want to make County Durham residents aware that there is a range of support for those struggling with money which can be found at www.durham.gov.uk/helpwithyourmoney
“We are here to help and support people when they need it most.”
The joint activity is part of Talk Money Week 2025, a national campaign that encourages people to talk more openly about money and make informed financial decisions.
Need help with money?
believe housing’s Money Matters Team offers free, confidential support to help customers manage their money and avoid unsafe borrowing.
The team can help with accessing benefits and grants, reducing household bills, and exploring safer alternatives to borrowing.
Customers can contact believe housing by calling 0300 1311 999 or emailing hello@believehousing.co.uk
More information is available at www.believehousing.co.uk
Energy bills are one of the biggest household expenses. Find practical tips to reduce energy use and help manage your bills at www.believehousing.co.uk/in-your-home/payments/energy-saving-tips
The NEFirst Credit Union is a non-profit co-operative that offers savings and loan services and exists solely to benefit its members. It also offers schemes to help people buy furniture and white goods through affordable weekly payments.
Visit the website www.nefirstcu.co.uk for more information.
Worried about loan sharks?
Loan sharks are illegal lenders who charge very high interest and operate without a licence.
They often target people in financial difficulty, appearing friendly at first but quickly becoming threatening or violent if payments are missed.
Borrowing from a loan shark can cause serious financial and emotional harm.
Victims may be pressured into borrowing more, given little or no paperwork, and find it hard to repay.
For advice on protecting yourself from illegal money lending, visit www.durham.gov.uk/loansharks
To report an illegal money lender, call Stop Loan Sharks on 0300 555 2222. This confidential service is available 24 hours a day. You can also report concerns online at www.stoploansharks.co.uk
If someone is in immediate danger, call 999.
We know that managing money can be stressful, especially when energy bills keep rising. That’s why we’re supporting Talk Money Week, a national campaign to get people talking about money.
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