Intimidation, violence and endless debt: how loan sharks are circling the cost of living crisis

More than half of victims who borrowed from illegal money lenders last year did so to pay for food and fuel. Some of them were soon fearing for their life, writes Polly Dunbar

Loan sharks are flourishing as a result of a ‘perfect storm’ affecting those who are not able to access credit from mainstream banks (Getty)

Last winter, Claire mentioned to a mother at her children’s school that she was struggling financially. “She said she knew someone who could help,” says the 32-year-old. “I was a bit suspicious, but I was also desperate.”

A single mother of two with no contribution from her former partner, Claire had been scraping by on the money she made as a childminder. Then one of the children she looked after left unexpectedly, just as gas and food bills were soaring.

“I already had credit card debt, and I couldn’t make the repayments,” she says. “One of the mums introduced me to John, who said he could lend me £500. He was friendly and I didn’t know what else to do, so I took it. I know it sounds stupid, but I didn’t even realise he was a loan shark.”