Loan Shark Warning Across The North East This Christmas

Borrowing from loan sharks can lead to serious emotional turmoil and even suicide.

That is the warning to people across the North East in the run up to Christmas from the Illegal Money Lending Team.

Kath Williams is from the group and told us she's even had cases where people who owe money have been so distraught they have taken their own life.

"We have Bob down the pub who will lend you two hundred pounds when you are short, we have people who produce fake contracts and business cards and wear suits and look very, very professional. The one thing they do have in common is they're quite charismatic people."

Northumbria Police are also tackling the issue, and say lenders may seem friendly but they will often use violence and intimidation to ensure they get their money.

Figures from the Illegal Money Lending Team (IMLT) suggest that around 310,000 people use a loan shark each year. It's someone who lends money without the correct permission from the Financial Conduct Authority. The IMLT want to ensure that everyone knows what a loan shark is and more importantly how to report one.

By working with other organisations, like Northumbria Police, they aim to get the message out to those borrowing from loan sharks, especially in the run up to Christmas: There is help available.