Loneshark Threatening Brother and his Family?

sdavies13

Hi all,

I have lurked for a while and realise this is my first post so feel free to take the following with a pinch of salt if you choose.

My sister-in-law has pulled a disappearing act and now a loan shark has popped out of the woodwork demanding interest payments with menace.

My brother is at his wits end and I am scared he might do something silly.

He went to the police who advised him to repay the loan shark. Thing is apparently he is owed £23,000 and was charging interest at £1000 pm. My brother doesn't have that sort of money, is on a low income and his wife cleared out their savings before going. The police also advised him to go to a solicitor and get a restraining order against the man, but that wouldn't stop his cronies and new people keep popping up each time.

He has also phoned the governments stop loan sharks phone number who said they will help him sort out his finances! He doesn't need his finances sorting, he needs this guy to get off his back!

Someone phoned my brother a couple of days ago and said they want £2800 today (Saturday) otherwise things will get unpleasant.

I have never known my brother to be so scared and worried.

Any help or suggestions you might be able to make are greatly appreciated.

S.

Mojisola

sdavies13 wrote: »

My sister-in-law has pulled a disappearing act and now a loan shark has popped out of the woodwork demanding interest payments with menace.

He went to the police who advised him to repay the loan shark. Thing is apparently he is owed £23,000 and was charging interest at £1000 pm. My brother doesn't have that sort of money, is on a low income and his wife cleared out their savings before going. The police also advised him to go to a solicitor and get a restraining order against the man, but that wouldn't stop his cronies and new people keep popping up each time.

Is this debt money that your sister-in-law borrowed without your brother's knowledge?

go_cat

What name is the debt in - if your SIL the loanshark needs pointing to her wherever she may be

nottslass_2

Firstly I'd be making a complaint about the officer that gave you the advise to pay the loan shark - what they are doing is illegal and should be taken seriously...........

I've done a quick google and copy and pasted this from the direct gov website.
What to do if you have borrowed from a loan shark

Loan sharks sometimes frighten people by saying they'll be prosecuted and even sent to prison if they don't pay up. This can't happen – an unlicensed lender has no legal right to recover the debt. If you have borrowed money from a loan shark, there's no legal obligation for you to pay them back.
You can report a loan shark in confidence to an Illegal Money Lending Team.
If you live in England

• call 0300 555 2222
• text LOAN SHARK and the details you want to pass on to 60003
• send an email to reportaloanshark@stoploansharks.gov.uk

SailorSam

Whether it's legal or not, or no matter whose name the loan is in from what i see in the news these loansharks just want their money. And threats on your family seem to be the way they work, they can't afford to be seen as going so soft by any other people who owe them money.
Sorry don't know what to advice, you really need to stand up to them but it's going to be difficult.

sdavies13

Thanks all.

My brother did not know about the debt. He didn't find out until the loan shark called him to say my SiL had failed to make an interest payment.

She has fled back to Thailand and my brother told the loan shark this but he said she is his wife so it is his debt to clear and he does not want any excuses.

My brother has just phoned me and said the only thing he can think of doing is to flee, himself. But if he does this his business (which is already on a rockly slope) will fail and he would then be unable to pay his mortgage and lose his house. Talking to him the loan shark has said things like "if this doesn't get resolved someone's going to get shot" and someone phoned him up (not the loan shark) and said "if he doesn't get the interest owed this will get unpleasant".

They know where my brother works, they know where he lives. He is at his wits end!

I have thought about taking out a bank loan to pay this off but we don't know if the SiL has borrowed money from anyone else who will then pop-up!

I am going to be with my brother today and take a video camera with me. I'm not a fighter, haven't had a fight since I was at school! Just hope if anything does kick off the police get there quick enough and will actually do something...

Hotspur

LOts of info on this link http://www.direct.gov.uk/en/MoneyTaxAndBenefits/ManagingDebt/DebtsAndArrears/DG_10035958

Give the Illegal Money Lending Team a call as they will have the right contacts and, unlike the idiotic Police Officer, won't advise you to pay it back and walk away from the problem!

Mojisola

sdavies13 wrote: »

My brother has just phoned me and said the only thing he can think of doing is to flee, himself. But if he does this his business (which is already on a rockly slope) will fail and he would then be unable to pay his mortgage and lose his house. Talking to him the loan shark has said things like "if this doesn't get resolved someone's going to get shot" and someone phoned him up (not the loan shark) and said "if he doesn't get the interest owed this will get unpleasant".

If threats like this are being made, the police must get involved!

daska

If they see the video camera that might well inflame things. Do you have a phone with the ability to record that could sit in your pocket? Can you set something up that can't be seen?

*Louise*

What a horrible situation - your poor brother

He definitely needs to speak to the team mentioned in the directgov link, and the police should ba taking this much more seriously, especialy if those sort of threats have been made

go_cat

Don't see how a debt in SIL name means brother is liable

Although obviously oan sharks not bothered with the law

I don't know which part of London you are from but this is from Wandsworth council for their illegal money lender team

020 7364 6886, or email [EMAIL="sharkbait@lotsa.org.uk"]sharkbait@lotsa.org.uk[/EMAIL], or text: Shark Bait (+ your message) and send to 6000