Over a million people are estimated to be borrowing from illegal lenders, the impact of which can be hugely harmful to victims’ finances, mental health and personal lives. Banks, lenders, and debt collection agencies are extremely likely to come into contact or serve customers who are victims of illegal money lending. With all this in mind, we engaged with England Illegal Money Lending Team, to get a greater understanding of the area and how it impacts lending, such as income and expenditure assessments and capturing vulnerability.
Read The Last Resort: identifying and supporting victims of illegal lending.
