How people who borrow hundreds of pounds from loan sharks can end up paying back thousands

The Illegal Money lending Team are warning people in the North West not to turn to loan sharks to cover any drop in earnings caused by the Coronavirus.

Government figures say more than 300,000 households are in debt to illegal lenders.

But the actual figure's thought to be much higher because it's a crime that often goes on under the radar- in people's homes or over the internet.

Video report by Anna Youssef

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The England Illegal Money Lending Team are a small but dedicated unit that investigate and prosecute loan sharks.

Last year they carried out around 100 warrants on suspected illegal money lenders.

A stash of cash that was found by the police during a raid on a loan shark's house. Credit: ITV News

As well as raiding the homes of suspected loan sharks, the team also go into schools to raise awareness of the problem.

At St Martin's Primary School in Runcorn - Sid the Shark helps get the message across to pupils and hopefully in turn, to their parents.

It's a joint partnership with Cheshire Police and Halton Trading Standards.

Credit: ITV NEWS

The Stop Loan Sharks helpline service (0300 555 2222) remains open and fully operational during the COVID-19 pandemic.

The Team encourages not only victims but friends, family members and the wider community to come forward if they suspect someone is suffering at the hands of loan sharks.