A woman has been arrested on suspicion of illegal money lending in Exeter. The England Illegal Money Lending Team (IMLT) worked alongside officers from Devon and Cornwall Police to execute a warrant at an address in the Pennsylvania area of the city today (Wednesday, April 24).
They seized electronic devices and paperwork as a 46-year-old woman was arrested. She was taken into custody to be questioned by IMLT investigators and later released on bail pending further inquiries.
Tony Quigley, head of the IMLT, said: “Today’s action is part of our ongoing work to tackle illegal money lending in England. We would like to thank our partners who have worked with us on this investigation.
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“We would urge anyone who thinks they may be in debt to an illegal lender to contact us in confidence for specialist help and advice.
“We realise it might be a difficult step for people to admit they have borrowed from an illegal lender, but we are here to help, not judge.”
According to figures from the Centre for Social Justice, there are up to 1.08 million people in debt to loan sharks in England. The warning signs of an illegal lender include:
- Giving you no paperwork or agreement on a loan
- Refusing to give you information about the loan
- Keeping items until the debt is paid such as your bank card or passport
- Taking things from you if you don't pay on time
- Adding more interest or charges so the debt never goes down
- Using intimidation or violence if you don't pay
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