1. ITV Report

East Anglian man pays loan shark £90,000 for £250 loan

Loan shark victim talks to ITV Anglia Photo: PA

Mike' was just 17 when he borrowed £250 to buy a car from someone he thought was a friend. The "friend" turned out to bean illegal money lender.

Over the next 17 years 'Mike' paid back an estimated £90,000 pounds,suffered a heart attack because of the stress and tried to commit suicide. He lost his house, his job and very nearly his family. The illegal money lender even attacked him in front of his children.

It was when his wife and children became the subject of the illegal money lender's threats that he reported the loan shark to the England Illegal Money Lending Team based at Birmingham City Council Trading Standards. IMLT prosecuted and the money lender went to jail.

This week 'Mike' is received national recognition with a Trading Standards Institute's (TSI) Hero Award at TSI's Conference in Manchester.

Tony Quigley, head of the England Illegal Money Lending Team, said:

"It took all of Mike's courage for him to come forward and report the lender. This was a massive help to the England Illegal Money Lending Team.

"Mike' has done everything he can to warn other people about the perils of borrowing from illegal money lenders."

– Tony Quigley, head of the England Illegal Money Lending Team

'Mike' has been an ambassador for the England Illegal Money Lending Team (IMLT) and has documented his experience in a powerful and emotive film on Youtube**

Don't get in with a loan shark Credit: Department for Business, Innovation and Skills

You can contact the England Illegal Money Lending Team on **0300 555 2222 or by e-mail at: reportaloanshark@stoploansharks.gov.ukOr