A single mum from Glasgow was threatened by a loan shark after borrowing £250 for a bed.

The woman, who needed the money for her toddler's bed, was initially charged £25 in interest every fortnight.

However, after missing a payment to top up her prepayment meter, the lender demanded double the next week.

When she could not pay, he threatened to assault her and harm her son.

This case is one of many highlighted by the Scottish Illegal Money Lending Unit (SIMLU), which warns that up to 300,000 Scots are at risk of falling victim to loan sharks.

The unit, part of Trading Standards Scotland, revealed that around seven per cent of the adult population has encountered a loan shark, either in their community or online.

They caution that illegal lenders are increasingly using social media platforms like Facebook, Instagram, and Snapchat to advertise their high-interest loans.

In some instances, loan sharks have targeted the social media pages of local food banks to exploit people at their most desperate.

Fiona Richardson, chief officer of Trading Standards Scotland, said: "It is truly shocking that loan sharks are seeking to take advantage of the cost-of-living crisis by targeting people who are struggling to pay their heating bills and put food on the table.

"The Scottish Illegal Money Lending Unit has handled some terrible cases where people have been enticed into borrowing money only to find themselves threatened with violence when they cannot meet sky-high interest repayments."

SIMLU advises never to borrow from an illegal lender and says those who have should not feel guilty, as the loan shark is the one committing the crime.

Victims are urged to seek help from SIMLU by reporting their experiences through its online form or by calling its dedicated phone number.

The free and confidential helpline for those in financial difficulties is available on 0800 074 0878 and will remain open 24/7, including over the Christmas period.

Ian Murray, Scottish Secretary, said: “I’d urge anyone who has fallen victim to the criminals peddling these illegal inflated loans to contact SIMLU so that they can get help and advice and also so these loan sharks can be stopped."