A 61-year-old man from Stanford-le-hope in Thurrock has pleaded guilty to illegal money lending but denied 13 other charges during a hearing at Basildon Crown Court.
The illegal money lender was investigated by the England Illegal Money Lending Team, working in partnership with Thurrock Council and Essex Police.
A trial is due to commence on Monday 4th March 2013 for an estimated three weeks.
The man was arrested in July last year after a multi-agency operation in which warrants were executed at his home and business premise.
Nationally the Illegal Money Lending Teams have secured over 212 prosecutions for illegal money lending and related activity, leading to 134 years worth of custodial sentences. They have written off almost £40 million worth of illegal debt and helped over 18,000 victims.