Loan Sharks Cash In On Most Needy

Loan Sharks Cash In On Most Needy

Are your finances low?  Do you need cash in a hurry?  If your answer is 'yes' to these questions then beware of loan sharks.  The 'easy' terms they offer may not be as easy as you are led to believe.

Loan sharks are on the increase, preying on run down housing estates and some charging as much as 100% interest to people who are desperate for quick cash.  Lenders offer no agreement which has any protection for the borrower, and some deduct money from advance payment for 'expenses'.

Many people who borrow money from them are out of work and have no other way of getting immediate cash.

Some people are easily persuaded at the thought of a few extra pounds which they can pay back on 'easy terms'.  Christmas season is a good example.  People want to buy presents for children, family and friends.  They haven't got the cash, can't get credit for some reason and so they go to loan sharks.  Some people underestimate their finances and can't afford to pay the money back.

Loan sharks tend to go after the most needy for obvious reasons, and don't give a hoot if they can't afford to pay the money back. Victims get into dire trouble if they don't pay. The Loan Sharks take payment in other ways.

A few things could happen such as:

1.  Verbal threats.  The victim and/or their family threatened with violence.

2.  Victims limbs could be broken.

3.  The heavy-mob may turn up at the victims home to carry out or threaten violence.

4.  The victims property could be damaged.

Others have their child benefit books taken from them to secure payment and, if they are lucky they are given a small amount back to live on each week.  Sharks have a reputation of waiting outside Social Security offices and Post Offices to take benefit from the victims.  Some of these people get themselves into such a mess thet borrow from one lender to give to another.  The borrowers live in misery and worry.  Some have committed robbery to pay off debts.

People have been known to attempt suicide after threats from loan sharks.