Loan Shark Definition – are you looking for the definition of a loan shark?
A loan shark is definitely someone you should steer well clear of no matter how desperate you are for money.
A loan shark by definition is “a moneylender who charges extremely high rates of interest, typically under illegal conditions.”
Representative 277.5% APR - Representative Example: Amount of credit: £750 for 12 months at £119.21 per month. Total repayment of £1430.52. Interest: £680.52. Interest rate: 140% pa (fixed). 277.5% APR Representative.
If you are considering a loan shark we straight out say do not do it. If you are need of the money we can help you find a reliable and safer option by taking out a loan with a registered, regulated and reputable lender, no matter what your credit rating.
Loan shark definition “is a person or body who lends money without the correct authorisation from the Financial Conduct Authority (FCA).” Typically they lend money at inflated interest rates, usually unlawfully.
You may be considering a loan shark due to being refused a loan elsewhere. You may have bad debt, are on benefits or on a low income and have lost hope of being accepted by a certified money lender.
No matter what your situation our lenders will work hard to get the money you desperately need. Simply fill out the application form on our page and with the information you provide we will best match you with a lender that will suit your circumstances.
Are you looking for loan shark definitions and for where to look for a loan shark in your local area?
Please do reconsider this. Sarah had an extremely distressing experience with a loan shark. She was in a very grim financial situation and desperately needed money. Unfortunately, she also had extremely all credit types and could not get accepted anywhere.
Sarah was so desperate she went to a loan shark for the money. The loan shark harassed Sarah on a weekly basis and demanded a ridiculous about of money from her. The harassment from the loan shark drove her to deep depression.
Sarah’s experience is not unique. People who go to loan sharks for help regret it as soon as they receive the money and the loan shark turns nasty.
No matter what your situation is, low income, poor credit or on benefits there is regulated lenders out there that can help you. Unlike loan sharks, our lenders are well certified, provide safe borrowing and provide a realistic and approachable attitude to lending.
Stop looking for loan shark definitions or how to find a loan shark online and more importantly click on the links on this page to be taken to trusted lenders that can help you safely get the money you need.