You can check out a Loan Sharks Online Application for loans here. We understand it when people search the internet looking for loan sharks online application to try to help them get the necessary cash that they need urgently.
However, alarm bells should start ringing when someone is searching for and considering taking out a loan with a loan shark, whether it’s a local loan shark or applying with an online loan shark.
Need a Loan Sharks Online Application for Loans?
Loan shark lenders do exist okay, either lending cash from door to door and they can come to your house to give you the cash you need. There are also some loan sharks that operate online as well.
We would advise you never to approach a loan shark, either online or in person.
Their services are not regulated by the authorities and they can therefore charge whatever interest they want, charge whatever fees they feel like and even change the terms and conditions of the loan part way through if they want.
You would be much better using the banners and links on this page to try to obtain the cash finance you need. Once you apply, you will get an online decision in minutes and you can then decide how you want to proceed.
If you credit history is really bad and you cannot get a loan anywhere, you might want to consider getting a guarantor loan instead, as the credit check is based on the guarantor and not on the applicant.
Reasons Why NOT to Use a Loan Shark Online Application
A loan shark can rip you off if you’re not attentive and lends money illegally.
Loan sharks may even use threats and intimidation tactics of violence to extort money from you.
- May use harassment, violence, sexual assault and blackmail if repayments are missed
- Regularly take benefit payments, goods and cash cards as security
- Lend to anyone (including under 18’s)
- Repayments of at least twice the initial amount, often with high charges for defaulting
- Discover customers by word of mouth, that is, for example, through social networking: shops, pub, school/faculty gates, taxi rank, council estates, etc.
- Regularly don’t pay any tax on their income
- Typically involved in other criminal activities, which are financed by illegal money giving
Loans Sharks and Crime
Loans sharks might be involved in other unlawful activities, such as:
- Counterfeit goods
- Guns and other weapons
- Prostitution and individuals trafficking
- Money laundering
- Loan Shark Sufferers
The vast majority of the casualties are unemployed females, who are on benefits and live in rented social housing. They certainly will have tried to borrow elsewhere first and often have debts, and have discovered the Loan Shark by means of a friend.
Prohibited money-lending also has a knock on effect. Whole communities are changed when those who have taken loans from illegal lenders and are subsequently endangered into paying many times more back than they’d originally borrowed.
Also, loan sharks in many cases are involved in other types of offences and are generally known to the Police and Local Authorities too.
Other means borrowing money
You don’t need to go to a loan shark for cash. Click on the links and banners on this page to try out the lenders we advertise, as they are all registered companies.
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