We have been asked many time about what’s a loan shark and how they work. What makes them so different from normal loan lenders. In this section we try and define loan sharks and find out everything about them,how they operate, what they offer and how to use them safely.
What's a Loan Shark
A loan shark is a person or company that offers loans to you and me at a very high interest rate. In most cases the loans are for very short term.
Loans from loan sharks willl have a very high interest rate. In most cases loans will come with hefty fees and conditions aswell.
HOW LOAN SHARKS WORK
Loan sharks work by providing loans to people who have a bad credit or to anyone who is not able to get loans through normal lenders. They make their money by charging very high interest rates and fees