loan Sharks
We have been asked many time about what’s a loan shark and how they work. What makes them so diffrent 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.
Advantages of Loan Sharks
Desprate times means desprate measures, Loan sharks comes in handy when you need money quickly and no one is willing to lend to you.
Disadvantages of Loan Sharks
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.
“Desprate times means desprate measures.”
How Much Do loans Sharks Charge
Loan sharks interest rates can range anywhere from 50% of the loan to 1000%. The Rates are calculated daily and can add up very quickly.
Loan Shark Fees
When getting loans from loan sharks make sure to check their lending fees and fine print. Most of the loan sharks will charge fees on top of the interest rates for the loan.
Loans from Loan Sharks
Getting loans from loan sharks can be quick and easy, but when paying it back it will be hard. Only take out loan that you can payback ontime and remember that you have to pay the interest and fees with the loan. Read the fine print and be sure of how much in total you have to pay back before you sign up for the loan.
