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A Yorkshire woman has told of her fears from dealing with loan sharks, warning: "If I don't pay I get a beating." It comes as a report from the Centre for Social Justice (CSJ)...
A loan shark is a person who offers loans at extremely high or illegal interest rates, has strict terms of collection, and generally operates outside the law, often using the threat of violence or other illegal, aggressive, and extortionate actions when seeking to enforce the satisfaction of the debt. [1]
Oct 11, 2019 · Illegal high interest lending or ‘loan sharking’ exploits the vulnerable and has profound negative impacts on individuals and communities. The 2008 UK financial crash and subsequent austerity programme coupled with changes in the consumer credit market have fuelled an increase in predatory lending.
- Patrick Saunders
- 2021
What does the noun loan-shark mean? There is one meaning in OED's entry for the noun loan-shark . See ‘Meaning & use’ for definition, usage, and quotation evidence.
If you describe someone as a loan shark, you disapprove of them because they lend money to people and charge them very high rates of interest on the loan. [informal, disapproval] The decline has raised concerns that borrowers could have to turn to illegal loan sharks. Collins COBUILD Advanced Learner’s Dictionary.
Mar 21, 2022 · Snapchat loan shark who threatened victims jailed. Who borrows? With people unwilling to talk about debt, there is little data about unlicensed lenders - but the right-leaning think-tank, the...
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What is a loan shark. A money lender has to be authorised by the Financial Conduct Authority (FCA) to lend money legally. Money lenders who aren’t authorised by the FCA are breaking the law. They are known as loan sharks.
