What is Loan Sharking?

Loan sharking or also known as usury it’s an illegal practice of loaning money with unjustly high interest rates. In most states this is considered as a felony and it is punishable by a fine or imprisonment or both. If the your in need of money and no legal creditor like a bank or any other financial institution rejects your request then you should really consider to accept the help of a loan shark.

They will happily give the loan any amount that you desire but they also charge unjust interest rates. And these rates are outstandingly high. There were cases when a loan shark forced the borrower to pay back the money loaned more then one time. And if you don’t happen to have the money when and the exact amount they need you might get harmed physically.