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Loan Shark
(01-06-2018, 09:58 PM)lisadolor Wrote: We should all just be careful on the people whom we will borrow money. Loan sharks can be very abusive and send death threats not just to you but also your family. So be careful.

In as much as I've not heard cases of them sending death threats, which to me is way too against the law, I think the discomfort one gets when being unable to pay back such loans is an idea of how difficult it is. One thing we've got to understand about getting loans is that it is not how easy it is to get them that matters, but how possible and easy it is to pay back. Once we understand that fact, we got to be careful at the end. 
Loan shark could be somehow a help for those who are in dire need of money but it offers more negative things rather than positive things. With the higher interest rate, one could be burried in debt and becomes financially ill in the future, that which I think is painful especially if you're raising a family and all you want is to provide and suffice its daily needs. Loan shark could answer your need quickly but could ruin as well your life that quickly. It's a sad thing though but this is the reality of life. If there's a way I can't take loan from them, I'll choose that way and look for some alternative, something that will not hurt me in the future if things went bad. I hope one day, the government will take step to revolutionizing the financial system of the country that could give more benefit to its people.
In my research loan shark is very popular in my Country in the Philippines but our President Rodrigo Duterte arrest the top 5 money lending business because it have a loan shark so what is loan shark? Loan Shark it is legal activity that you they lend you the money and have a high rate interest so if you don't pay back the money you will be in prison and the money lender have many money and rich faster . Easy money isn't it? My country is one of the corrupt country in the world so many in my badly want money and to become rich rich and rich even they hurt they community they will still exist this loan shark. In other Country Loan Shark is banned like ours but some people don't hesitate or scared to have this illegal activity due to crisis, thanks to our President he prevented crime to our country.
A loan shark is like an individual in your town that you borrow money from and if you don’t pay on the right time you might find yourself in a bad situation. No documents, no license to loan. It is a UNOFFICIAL LOAN, I advice not to try this.
I actually know a guy who I suspect might be a loan shark, and while I'm not 100 % sure I believe he resorts to violence, not just threats if the debt is not paid back. I would think twice before borrowing from them if my life depended on it. Anything could happen, that could make you unable to pay the debt - hell, if you resort to this you're probably in a bad situation already so it really is not worth it.
Hi guys, I'm from Philippines, here in our place we call them money scalawags, they sugar coat their words to deceive financially capable looking people, people taking their baits ended up losing their microwaves,refrigerators, air conditioners,motorcycles,cars or even a house, our President even asked to arrest the small time money lenders or also known as the Bombays , and ordered to capture sweepstakes fake minions, for me aside from those other money fish(loan sharks) Bombays are nice people who helps others to achieve their dream small time business, i myself had loaned from a Bombay and successful paid his interest, I'm against Loan sharks but for me small time lenders should be allowed for they follow the phrase " you scratch my back and I'll scratch yours", that's what i think Smile
Loaning from a loan shark is like having debts in jail. It's something you should avoid at all costs, because when loan sharks return to collect their debts, sometimes it's due through uncommon measures, not to mention the interest that pile onto you all of a sudden. Loan sharks definitely wouldn't be necessary in the PH if the economy was more stable, but the increasing demand of money but little supply of jobs requires us to utilize a loan sharks services.
(01-06-2018, 11:14 AM)Heart Wrote:
(01-05-2018, 01:51 AM)aecel Wrote:
(01-04-2018, 01:29 PM)Heart Wrote: I have only known loan sharks on a movie. Where in the loan shark itself is a member or a leader of an illegal syndicate. For sure Loan Sharks do exist in real life but if you do have other choice just dont avail some loan from it since you can also put your life and your family in danger. Just the name of it sounded danger already.
They do exist not only in movies but in real life. I've watched numerous news about loan sharks, especially in gambling or casinos. Those people who are addicted to casinos if they lost a huge amount of money they will borrow to loan sharks thinking that they might be able to recover the amount they have been lost. Little did they know they will be trapped by loan sharks. If the borrowers don't pay right away they're going to kidnap the borrowers and they will contact their families just pay them. These loan sharks are sometimes syndicates doing illegal transactions they don't have a permit to do such business that's why they give high interests.

Yeah casinos! Now I remember, It was last year I think it was early week of june, when a man addicted to casinos commited suicide burn himself in a hotel where he usually play. He was burried deeply in debt because he often lose in casino and got himself bankrupt. According to reports he had illegal debt transactions and those people were after him and threatening his life. Scary how Loan Sharks can really drag you in the hell hole.

Yes, this is a good example of loan sharks I also remember that event. Sadly there were many people have been trapped in the fire. Loan sharks are often found in casinos because they know that lots of people there are addicted to gambling and people will do anything to take their money back so their options are to lend money from loan sharks. I also watched news that they kidnap the borrowers from casinos because he can't afford to pay. Luckily he got out because his family coordinated with the police and loan sharks are now in jail. But we can't say that they're in jail maybe they got out too and doing the business again.
Individuals who manage loan sharks commonly have no other choice to get brisk money. There are numerous little time organizations that advantage from the presence of loan sharks. They give a relentless wellspring of financing for their operations. On the off chance that their business is doing great, at that point the high enthusiasm on the advance ought not be quite a bit of an issue. Truth be told, Visa holders who take out loans from their charge cards are most likely paying more for premium and expenses than the individuals who obtain cash from credit sharks.
It seems the common consensus in this thread is that loan sharks are dangerous. How influenced is that opinion from popular media?
I watch Kdrama, anime, and tv shows, read manga and webtoons, and in all of them loan sharks are set out to be some sort of gangsters. Always bringing some type of weapon force the person to pay with interest if their late. Loan sharks in anime are usually portrayed as tough guys with bodyguards, while loan sharks in manga and webtoons are the same. I have yet to see a loan shark with a nice attitude towards people who loan from him.

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