How To Find A Loan Shark
How To Find A Loan Shark
If traditional banks and loan sources from credit unions and such have failed you and you need emergency money to help cover expenses, then you may be wondering how to find a loan shark. If only banks would just trust you, then you wouldn’t have to borrow money from a loan shark. Unfortunately, banks cannot work this way – because if they did, then they would go broke because the majority of borrowers would default on the loan. There are exceptions (probably someone like yourself) who would pay the loan back over time. This opens an alternative market for those with bad credit who need loans immediately. It is extremely imperative that you know the difference between licensed and unlicensed loan sharks, as knowing the difference could literally save your life. A licensed loan shark is a financial institution that loans out a loan at a high APR (Annual Percentage Rate) to a person with horrible credit and is licensed by their government to hand out loans. An unlicensed loan shark, on the other hand, is someone who is NOT licensed by their government, and is likely to do bodily harm to the person who borrowed the money if they fail to pay or default on the loan. You do NOT want to borrow money from the wrong person, or you (and possibly your family) could end up in harm’s way.
How To Find A Loan Shark Immediately
If you need a loan super fast and want to truly know how to find a loan shark, then you should stay away from unlicensed loan sharks. There are financial institutions that are able to give you loans up to $2,500 per loan, and normally these financial companies are referred to as loan sharks. The reason they are referred to as loan sharks is because of the high APR they charge. It’s important also that you begin repaying the loan back plus some when it comes time. A lot of borrowers end up getting behind on their payments, and therefore the interest payments force them to completely default on the loan.
The options that we recommend for you, as a bad credit borrower, are to learn how to find a loan shark – a licensed one, if you have something of value, you can use that as collateral in order to get the loan you need, or if you have an extra vehicle or boat laying around, you can go to a used car dealer, pawn shop, or title lender and ask for an auto title loan. You can usually get the value of the item your using as collateral, and as long as you pay the loan back, you can get your item back without any questions asked whatsoever.
There have been instances of people who try and get 2-3 payday loans in order to get the loan amount they need and some of these people have been successful at doing so. The principal payment on top the the sky high interest would likely make it impossible to ever completely pay back the loan though.