It is illegal to borrow money from a loan shark and if you get a loan from them, you are putting yourself at risk of violence and making your debt grows like a mushroom in short period of time.
articles.webraydian.com/article1206-Loan_Sharks_Are_Ill... articles.webraydian.com/article1206-Loan_Sharks_Are_Illegal_Money_LendersKnow_The_Catches_of_Using_Their_Money.html
If a lender isn't listed as having a current licence, don't borrow money from them ... If you have borrowed money from a loan shark you are under no legal obligation to repay the debt. You should contact your local Trading Standards office immediately. They will help you deal with your situation and the loan shark.
www.direct.gov.uk/en/MoneyTaxAndBenefits/ManagingDebt/D... www.direct.gov.uk/en/MoneyTaxAndBenefits/ManagingDebt/DebtsAndArrears/DG_10035958
Loan shark - Wikipedia, the free encyclopedia
A loan shark is a person or body that offers unsecured loans at high interest rates to individuals, often backed by blackmail or threats of violence. Throughout history, usury laws made loan sharks ...
en.wikipedia.org/wiki/Loan_shark
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Nov 17, 2009 ... The point is, the reason why they had to borrow money from loan shark is because they we're the last resort for them to borrow money, ...
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If a lender isn't listed as having a current licence, don't borrow money from them. ... You should report any such activity relating to money lending to the IMLT on 0300 1234 247 or call Consumer Direct South West on 08454 040506, and call the Police if the loan shark threatens you or uses violence.
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