- Life throws you lemons and puts you in situations…more
- Financial advisors generally tell you to avoid getting personal…more
- As unfortunate as it may be, there are people…more
- At first glance, you may assume that borrowing money…more
We understand that you may feel that you have no alternatives other than using a loan shark to get money you need. This is why we created LoanSharks.com. There are alternatives to dealing with a lender that you will more than likely regret. Be sure to read our blogs for helpful information in your situation.
Why you should avoid loan sharks
- High rate of interest. Let’s face it: this is where loan sharks come out on top. They are able to charge borrowers a high rate of interest, much higher than the industry average, because they are not regulated.
- No way of knowing what the future holds. With a traditional lender, you know the finer details of your loan.
- Potentially dangerous. If you default on a bank loan, for example, you could find yourself in financial trouble. This could mean losing a particular asset. With a loan shark, your situation is much more serious.