Sharks are dangerous creatures theyll eat anything giving off a scent of blood. They move fast and can potentially tear a living being into shreds in a short period of time. Lucky for us they werent given a set of legs, therefore leaving them the only option of making due with the life forms of the sea, and humans accidentally running across them. When it comes to the lending world, there are dangerous creatures here as well, manifested in the form of an illegal organization. Theyre known as loan sharks, ruthless savages preying on debtors reeking of financial problems. Loan sharks cater to chumps that with really bad credit history, the beefheads that get denied by legitimate lenders
The former welcomes these chumps with open arms; they dont care much of the bad reputation you have with your creditors, like a mother would a child. Theyll be willing to loan you the amounts you intend to borrow, even if youd have extreme difficulty with paying it all back, or even if you were a compulsive gambler, why? Mainly because the methods they use in getting their clients to pay them back are very effective. IF you thought having your fingers broken for not paying a debt could only happen in the movies, think again. Back alley loan sharks, have worked hard through the years to establish a reputation like that.
When there done with you fingers, and you still havent paid them back, theyll probably implement other methods, such as using blunt force trauma to break your legs. When faced with debt problems, these loan sharks are the last guys you wanna see, coz the loan interest rates they charge and the terms and conditions you agree to are ludicrous. These terds usually charge an interest rate of up to 1.5% per day, which is ridiculous. As for their terms, well you probably got enough clues from the discussion above as to what they are. Some may be attracted to borrowing money from them because the cash can be given right then and there.
These goofballs think if I pay them back right away, it wont be much of a problem wrong again. Loan sharks intend to make big bucks off each and every client of theirs, so as to get the better end of the deal, theyll actually charge you up to 6 months interest for early payment; clever arent they? So as you can see, dealing with loan sharks can only end badly for you, whether you settle as soon as possible, pay on time, and worse; pay late. A friendly word of advice: avoid these idiots. Dont even think about dealing with them, and if you already have, pay what you owe in full before things get out of hand.
Coming up with the sum of cash you owe can be difficult, but extremely necessary. Consider borrowing money from relatives and friends, and then make amends with the people you borrowed from after you get the suckers off your back. Once you get out of their grip, dont ever make a deal with them again. There are plenty of online lenders
that can cater to your situation, so try looking them up at google or something. Remember: its always better to be harassed with letters and phone calls than scare tactics and baseball bats.
About the author
The author of this article Rick Goldfeller is a successful underground Financial Analyst who has been advising and coaching individuals for many years. Rick recently published a book on how to manage your money and attract Wealth and Financial Freedom. More info on his Finance Planning course is available at http://www.SaveWhileYouSpend.com.