Loan Shark

Loan shark is lender who charges borrowers interest above an established legal rate. Depending on where a person lives, lenders typically cannot charge more than a certain rate of interest per annum. A loan shark, then, would be someone who illegally charged interest over the state’s legal limit, which could range up to, or even over, 100%.

In addition to the traditional tactics such as putting debtors in a cage, splashing their houses in red paint or breaking their limbs, loan shark also employed beautiful woman to shame debtor into paying.
Due to extremely high rate of interest charges, you should avoid taking loan from loan shark at all cost.

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