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How do you find a loan shark?

13 replies

needadviceplease · 10/10/2005 14:53

I am just wondering, as they obviously don't advertise, how do you come across a loan shark and how does the agreement work?

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otto · 10/10/2005 14:55

Why do you want to find a loanshark? They do advertise in the back of newspapers. The adverts usually offer to consolidate all your loans, or something like that

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needadviceplease · 10/10/2005 14:57

no, i mean a guy who loans his own money and comes to your house to collect it?
surely the ads are somewhat established companies which is a different matter. Or is the 'neighbourhood loan shark' just a myth?

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WigWamBam · 10/10/2005 14:58

Keep away from loan sharks. You will end up paying back many, many more times what you actually borrowed, if you ever manage to pay it back at all.

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Fangache · 10/10/2005 15:00

NAP - I think its illegal!! Do NOT go down that road.... it isn't worth it. How will you afford to pay it back?????
GO TO THE HOUSEING AND DECLARE YOURSELF HOMELESS! Just ask your FIL to give you and eviction notice in writing.

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needadviceplease · 10/10/2005 15:05

fangache..we cannot be moving..my mum had her children at 36 weeks..all 4 of us so the baby could be due imminently. we really ned to dstay here just until then, and then we can move asap.
plus they told us as the landlord is family, and dh is in full time work we wouldn't be a priority case and could have a 6 month wait.

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Fangache · 10/10/2005 15:06

NAP - When will you be able to pay?????

Why don't you just NOT pay it? He can't physically throw you out! Surely pissing him off is better than getting Loan Sharks involved. That could get very nasty and is very dangerous.

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needadviceplease · 10/10/2005 15:10

we can pay him at the end of the month..but that is no good to him. I know he cannot throw us out without big legal fuss but we really want to avoid that. if we can just get the money we need in the short term it will be a huge relief.

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Fangache · 10/10/2005 15:13

NAP - Not through a loan shark though. It might fix the problem NOW, but do you really want to be facing the wrath of a Loan shark turning up at your door when you've just arrived home with a new baby?? I don't think you are thinking clearly just now!! What does your DH want to do?

Just tell FIL from hell that he's getting it at the end of the month and then don't answer the phone after that!

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ScarySkribble · 10/10/2005 22:28

Loan sharks are not called that for nothing, they will decide the agreement and this will change whenaver they fancy as will your interest rate, Borrow £100 and before you know it it's £1000 then £10000. You think that will never happen to you but it will!!!!!!!!!!

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Tortington · 11/10/2005 02:02

listen to fangache.

not sure what your situation is but its better to piss off FIL than it is to pay back a lot of money.

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execsservice · 01/11/2022 12:26

This reply has been deleted

Message deleted by MNHQ. Here's a link to our Talk Guidelines.

Kezza3108 · 25/06/2023 18:17

needadviceplease · 10/10/2005 14:53

I am just wondering, as they obviously don't advertise, how do you come across a loan shark and how does the agreement work?

I am in need of a small loan but I have low credit score and I receive disability benefits. But would be able to pay back the monthly payments as I recieve approximately 12,00 pounds a month on benefits. So pls can I get help somewhere. Thank you