Usually, you pay a higher interest rate, but the benefit is that you can get a loan quickly, even with bad credit. The A.V. The interest rates that are used are illegally high. If you don't like a particular user's posts, consider blocking (from their profile page) instead. A loan shark is a criminal who lends money at illegally high interest rates. They are unlikely to break your ribs if you can't make a payment, but they will happily send a bailiff in to take your possessions if need be. News Night's top story for Wednesday (Dec 30) - a Singapore Airlines pilot who initially tested negative for Covid-19 upon returning to Singapore … Stop being a predator, use your intelligence and hustle to do something good for yourself without fucking other people over. See more ideas about loan shark, clothes design, outfit accessories. I don't, a contract is not legally binding if the person is impaired. Info. The loan is interest free, whereas with a bank over 30 years they’d probably pay $25k in interest. Ill try to answer all questions without giving out my identity. A district court heard that Filipino Pleo Sherwin Cubos, 40, retrieved the information for the loan shark, who is known only as Alan, despite knowing that … As the end of the month approaches, you pawn some jewellery, sell your TV and pay him back. He now has you as a customer and will regularly call around and make some tempting offers. ‍♂️ because the Cheeto said so . They might frame this as you borrowing $200 now, and repaying them $250 at the end of the month. Do you still do a deal if they are drunk or high? Our lender charge you less interest rate than traditional loan shark. My best friends father just opened a business, along the way he seems to have become involved with a loan shark to fund the business and get it off the ground. Instead of collateral, uses violence and the threat of violence to ensure repayment. Unclear Loan Terms. Did the urgency of his situation show? According to reports from state media, loan sharks in China have demanded that women provide naked photos of themselves as collateral for lending agreements. How To Find A Loan Shark Reddit No Obligation Fees. Do you mainly do business in that language or English? Reddit; Live updates. Reddit gives you the best of the internet in one place. He also played gwent, using the monsters deck. Loan shark paid Bt2,500 to have man killed, say police Phang Nga police today charged a loan shark with masterminding a murder by paying just Bt2,500 (US$ 80) to have a woman killed. Press question mark to learn the rest of the keyboard shortcuts. No this is a payday loan/title loan place, not a pawn shop. Article content. You said you were doing this in Asia, so I assume you are bilingual. This is not entrepreneurship, this is opportunistically taking advantage of idiots in a bad situation. With life twisted enough to drive him crazy, Sang Tae is forced to run away at night to get away from a loan shark chasing him. Some loan sharks will threaten you by saying you will be prosecuted and even sent to prison if you don’t pay up. Take a second job for three to six months and live on rice and beans. When you are unable to pay, not only does the original amount increase by 25% a month, but so does the interest outstanding on it. By using our Services or clicking I agree, you agree to our use of cookies. A perfect example is the college/student loan … Here you will find out if the car is car is stolen or encumbered which is a big no no to me. In fact, you're $100 short. I'd say about half of the people don't pay back which is a good thing for me since i double my money by simply short selling the collateral. This goes both ways here sometimes the shark does it sometimes the client. Typical FIRE methods include landing a high-paying job in your early 20s or … Loan Money to a Start-Up Business Similarly to peer-to-peer lending, there are a number of new websites that have popped up that offer peer-to-business lending. Since this is usually illegal (most places have laws against usury, or charging excessive interest), loan sharks tend to be shady characters who will go right ahead and make your life a living hell until you pay them back. After you collected the money you now pay the one who refered you if its a 2% a day deal they get 1% if its a 20% deal they get 5%. In the UK there is a plethora of legal "pay day lenders" who will happily lend you money until pay day on interest rates ranging from 800% to 2000%, and another layer of "poor credit lenders" who will lend larger sums of money over longer periods at rates like 60% or so. However, the loan shark, who is the lender of the loans, uses an illegal method of charging high interest on the unsecured loan. 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Follow @ redditwanderers for funny things and things prison if you do n't plan on doing it for a free., so you agree actually worth `` I respect the hustle, '' etc being a,!