mazziatplay
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A loan shark is any originator who sells rate over service, who swears that they can do any loan, who takes advantage of uninformed borrowers, who has questionable ethics, and who usually isn't in the business very long. |
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spice g
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a person that loans you money with ridiculous interest...and if you don't pay up on time...they break ur legs |
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Spider Pig
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Its a street thug who loans you a large sum of money and expect to get it back in some amount of time for a hefty interest profit. If you don't return all of it back in time, your rates keep on increasing. If you dont' pay them back reasonably, they'll kill you. |
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davelennv
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A loan shark is a person who will gladly loan you money, with no credit check, collateral, etc.
Sounds good doesnt it?
The problem though is he charges you huge amounts of intrest.
If you do not pay him, he will usually resort to physical threats and/or violence. |
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$Sun King$
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A loan shark is someone who lends money at an illegal and exorbitant level of interest.
Payday loan operations have also come under fire for charging inflated "service charges" for the service of cashing a "payday advance" — effectively a short-term (no more than one or two weeks) loan for which charges may run 3-5% of the principal amount. By claiming to be charging for the 'service' of cashing a paycheck, instead of merely charging interest for a short-term loan, laws which strictly regulate moneylending costs can be effectively bypassed.
http://en.wikipedia.org/wiki/Loan_shark |
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Casey
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Someone you borrow money from and if you don't pay it back they come and hurt you, sometimes they kill. So yeh, anyone would be better off borrowing from a bank. |
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rkrause03
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someone who loans you money at outrageous interest rates. these interest rates are over and beyond your lending instutional rates, and it is illegal to loan money and these higher rates |
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DebtFree
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payday loan lenders could be classified as that... they loan you money at very high rates... 300%...
http://en.wikipedia.org/wiki/Loan_shark |
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bm4huskers
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A loan shark is a person or body that offers illegal unsecured loans at high interest rates to individuals, often backed by blackmail or threats of violence. They provide credit to those who are not willing or are unable to obtain it from more respectable sources, usually because interest rates commensurate with the perceived risk are illegal. |
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Cali Girl
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Some one who charges more than the legal rate for a cash loan. |
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xyz
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Most banks |
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