What can I do if approached by a loan shark?

[deltamelsh]

Was looking for a loan and one contacted me. Should I borrow or not?

[MarkRae]

No.

Interesting first post, BTW...

[bednobs]

does the title "loan shark" not give the answer away??

[squarebear]

I wouldn't. It's just going to get you deeper in trouble.

Would you rather deal with a reputable company or someone who might send the boys round to collect the payments with a baseball bat?

[paddywak]

Only if you want to be in serious debt for the rest of you life, I mean have you seen the interest rates.

[dotty.]

you could get your mate to post a link to a 'reputable' loan shark though, in a minute or two

[dotty.]

oh sorry no that would be on the bornyesterday site not answerbank

[squarebear]

<---- gets ready with the delete button.

[sadielady]

NO!!!! Stay clear!

[VHG]

Contrary to what the other say I think it is good idea.

You meet the guy down a dark alley and he gives you the money in a brown envelope.

No mention is made of interest rates and all of a sudden you find you owe him far more than you borrowed.

You cant afford to pay it back and he comes round your house and threatens you and the kids.

Then you find you car has been vandalized.

Then one of your kids is mugged by one of his mates in the street to "frighten" him.

Then you get beaten up down a dark alley.

Then eventaully you have to borrow more money of ANOTHER loan shark to pay back the first loan shark, and the cycle starts all over again.

Whats wrong with that?

[BillSharpe]

I had a demand for repayment of a loan from a loan shark once and I had not even borrowed any money.
I reported him to the council / police and did not hear any more.

[factor-fiction]

;)

[woofgang]

busy boy today......

[deltamelsh]

(at) MarkRae

Thanks (I think). Sorry if my first post is weird. :-/

[deltamelsh]

@bednobs

I was hoping someone could tell me how to report them or something...

[deltamelsh]

@squarebear Dealing with a reputable company. So many people out there choose the latter, however.

[bednobs]

Then why did you ask if you should borrow? Why not just ask how to report them?

[deltamelsh]

@paddywak - Yeah, I think Wonga charges over 4,000% or higher last I checked. It's crazy.

[deltamelsh]

@bednobs - b/c I wanted to get people's general consensus on the subject. I hope that's ok.

[deltamelsh]

@dotty. - LOL. Your answer is remarkably similar to what I would envision Sheldon saying.

[bednobs]

whatever you want to ask is ok. However, if you want answers on how to report a loan shark, it's probably best to ask "how do i report a loan shark" rather than (for example) "how long do i cook broad beans for"