Loan sharks

Loan sharks are individuals or organizations that lend money at extremely high-interest rates, often without proper licensing. They typically target vulnerable individuals who may struggle to access traditional financial services. Loan sharks often use intimidation or threats to ensure repayment, making their practices illegal and exploitative. Borrowers may find themselves trapped in a cycle of debt, as the accumulating interest can become unmanageable. It’s essential to seek legitimate financial help or affordable lending options to avoid falling victim to these predatory lending practices.