Shopping on line can be easy, simple and save you lots of money. It can also take a lot of your time, frustrate you, and result in unwanted purchases. Now the same can be said for regular high street shopping, but with the vast opportunity presented by the Internet it will pay you to spend a few minutes reading this and understanding how to better optimize your Loan Shark shopping experience:
1. Compare - without doubt the biggest advantage that the Loan Shark offers shoppers today is the ability to compare thousands of Loan Shark at a time. This is a great thing, but not necessarily all the time! Too much can be daunting at times so take advantage of the great comparison sites and where possible let them do the hard work for you.
2. Research - if it has been said it will be on the internet. Ignorance is no longer a justifiable reason for buying the wrong thing. Take the time to research in detail everything that you could possible want to know about
3. Testimonials - don't know anybody that has bought a Loan Shark? Wrong! If the Loan Shark is good the internet will let you know. Use the Internet as a friend and get testimonials before you buy.
4. Questions - Got a question about Loan Shark then search the Forums, FAQ's, Blogs etc. Don't be afraid to ask .....
5. Reputation - Never heard of the company selling Loan Shark? Don't worry, no reason why you should know every company in the world, but you know someone that does! Use the internet to find out what people are saying about Loan Shark and build up a picture of their reputation for sales, returns, customer service, delivery etc.
6. Returns - still worried that even after all of the above your Loan Shark wont be what you want? Check out the returns policy. There is so much competition now that someone, somewhere is bound to offer the terms that you are comfortable with.
7. Feedback - happy with your Loan Shark then let people know, after all you are depending on others people input in your buying decision, so why not give a little back.
8. Security - check for the yellow padlock on the Loan Shark site before you buy, and the s after http:/ /i.e. https:// = a secure site
9. Contact - got a question about Loan Shark, or want to leave a comment then check out the sites contact page. Reputable companies have them and respond.
10. Payment - ready to pay for your Loan Shark, then use your credit card or PayPal! Be aware of companies that don't accept them, there may be genuine reasons but given the huge amount of choice you have when buying online there is no reason at all not to buy via credit card or PayPal.
A
loan shark is a person or body that offers law
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.
In much of history, usury laws made loan sharks commonplace. Many
moneylenders skirted between legal and extra-legal activity. In the western world in recent years, loan sharks have been a feature of the
organized crime, but otherwise rare. Loan sharks are common in
Triad society in Hong Kong.
There are many registered and legal lenders that lend to people who cannot get loans from the most mainstream lenders, such as large banks. They often operate in cash, whereas mainstream lenders increasingly operate only electronically, which means that they will not deal with people who do not have a bank account. Terms such as subprime lending and "non-standard consumer credit" are used for this type of lender.
Payday loans are one example of this type of
consumer finance. The availability of these products has made true loan sharks rarer, though some authorised lenders have been accused of behaving in an exploitative manner.
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.
Yamikinyu in Japan
The regulation of moneylenders is typically much looser than that of banks. In Japan, Moneylending Control Law requires only registration in each Prefectures of Japan. In
Japan, as the decade-long depression lingers, banks are reluctant to spare money and regulation becomes tighter, illegal moneylending has become a social issue. Illegal moneylenders typically charge an interest of 30 or 50 percent in 10 days (in Japanese, these are called "to-san" ('to' meaning ten and 'san' meaning three) or "to-go" ('to' meaning ten and 'go' meaning five)), which is well over 1,000,000 percent per annum. This is against the law that sets the maximum interest rate at 29.2 percent. They usually do business with those who cannot get more money from banks, legitimate consumer loans, or credit cards.
Ah Long in Malaysia and Singapore
Ah Long (derived from Chinese word "Dragon" (Chinese: 阿龍) or short for the Cantonese phrase "tai yee loong", 大耳窿) is a term for illegal
loan sharks in Malaysia and
Singapore. They lend money to people who are unable to obtain loans from banks or other legal sources, mostly targeting habitual gamblers. They charge a very high interest rate (about 40% per month/2weeks ( to be checked)) and frequently threaten
violence (and administer it) towards those who fail to pay in time. Don’t borrow from loan sharks Factory emptied, so loan sharks beat up owner
Many years ago, prior to the registration of mobile phone numbers in Malaysia, Ah Longs advertise their services merely by distributing their calling cards.
Red paint
When a person fails to pay in time, the Ah Long will spray, splash, or write in red paint on the walls of the house or property of that person as a threat of violence and to shame the borrower into repaying the loan. According to local police authorities, there have been cases where borrowers were beaten or had their property damaged or destroyed, and some victims have committed suicide.
References
External links
- The money hole — an article about the loan shark problem in Japan.
de:Kredithaipt:Agiotaja:闇金融zh:高利貸
A
loan shark is a person or body that offers
law 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.
In much of history,
usury laws made loan sharks commonplace. Many
moneylenders skirted between legal and extra-legal activity. In the western world in recent years, loan sharks have been a feature of the
organized crime, but otherwise rare. Loan sharks are common in
Triad society in
Hong Kong.
There are many registered and legal lenders that lend to people who cannot get loans from the most mainstream lenders, such as large banks. They often operate in cash, whereas mainstream lenders increasingly operate only electronically, which means that they will not deal with people who do not have a bank account. Terms such as subprime lending and "non-standard consumer credit" are used for this type of lender. Payday loans are one example of this type of consumer finance. The availability of these products has made true loan sharks rarer, though some authorised lenders have been accused of behaving in an exploitative manner.
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.
Yamikinyu in Japan
The regulation of moneylenders is typically much looser than that of banks. In Japan, Moneylending Control Law requires only registration in each
Prefectures of Japan. In
Japan, as the decade-long depression lingers, banks are reluctant to spare money and regulation becomes tighter, illegal moneylending has become a social issue. Illegal moneylenders typically charge an interest of 30 or 50 percent in 10 days (in Japanese, these are called "to-san" ('to' meaning ten and 'san' meaning three) or "to-go" ('to' meaning ten and 'go' meaning five)), which is well over 1,000,000 percent per annum. This is against the law that sets the maximum interest rate at 29.2 percent. They usually do business with those who cannot get more money from banks, legitimate consumer loans, or credit cards.
Ah Long in Malaysia and Singapore
Ah Long (derived from Chinese word "Dragon" (Chinese: 阿龍) or short for the Cantonese phrase "tai yee loong", 大耳窿) is a term for illegal
loan sharks in
Malaysia and Singapore. They lend money to people who are unable to obtain loans from banks or other legal sources, mostly targeting habitual gamblers. They charge a very high interest rate (about 40% per month/2weeks ( to be checked)) and frequently threaten
violence (and administer it) towards those who fail to pay in time. Don’t borrow from loan sharks Factory emptied, so loan sharks beat up owner
Many years ago, prior to the registration of mobile phone numbers in Malaysia, Ah Longs advertise their services merely by distributing their calling cards.
Red paint
When a person fails to pay in time, the Ah Long will spray, splash, or write in red paint on the walls of the house or property of that person as a threat of violence and to shame the borrower into repaying the loan. According to local police authorities, there have been cases where borrowers were beaten or had their property damaged or destroyed, and some victims have committed suicide.
References
External links
- The money hole — an article about the loan shark problem in Japan.
de:Kredithaipt:Agiota
ja:闇金融zh:高利貸
