UK Loan Sharks
The research by the government and other agencies estimates that 165,000 to 200,000 people are indebted to loan sharks in the United Kingdom. Loan sharking is treated as a high-level crime by law enforcement, due to its links to organized crime and the serious violence involved. That said, payday loans with high interest rates are legal in many cases, and have been described as "legal loan sharking". Campaign group Debt on our Doorstep was launched in 1999.
Read more about this topic: Loan Shark
Famous quotes containing the words loan and/or sharks:
“... the ... thing I am proudest of in my whole business life is that I do not take, that I never took in all my life, and never, never! will take, one single penny more than 6% on any loan or any contract.”
—Hetty Green (1834–1916)
“Nobody had ever instructed him that a slave-ship, with a procession of expectant sharks in its wake, is a missionary institution, by which closely-packed heathen are brought over to enjoy the light of the Gospel.”
—Harriet Beecher Stowe (1811–1896)