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:
“Slight was the thing I bought,
Small was the debt I thought,
Poor was the loan at best—
God! but the interest!”
—Paul Laurence Dunbar (1872–1906)
“They will tell you tough stories of sharks all over the Cape, which I do not presume to doubt utterly,—how they will sometimes upset a boat, or tear it in pieces, to get at the man in it. I can easily believe in the undertow, but I have no doubt that one shark in a dozen years is enough to keep up the reputation of a beach a hundred miles long.”
—Henry David Thoreau (1817–1862)