Loan Shark

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Definition of 'Loan Shark'

A loan shark is a person or organization that lends money at very high interest rates, often to people who are desperate for cash and have no other options. Loan sharks often operate outside of the law, and they can be very dangerous.

Loan sharks typically target people who are in financial trouble, such as those who have lost their jobs or who are struggling to make ends meet. They may offer loans to these people at very attractive interest rates, but the terms of the loans are often very harsh. Loan sharks may charge exorbitant interest rates, and they may also require borrowers to make payments in cash. If a borrower is unable to make a payment, the loan shark may threaten them with violence or other retaliation.

Loan sharks can be very dangerous, and they have been known to use violence, intimidation, and even murder to collect their debts. In some cases, loan sharks have been known to target children and other vulnerable people.

If you are considering borrowing money from a loan shark, you should be aware of the risks involved. Loan sharks are not regulated by the government, and they may not be held accountable for their actions. You could end up losing your money, your possessions, or even your life.

If you need to borrow money, there are many legitimate lenders available. You should always compare interest rates and terms before you borrow money, and you should never borrow money from someone you don't know or trust.

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