We all go through situations where there is a lack of money to pay debts or even basic expenses, such as food, electricity, and water. mondiplomatic.com has more notes
However, not everyone can borrow from family members or use their credit card to help in these moments and thus end up resorting to loan sharks. But this practice is the worst solution to get out of the red, as it is a crime!
To better understand why you shouldn’t take money from a loan shark, read the following article:
Moneylendering is a crime
First, loan sharking is a crime! By taking money from loan sharks you will be the victim of a crime and indirectly, supporting illicit practices.
Many people do not know this, but according to the National Financial System, the act of lending money without prior authorization from the competent body, the Good Finance, as provided for in Article 7 of Law 7,492 / 86. This offense carries a penalty of 2 to 8 years in prison and a fine.
Moneylenders charge unfair and irregular interest
The fees charged by loan sharks are extremely unfair and irregular since they are not authorized by regulatory bodies to lend money. They claim far beyond the interest ceiling that is allowed to be charged by law, so it is characterized as a crime that deceives the consumer.
First of all, remember that loan sharking is a scam, so they charge a high price to be able to get rich at the expense of those who are negative or with a low score on Serasa. What happens most of the time is that the person needs money urgently and unfortunately, ends up accepting their “rules”.
Not to mention when a deposit is charged in advance, as a kind of signal and so, indirectly supporting the crime of loan sharking and even that of fraud.
Ask for your assets as collateral
Always be suspicious of offers that at first offer numerous advantages, but do not generate any kind of commitment between you and the creditor. Do not charge proof of income, do not consult with consumer protection agencies and do not ask for any documents are some of the examples of scams.
All this facility has a high cost for you, which is the order of goods as a guarantee. If you have a car, house, jewelry and higher-value goods, be aware that they will certainly be asked for as a guarantee on the condition of “reducing” the interest rate, or even asking for a deposit in advance.
Don’t fall for it! These guarantees are often much greater than the loan application itself and if something goes wrong you will be forced to comply with the promise, you will not be able to turn to Good Finance to help you.
As already mentioned, loan sharks act outside the law and therefore the collection methods used by them also tend to break the law.
Physical and psychological violence, threats, persecution, and exposure of the person’s life are some of the practices done to charge the debtor. Therefore, it is clear that fear is always their main work tool, forcing you to do what they want and discouraging you from going to the police.
Did you realize how dangerous it is to get involved in this practice and how taking loans from a loan shark can bring you several losses, such as supporting crime for example?
Request a personal or business loan from a serious financial institution, regulated by Good Finance and with more than 20 years of experience.