Why loan sharks just aren’t worth the risk

There are times in life when you need to borrow money. That’s a reality for almost all of us. From mortgages, to car loans, covering unexpected payments or paying for something special, borrowing is a normal part of modern life. A huge industry has sprung up around lending, meaning that there are lots of ways to borrow what you need. However, not every loan being offered is safe we re talking about loan sharks. Unauthorised money lenders, aka Loan Sharks Many of us will recognise unauthorised money lenders better as ‘loan sharks.’ Essentially, this is someone offering to loan you money who isn’t authorised by the Financial Conduct Authority (FCA). Sometimes, borrowing like this can seem like a good idea. Inevitably there are less approval processes, the money is available quickly and often in cash. However, as many people have no found to their cost, unauthorised money lenders have a very dark side that could end up costing you thousands. The impact of loan sharks Sometimes, t
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