Have you ever been tempted to ask for a loan with a loan shark? Even knowing that it is not the best option, people insist on resorting to this type of credit. Check out 5 reasons to escape this temptation now!
When financial unforeseen events happen, it is common for people to turn to the credit market in search of relief for a given situation. In this context, special credit and loans are the most popular options in financial institutions. However, for those who cannot get credit in the market, due to some restriction in the name, the loan with a loan shark is a more accessible resource.
However, in today’s text we are going to warn about the dangers that this type of loan offers, and list 5 reasons for you to stay well away from this easy credit option. We’ll also give tips on what to do when finances tighten! So you can’t miss it! Follow the full reading and take the opportunity to share with your friends and family.
WHAT IS A MONEYLENDER LOAN?
A loan shark is anyone who practices the habit of lending money outside the legitimate credit market, with unregulated interest rates, unauthorized by the Central Bank and without the slightest legal authorization for such practice. From there we can already conclude that this does not sound cool at all, does it not? But still, many people end up resorting to the loan with a loan shark.
This happens because this type of loan does not need all that bureaucracy that banks ask for. And because they don’t need a credit analysis, people with restrictions on their names are the loan sharks’ main customers. In turn, they offer fast cash, and depending on the guarantee, even large sums are available at once.
Despite not needing to prove income, or pass a good credit analysis, those who take this type of loan are subject to some conditions, ranging from higher interest rates to threats of pledge and even more serious measures. Therefore, it is not necessary to go into so much detail to know that this option is really cold. Still, we list 5 reasons for you to stay well away from loan sharks. Check in the next topics.
REASONS NOT TO TAKE A LOAN FROM A LOAN SHARK
To start with a very convincing reason, know that this type of loan is considered a crime. According to Law 7,492/86, as provided for in Article 7, the National Financial System considers the act of lending money without due authorization from the Central Bank to be a crime. Including this type of infraction, in addition to paying a fine, can still earn a penalty ranging from 2 to 8 years in jail.
But not only that! Another reason that makes a loan with a loan shark an option that should not be considered is the high interest rates charged. After all, since it is not regulated, not even supervised, this type of loan can reach rates of up to 100% per month. After all, loan sharks are people who take advantage of those who don’t have credit with the banks and end up exaggerating to get more profit from their customers.
The third reason to shy away from loan sharks is the type of collateral they may ask for. After all, as the loan is done without bureaucracy, the loan shark needs some guarantee that he will receive the money back. In this sense, it is often the car, or even the house that comes as collateral. In addition, if it is necessary to get to the pledge of the property given with guarantee, you will not even have where to turn, or look for rights.
DEADLINE, BILLING AND RISKS
In addition to the high interest rates, the shorter term is the fourth reason we have listed to show while this option is a cold one. Because, unlike banks and authorized institutions, loan sharks do not usually deal very well with deadlines. In practice, the deadline given is very short, and the installment conditions, many times, do not even exist, or are very limited. There is not much negotiation.
However, the greatest danger lies in the fifth reason on our list: the risk you take. Yeah, we’re all subject to unforeseen events that can delay the payments we’ve committed to, right? However, when there is a delay in a loan shark debt, there is a risk of losing assets, suffering threats, persecution and even physical violence. After all, fear is the main tool these people use to force debt repayment.
THERE ARE OTHER OPTIONS. CHECK OUT!
Since people who resort to a loan with a loan shark are usually people who have their credit denied at banks, due to some restriction in the name, or even because of the low score, we decided to highlight some options for these people to seek the credit they need. need, without having to submit to the risks of direct lending with moneylenders. Check it out!
Today, you can resort to serious companies, authorized by the Central Bank, to ask for loans without even having to go to a physical agency, which is a reason for fear for many, due to the fear of the denied analysis. Therefore, at home, via cell phone or computer, you will have access to platforms that search dozens of institutions at once, analyzing the best proposal for your profile.
In addition, in the case of negatives, there are some credit options that are approved without consultation with the SPC and Serasa. This is the case of the payroll loan, which was previously intended only for retirees, pensioners and civil servants, and now also serves employees of private companies. It is worth checking! In addition, the secured loan, whether for a vehicle or property, is also an option for those with negative credit, and also has the advantage of lower interest rates than on a personal loan.
YOUR SAFETY IS PRICELESS!
As we saw throughout the text, the loan with a loan shark, in addition to being a crime, is not a safe option for you and puts your family and your assets at risk. Therefore, at the moment of “squeeze” always look for smart and safer solutions. Investing in a business is also a way to earn extra income. Anyway, there are several options so you don’t fall into a cold one. Think about it!
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