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A loan shark is a person or entity that charges borrowers interest above an established legal rate.
The meaning of LOAN-SHARKING is the practice of lending money at exorbitant rates of interest.
A loan shark is a person who offers loans at extremely high interest rates, has strict terms of collection upon failure, and generally operates outside the law. Because loan sharks operating illegally cannot reasonably expect to be able to use the legal system to collect such debts, they often resort to enforcing repayment by blackmail and threats of violence.
Loan sharking refers to predatory lending practices by individuals or organizations (aka loan sharks) that charge extraordinarily-high interest rates. How do Loan Sharks Work? Loan sharking involves taking advantage of the borrower's weak credit or collateral condition.
Loan Shark. A person who lends money in exchange for its repayment at an interest rate that exceeds the percentage approved by law and who uses intimidating methods or threats of force in order to obtain repayment. In most jurisdictions Usury laws regulate the charging of interest rates. Loan sharking violates these laws, and in many states it is punishable as a criminal offense.