noun A person who lends money in exchange for personal property as security
A loan shark is a person or entity that offers loans at extremely high interest rates, often using threats or violence to enforce repayment.
Loan sharks are often associated with illegal lending practices and predatory behavior.
The presence of loan sharks in a market can indicate a lack of access to traditional financial services or regulatory oversight.
Regulatory agencies work to combat loan shark activity and protect consumers from exploitative lending practices.
A loan shark may be portrayed in a novel or screenplay as a villainous character who preys on vulnerable individuals by offering them high-interest loans with unreasonable terms.
A psychologist may encounter patients who have fallen victim to loan sharks and are experiencing mental health issues as a result of the financial strain and stress caused by dealing with them.
A lawyer may be involved in cases where clients have borrowed money from loan sharks and are seeking legal assistance to deal with the consequences of such transactions, such as challenging the legality of the loan terms.
Law enforcement officers may investigate and prosecute cases involving illegal lending activities carried out by loan sharks, who often operate outside the boundaries of the law.
A financial advisor may advise clients on the risks associated with borrowing money from loan sharks and recommend alternative sources of financing that are more reputable and financially sustainable.