With that in mind, we are pleased to announce the top 5 posts of all time on our site:

90 Day Loans

How To Consolidate Debt

How To Find A Loan Shark

Update: Trust Licensed Loan Sharks Only

Ok, so we added a few more posts These additional posts were ranked very high in pageviews as well. We hope that you enjoyed them, and we also hope that we can bring you even better content in the months to come.

Our Most Popular Posts Of All Time

Understand what a loan shark does.

If you have never dealt with a loan shark, then you probably have no idea what they involve. Generally a loan shark is an entity who is unlicensed, but still tries to lend money to individuals. Loans sharks are called loan sharks for a reason and they will find a way to make you pay for the money you are borrowing.

Ways to spot a loan shark.
Now that you understand what a loan shark is you can find ways to avoid their presence. Pay attention to the details of the situation and make sure their behavior makes sense. For example, the situation could be going well, but then it turns ugly fast. Refusing information to you is also another sign that the loan shark is doing something illegal. Make sure you keep an eye on the interest rates and the other fees that are included. A lender should never refuse to show you his or her lending license. If they do refuse, then they are most likely a loan shark that does not want to be found out.

Don’t believe the threats.
If you have already taken out a loan with a loan shark, then it’s imperative that you take action now. Legal action is important if you want to do something about the criminals. The chances are that these sharks are getting others to take out their loans as well. The faster you report the loan sharks then the better off everyone will be. Do not believe anything the loan shark says because they are operating illegally and they have no grounds for what they say. Prosecution, jail time and other charges cannot be brought upon you because there are no legal statements. Some people who are victims of loan sharks still feel it’s necessary to get a lawyer.

Reporting a loan shark.
Reporting a loan shark is a lot easier than one might think. There is a special government agency that deals with loan sharks and their actions against humanity. It’s important to catch these criminals as soon as possible because it’s a high rate of crime that affects lives greatly. The only catch to reporting a loan shark is finding the correct way to report it in your country or state of citizenship. Some countries have you report it to the federal government and other countries have you meet with a detective. In some circumstances, you may be forced to take the criminal to court with a lawyer.

The bottom line is that you can avoid a loan shark by making sure they are licensed. Licensed loan entities cannot practice wrongful loan services. It’s also obvious that is one of the reasons as to why loan sharks exist. Understand what loan sharks are out to get from you, so that you can be prepared to fight for your rights as a loan recipient.

How to Avoid and Report Illegal Loan Sharks

Apparently, she loaned the money out at the rate in which the bank charges, so she didn’t make any direct money. Richard Rapoza is a spokesperson for Hanabusa’s campaign. He also went onto say that all money is being paid back to the bank and the total amount the campaign paid on the loan itself just in interested was $31,000. The Citizens for Responsibility and Ethics in Washington, which is also known as CREW, is said to have the whole situation wrong.

CREW referred to Hanabusa as a loan shark and she has taken the comment to heart and went to defend herself. The executive director is the one who made the direct comment that resulted in Hanabusa making a response back to the Washington based group.
The report from CREW was not made to just this individual, but it was a report made specifically about people in politics who may take advantage of their positions. Sloan stated that Hanabusa is making a TON of money on the original loan she loaned out while she was on her campaign.

Rapoza the spokesperson went on to say that every payment that has been made is written down and they have proof in every corner. He also went onto say that for someone to assume that Hanabusa is making a ton of money off of the original loan is insulting. According to each report, the money that was loaned to the campaign is being paid back and every expense that Hanabusa or her husband used has been documented. Hanabusa has made these comments in response to being called a “loan shark.”

Hanabusa’s Response To Being Called A Loan Shark

This new move by the Illegal Money Lending Team will help create ways to stop unlicensed loan sharks from preying on victims who are in emergency financial need. The money accumulated from these illegal lenders, can actually be bid on my local charities and organizations. The residents will have a say as to how the money is spent, however, the money must be spent on improving their neighborhoods, and finding creative ways to rid the community of loan sharks.

People, businesses, and organizations have until May 25 to apply for the money which must be spent on projects to help those in need understand the dangers of obtaining loans from a loan shark, or as we stated above, to find legal alternative loan sources that actually help people, and not charge exorbitant interest fees.

Sarah Dixon, 34, was recently arrested for illegal lending and has since been instructed by the courts to pay back £20,049. She will be spending a lengthy stay in jail for her crimes–a total of 3 years and nine months after pleading guilty to eight charges of illegal money lending.

If you are interested in applying for the money confiscated from loan sharks, please email catherine.wohlers@birmingham.gov.uk or call 07500 809 339.

If you, or someone you know, is being threatened by a loan shark, please contact www.oft.gov.uk/

Profits From Loan Sharks Returned To The Community of Birmingham

Don’t get us wrong: credit repair is completely possible IF you go about it the right way and avoid getting scammed. In fact, credit repair can closely be tied into debt consolidation, whereas the majority of your debt is aggregated into one monthly payment, versus paying multiple creditors. Also, with debt consolidation, you are in a position to negotiate with the lenders in order to bring your payments down by a certain percentage. For the most part, you can hire a debt consolidation company to do this for you, but truthfully, it can all be done by you if you have the patience and determination to make it happen. No matter what anyone would have you believe, credit repair and debt consolidation, is not something that can happen overnight and make it so that your credit file is perfect again. Therefore, repairing your credit can easily be done by following the rules of debt consolidation. Here’s what to look out for when credit repair companies try to scam you out of your money.

Illegally Using An EIN Number

Many credit repair companies would have you believe that you can obtain a brand-new identity by requesting an EIN number from the IRS. Your Social Security number is a number that the IRS, employers, and creditors use in order to keep track of you financially. This Social Security number in most cases, cannot to be changed legally. Therefore, many scam credit repair companies are claiming that if you have ruined your credit, that you can easily obtain a new identity by requesting an EIN. What’s an EIN? This is a number that businesses use to identify themselves to the IRS and creditors. It stands for employer identification number. What these credit repair scam companies fail to tell you, however, is that it is a federal offense to apply for an EIN for personal uses. In fact, is a federal crime to apply for credit with an EIN in the pretense that you are using it for personal uses. If you have a legitimate business, then you have every right to use this number. Keep in mind, however, that while you, as a business owner, may have an EIN number, that the majority of creditors and banks will ask that you tie your personal credit history to the EIN number. Bottom line? If a credit repair company mentions anything like this in their services, run. In our opinion, doing your own debt consolidation

We can make your credit score jump from 350 to 780!!!

Hopefully, you sense the sarcasm here. If any credit repair companies make this claim, then you need to run the other way as fast as possible. Although it may sound tempting, 99.99% of the time it is nothing more than a scam devised to part you with your money. Follow the old adage: “If it sounds too good to be true, it usually is ”.

The fact of the matter is that the majority of credit repair companies are nothing more than scams. If you truly want to wipe out your debt and get your credit back on track, then you need to devise a financial plan in order to make that happen. Try to stop falling for loan scams, credit repair scams, and the like. Our advice is to call up each creditor debt you have and negotiate principal and interest on the loan or bill. Also, start paying off your smallest debts first– as it tends to have a snowballing effect.

Watch Out For Credit Repair Scams

Being the stealthy reporter, this lady managed to get through “security” (In the jobcentre, there are many security protocols in place to prevent
“desperate people” from bombarding the office personnel ie; locked doors that can only be opened with swipe keys, bulletproof glass separating the “destitute” from office personnel, etc)

“It’s like an airport VIP lounge, but this zone isolates the VDPs, Very Desperate People. There they sit, glimpsed through the glass, waiting, sometimes for hours, for cheques they can cash at once at the post office. No, you can’t go in without an appointment, said the man at the door. Waiting at the job search computer until another official took over, I pretended I had an appointment to collect a cheque and he swiped me in.”

After gaining access, the reporter went on to interview many people down on their luck…penniless even.

So it seems that now crisis loans are becoming a thing of the past, and with nowhere else to turn, many of these people will perhaps, unfortunately turn to illegal lenders such as loan sharks. While there are legal loan sharks, these companies still charge hefty interest rates (take Wonga for example)

Can you put yourself in the shoes of some of the people who may have been in that waiting room…waiting for a check…penniless…and then being told you’re not getting a check? Perhaps there was a single mother in that room. Perhaps she has an infant to care for, yet she can’t find a job and her husband ran off with another woman. She’s all alone. She’s not sure if she will have enough money to feed her baby through the rest of the week, much less herself. What will become of people like this when they have nowhere to turn for help?

Say Goodbye To Emergency Loans in the UK

The company is claiming to step in and be a great alternative government backed student loans, which have only an APR of around 1.5%.

While it is not a smart idea to market such high interest loans to students who are already deep in debt with student loans, it has been officially stated by Wonga, that this particular page that is marketing these types of loans to students, has been taken down.

The consensus on this story is outrage by many people condemning Wonga, for what they call immoral lending practices. These same people speak about “all of the alternatives” available to a student–or anyone in a desperate financial situation for that matter–when in reality, the only option poor people have is to obtain high APR loans and hope for the best.

Wonga is not the only company that is providing these types of loans either. It seems that everyone has jumped on the media bandwagon and and created a ‘witchhunt’. Just Google ‘student payday loans’ and you’ll see what we mean.

What are your thought on Wonga?

Loan Shark Firm Wonga Targets Students

So with so much turmoil going on in the world, how does a person dig their way out of debt? The answer may seem rudimentary and obvious, but if you stick to a simple, yet proven rule, then you can dig your way out of debt for good. The first thing that you want to do is refrain from filling out any more credit applications. If your credit score is below average, then immediately stop filling out any and all credit apps. It’s likely
that you will not get approved.

Never Borrow Money From Unethical Loan Sharks

Even though you may be in a financial emergency, it’s best that you either borrow the money from family or friends if possible. No matter how much of an emergency you feel your financial situation is, never borrow money from an illegal loan shark. These types of individuals are willing to loan out money to people with bad credit, however, they are willing to do so to keep you in debt to them for quite a long time. There have been so many instances of people becoming trapped in debt to unlicensed loan sharks and never being able to break away. People who borrowed “just” $1,000, yet had to pay 400% + interest rates. These honest people make their payments, but usually can only afford the interest…with the loan snowballing out of control. And when you fail to pay an unlicensed loan shark, things can get dangerous. This is why it is important that you stay away from these financial threats. They can ruin your life. Their are other options out there for you. We will show you these options, as well as show you how you can get out of debt within a short time. it will not be easy, but if you persevere, you will make it.

The Path To Becoming Debt Free

If you are serious about becoming debt free, then you must learn to live a frugal life for now. What does that mean? It means to forget about all material things that you feel you WANT but do not need. Focus on necessities only. Stop applying for loans (more on this in a bit). Only buy things that you NEED.

Ok?

Now, the next thing you want to do is gather all of your debts together into an excel file. The next thing you want to do is enter all of the data into the excel file, including the debtor’s information as well as the balance. Do this with all of the debts you have. Now, you can use the filter tool within Microsoft Excel to filter the debts from smallest to largest.

What we want to do here is begin paying off all of the smallest bills first and then work our way up to the larger bills. You can allocate yourself a budget to pay off your debts every month. For instance, if you can spend only $200 a month to pay these bills down, then start paying those bills off smallest to largest.

You may have 3 smaller bills. One for $50, another for $150, and the last being $50.

Do you see where we are going with this?

This will build your credit profile back up too.

It will take a bit of time in order for you to begin seeing the fruits of your effort, but if you stick with it, you will get great credit in the future and never have to worry about bad credit lenders with high APR ever again.

What About Debt Consolidation Loans?

The first step of compiling all of your debts into an excel file is better, b ut a lot of people would like a debt consolidation company to manage everything for them. This includes contacting all of the debtors and negotiating on the clients behalf. They will negotiate interest rates, principle payments and payoffs, and can even get your debt reduced by 50% or more. The debt consolidation company will also make it so you have only one small monthly payment to be paid to them, versus having to pay 50 different creditors. this makes it easy and convenient
for a lot of people who are in debt.

How To Finally Get Out Of Debt

The issue that many people have when they borrow short-term loans, is they have a problem paying the loan back. The majority of the time, the reason he or she cannot pay the loan back is because they did not have enough time to pay it back in the first place. Many payday loan companies operate on the premise that you will pay a very high APR, and also pay that loan back within 30 days. What you need to do is contact a lender who is willing to loan money to you at a low APR, and also give you ample time to pay this loan back over a certain period of time, not just 30 days.

Recently, a payday loan company by the name of QuickQuid was mentioned in an article by the Mirror. This loan company was targeting military personnel with extremely high annual percentage rates and not giving them enough time to pay the loan back. This left those people in a situation where they could not pay the loan back and ended up getting themselves deeper in debt. The annual percentage rate was also very high, which caused much debate amongst many people, and was the primary reason for the article being written. Many people are referring to these types of companies as loan sharks.

There are a lot of things that a person must watch out for when they are seeking out these kinds of loans because there are many lenders out there who are hoping that you are not looking at the terms and conditions, nor the APR that they will be charging you, nor the amount of time that you will require to pay the loan back. They are in the hopes that you will be so desperate for a loan, that you will take any offer that you are willing to take.

Even though you are in a desperate situation that you need emergency financial help, it is extremely important that you way your different options and find out what other lending alternatives you have at your disposal. This means you should compare payday loan providers rates and payback time.

We recently wrote an article about a payday lender who allows people to get a loan and it gives them 90 days to pay the loan back. This should be more than enough time to pay back a loan under $2500.

These 90 day loans can come in especially handy when you are in a situation where you need cash fast.

Just remember that when you are in need and a loan, that you need to research all available options as well as comparing different payday loan providers in order to get the best rates.

Getting The Best Rates From Lenders

These are just a few of the reasons that most people need bad credit lenders to give them a loan so that they can pay these bills off. There are many other reasons that a person would require a loan, however we will not be getting into all of these reasons or the specifics, rather we will be attempting to provide solutions to the problem, as you are likely trying to find bad credit lenders such as licensed loan sharks.

How To Get An Emergency Loan Tip #1

The first thing that you need to do, is you need to sit down and think about your financial goal. What do you need the money for? Do you really need as much money as you think you need? How soon would you be able to pay the loan off? Do you currently have any type of collateral that you will be able to use in order to secure a loan if a lender required it?

These are all questions that you need to be asking yourself because you need to have an answer for each and every question, because the lender that she will be working with what have these kinds of questions and much more.

Our general advice to you would be to seek out a payday loan with a maximum emergency loan amount equal to $2500 or less, depending on how much money you need. A lot of people only need $500 or so to take care of the debt that they currently owe, while others need much more, and in some cases require more than $2500. Our device is that if you need a loan ranging from $500-$2500, that you obtain a payday loan from a reputable company that will charge you a reasonable APR. Also you want to make sure that you have reasonable time to pay the loan off. You should find a payday loan company that will allow you to pay the loan back and give you as much time is 90 days to pay it fully back. This should give you more than enough time to pay back a loan under the maximum loan amount of $2500. Again, the majority of people only require emergency loans that range from these two amounts, but there may come a time when you may need to borrow a lot more and traditional banks will not loan you the money.

So what do you do then?

The answer to that question is you must have some type of collateral to put up for the loan otherwise, you will not be getting the loan that you seek because no one will be able to justify you as a worthy borrower and many credit towards these days want to lessen their credit risk as much is possible.

Against the advice of many industry professionals in the finance world and our own site, many people have been taking drastic measures in order to get the loan that they need. This has involved a lot of people securing more than one payday loan at a time. While it may sound like it may be beneficial to a borrower, you have to step back and think about how much debt this person is getting into because on each payday loan APR is sometimes as high as 700%. Imagine having to pay that on two loans. You would most likely track yourself into debt for a very long time, and it is possible that you will be paying nothing but interest on these loans or an extremely long time as well. Always ensure that the lender you work with is licensed. You can check at www.oft.gov.uk/ if you live in the U.K.

How To Get An Emergency Loan