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Loan shark who demands 50% interest says he’s an ’emergency service’
A loan shark who demands 50 per cent interest on payments has claimed he’s an ’emergency service’ for payday loan cash advance families and has used violence to get money back – as figures show 3.3million Brits used illegal lenders in last three years.
The lender – who demands 50 per cent interest on the money he doles out – said that all of his victims have paid up in a chilling interview as he admitted to making ‘physical contact’ those who haven’t been able to do so immediately.
It comes amid a spike in the criminal activity – with a third of Brits are said to have used one to pay their bills.
‘The people that I lend money to, online loans no credit check they can’t go through the normal route,’ an active loan shark, disguised in a face-scarf and loans online no credit check tinted sunglasses, told Good Morning Britain.
‘So you borrow £1,000 off me, you pay back £1,500. I think of myself almost like an emergency service. People come to me when they’re desperate.’
The lender (pictured) – who demands 50 per cent interest on the money he doles out – said that all of his victims have paid up in a chilling interview
Bank of Dave hero Dave Fishwick (pictured), who had interviewed the loan shark, slammed the man as ‘just wrong’
He continued: ‘I don’t get up in the morning and think today I’m going to do this, I might get caught.
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