Loan Sharking ??

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BlackHatBloom

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Hey guys

I was wondering...when people run an illegal loan sharking business, how do they secure loans? If you like give somebody 500$ and expect them to pay you 800$ in two weeks, how do you secure the loans?

Isn't that a losing model?
 
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Well.. Most times if you know the loan shark, they know you.. where you are from, your associates, friends and family, where you work and hang out. It makes it hard to escape the problem if you cannot pay so they bleed you weekly for money or hurt you or someone you know. It's not a losing model if you can avoid retaliation or prosecution.

To elaborate on bleed weekly.. some assume and sometimes hope you cannot pay the $800 back the next week, and will take a smaller amount from you week after week until there is nothing more to take.
 
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Loansharks are the lowest of scum hustlers and intimidation and beatings is all part of the 9-5...Funnily enough they dont really like dealing with guys that borrow $500 and pay back $800 theres no profit in that gig. Where they scale up is borrowing $150 to housewifes for their kids christmas presents and when they fall short of the $10 a week sub then they give her a break and borrow her another $50 which gets amalgamated into the original principle. Using this business model they collect $10-$12-$15 forever because the loan is never getting paid just the interest so they can turn $150 into $3000 all they got to do is show up on child welfare payment day.
 
BlackHatBloom said:
Hey guys

I was wondering...when people run an illegal loan sharking business, how do they secure loans? If you like give somebody 500$ and expect them to pay you 800$ in two weeks, how do you secure the loans?
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Technically, there is no security because by definition they're the illegal version of offering unsecured loans.

How is the debt recovered?

A few examples: extortion, threats of violence and intimidation.

For instance, there have been cases of loan sharks being convicted of (sexual) assault as well as being unlicensed.
 
if you need your kneecap please do not borrow money from the loan shark
 
Penha said:
Well.. Most times if you know the loan shark, they know you.. where you are from, your associates, friends and family, where you work and hang out. It makes it hard to escape the problem if you cannot pay so they bleed you weekly for money or hurt you or someone you know. It's not a losing model if you can avoid retaliation or prosecution.

To elaborate on bleed weekly.. some assume and sometimes hope you cannot pay the $800 back the next week, and will take a smaller amount from you week after week until there is nothing more to take.
Click to expand...


Duffers5000 said:
Loansharks are the lowest of scum hustlers and intimidation and beatings is all part of the 9-5...Funnily enough they dont really like dealing with guys that borrow $500 and pay back $800 theres no profit in that gig. Where they scale up is borrowing $150 to housewifes for their kids christmas presents and when they fall short of the $10 a week sub then they give her a break and borrow her another $50 which gets amalgamated into the original principle. Using this business model they collect $10-$12-$15 forever because the loan is never getting paid just the interest so they can turn $150 into $3000 all they got to do is show up on child welfare payment day.
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I spent nearly two hours with a finance professor who is a friend of mine... I could have saved a shitload of time reading your posts :D Thanks guys REP+

harry911 said:
View attachment 14962
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Says it all!

danny1 said:
Technically, there is no security because by definition they're the illegal version of offering unsecured loans.

How is the debt recovered?

A few examples: extortion, threats of violence and intimidation.

For instance, there have been cases of loan sharks being convicted of (sexual) assault as well as being unlicensed.
Click to expand...

Filthy motherfuckers! I read that loan sharking, and by loan sharking I mean the illegal 10000% shit, is monopolized by certain crime syndicates.. AKA the MAFIA

cocococo said:
if you need your kneecap please do not borrow money from the loan shark
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hahahahaha i probably need it

illfounded21 said:
I always thought it was because they used sharks to collect the debt for them? The concept never really took off in land-locked areas....
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Same here bro :P :P jokes
 
Seriously, you didn't know? I taught it was common knowledge.
 
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