Loan Sharks (real ones!!)

~Brock~
~Brock~ Posts: 1,714 Forumite
Part of the Furniture 1,000 Posts Combo Breaker
http://uk.news.yahoo.com/5/20090805/tuk-menacing-loan-shark-escapes-prison-t-45dbed5.html

The sentence passed was pathetic in my opinion, and hardly an incentive for someone else not to come along and provide the same 'service'.

Almost makes Welcome or the Provvy look like saints by comparison.

This is the type of situation which will occur more and more if licensed companies are driven out of business, as some people appear to be in favour of.

Any other thoughts?

Comments

  • Snakeeyes21
    Snakeeyes21 Posts: 2,527 Forumite
    edited 5 August 2009 at 4:21PM
    Great reporting once again by the british media and they managed to miss out one VERY IMPORTANT DETAIL, HOW MUCH DID SHE END UP BORROWING?
    it only says the 88k repayment and an initial loan of £500, which she kept increasing. How much did she end up borrowing? £87k with £1k interest? £80k with £8k interest? If so that would be a bargain over 8 years.
    to give a loan shark a suspended sentence there must be more to the story than what has been reported.
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