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 payday loans online same day 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, they can’t go through the normal route,’ an active loan shark, personal loans disguised in a face-scarf and 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. 

Here is more info about instant personal loans have a look at our web-page.