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High Street Banks or Loan Sharks

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alan47 | 08:45 Mon 09th May 2005 | Business & Finance
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What is the difference between a Loan Shark and most High Street Banks?

I know Loan Sharks are illegal but you know the conditions before you accept the loan from either. Both can cause untold misery. So why are Banks allowed to get away with their extortionate charges...and in some cases even to get your own money?

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Avatar Image stevie21
Banks are allowed to do what they please as "you know the conditions before you accept the loan from either."

If you don't like the terms, don't sign the contract. Simple concept.

Either way, I do agree that certain banks charges are appalingly expensive but switching from one bank to another is getting easier and faster.
23:53 Mon 09th May 2005
Avatar Image secretspirit
Bank loans may carry high interest but not as high as a loan shark and they don't come to your house and make physical threats!
22:09 Mon 16th May 2005

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