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 Mlcc Statement of Money Lender Form 2011

2011-2024 Form

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what is a moneylender a moneylender is an individual or group that typically lends relatively small amounts of money at very high rates of interest moneylenders say they charge more than established banks do because their lending tends to be riskier for some people going to a moneylender is their only option because they do not have a bank account their credit scores are bad they already carry too much debt or because they have no relatives or friends who can provide a loan moneylenders have been around for thousands of years throughout history they have earned the bulk of their money by preying on vulnerable people as well as gamblers and compulsive shoppers who have built up considerable debts unfortunately the very people who cannot afford high interest rates are those who borrow from moneylenders loan sharks are people or firms that lend money at outrageously high interest rates the term loan sharks may be used for legal moneylenders or illegal ones what they all have in common are

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