An investigator from the Trading Standards' Loan Shark Team, which carries out operations across the Midlands, said one illegal money lender
from Birmingham who had recently been jailed charged as much as 8,000 per cent interest.
Paul, 25, earned just pounds 600 a month in his job as a sales assistant, but the money lender
demanded as much as pounds 500 every month for the cash he had loaned him.
June 17, 2015 /PRNewswire/ -- Center Street Lending, one of the largest private money lenders
to the residential investor community, today announced significant improvements and additions to its loan products.
Chennithala said the registration and cooperation departments were also being involved to coordinate the Operation Kubera drive against illegal money lenders
in the state and that the government would not let extraneous pressures sabotage the drive against such money lenders
A DON'T go near the money lender
under any circumstances.
I would encourage anyone who has a loan from an illegal lender or knows of anyone operating or in the grip of an illegal money lender
to contact the unit.
An illegal money lender
and his son kidnapped a customer off the street and then subjected him to a terrifying ordeal which left him fearing for his life, Birmingham Crown Court was told.
Under the law governing money lenders
, financial authorities are authorized to suspend business operations and nullify a finance company's registration as a money lender
if the company commits illegal loan-collecting practices.
a full-service private money lender
specializing in trust deed secured real estate lending, is expanding its services across the country.
May 27, 2015 /PRNewswire/ -- Hard money lender
Riverdale Funding, LLC has been cleared to make commercial hard money loans in Arkansas and Iowa, expanding its reach to 32 states across the country.
Mr Millington added that Daord, of Hampton Chase, Prenton, denied being an illegal money lender
saying he did lend out cash to friends but did not charge and sometimes didn't even get his money back.
But there are no rules on how much interest a legal money lender
can charge and rates can be 800% or more.