Do you agree Banks are like a "legal" loansharks?
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What is the different that you think between Banks & Loan sharks? Do you agree borrowing money from loansharks is much easier for the low incomers as they do not need any requirement to borrow as compare to banks?
Do you agree Banks are like a "legal" loansharks?It depends on your perspective when you face a cash-strapped situation where you desperately need funds to resolve.
Getting a loan from banks is done in a structured way that takes into consideration of credibility, process and legal aspects. Rights of both parties are protected and executable when there is default or breach by either party that can be addressed in a legal system.
On the other hand, loan sharks require a copy of one's identity card and signature/thumb print on promissory notes or I.O.U. to immediately avail you the required funds bearing mind of high interest in repayment. They can resort to illegal means and violence to get their money back at all cost if they see fit.
So, it would be better to go for a "legal" loan shark than an illegal loan shark as we can rely on debt/credit management aspect of a legal loan.
Do you agree Banks are like a "legal" loansharks?Banks require less interest. More importantly should you be unable to pay, the arbitration process is more open and fair and less likely to involve surprised family members.
Do you agree Banks are like a "legal" loansharks?More Related Questions and Answers ...
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