Best LA Lawyer on Steps if Loan Sharks Are Chasing You and Threatening Your Family
Many of us often find ourselves struggling financially at some point. When you find yourself in this situation, you might feel that the only solution is to turn to loan sharks. Loan sharks aren’t licensed by the FCA and as such, have no legal right to demand that you pay back your debts. But loan sharks can be very clever and dangerous. They might threaten you with prosecution or jail time if you don’t pay. If you find yourself dealing with loan sharks, contact a Civil Attorney Los Angeles right away.
Know your rights
There are important things you should remember when you borrow money from a loan shark. First, you aren’t doing anything illegal and you will get in legal trouble with the law. Although it’s illegal to lend money without a license, it’s not illegal to borrow money from loan sharks. Second, you aren’t legally obligated to pay back the amount you loaned. Since the loan shark lent the money illegally, they have no legal right to collect it. Many people continue to pay their debts to loan sharks because they worry about their safety. To learn about your options, ask for advice from an LA lawyer.
Gather evidence
Before you file a complaint, you must first gather enough evidence to support your claim. Evidence can come in the form of a record of the number of calls or visits from the loan sharks with times and dates, any written documents they sent you, witness statements, and more.
Reach out
Loan sharks have notorious reputations and they will say or do anything to keep controlling you. But once you hire a Los Angeles lawyer or report them to the authorities, you will get support and help. Remember that loan sharks are law-breakers since they aren’t licensed to lend money. Any person who approaches you that you believe is a loan shark, you should report them to the authorities immediately. If you think you’re in danger because of your report, contact the police right away.
Find other ways to borrow money
There are better alternatives to borrowing money from loan sharks. The most obvious one is to get a loan from a licensed lender. There are many reputable lenders who will consider lending you money even if you have a low income, a poor credit rating, or if you only need to borrow a small amount. People who have low incomes and need to borrow small amounts of money for a short time can turn to a credit union. Most credit unions encourage members to save what they can and only borrow an amount that they can afford to pay back.
Consult with a lawyer now
If you don’t want to get in trouble because you borrowed money from a loan shark, the best advice is not to borrow money from them at all. These unlicensed moneylenders charge interest rates that are very high and often resort to violence or threats to scare people who cannot pay. If you get involved with a loan shark, share your concerns with Jance Weberman, the leading civil attorney Los Angeles trusts with such matters. Call us today on (213) 386-9100 to learn more.