Best LA Lawyer on Your Legal Options if Loan Sharks Threaten Your Family
Predatory loan sharks target needy families and offer them conditions they know they cannot fulfill. The sharks give the individuals and families exorbitant interest rates and if you default, they become very aggressive. They threaten to take you to court, impose heavy penalties on you or threaten to auction your valuables to recover their money. You must quickly evaluate your options and take quick action.
Check if the shark is licensed
You should only borrow money from licensed lenders and any unlicensed entity is not authorized to lend money. Before you borrow money from any lender, you should first confirm if they are authorized. If the loan shark is harassing your family and you realize they are not licensed, you will have no obligation to pay them. Your predatory lending attorney Los Angeles can advise you that such a loan shark has no legal ground to take you to court no matter the level of threats or harassment against you.
Inform the police immediately
Any lender has no legal right to harass your family regardless of whether they are licensed or not. Your predatory lending attorney Los Angeles can prepare a strong case against such a lender and have them charged for harassment. Inform the police immediately to have them investigated, arrested, and charged in court. If the loan shark is not licensed, they will have several charges prepared against them and they might be barred from applying for a license in the future.
Contact your lawyer
Your predatory lending attorney Los Angeles has vast experience dealing with loan sharks who harass innocent families. Contact him and give him the details of the loan shark in question and include all the threats you have received from the loan shark. Your lawyer will investigate the situation and weigh the options he can use to help you receive help from the court.
Inform government authorities
The government regulates money lending and interest rates charged on borrowers. Most of the loan sharks do not follow government regulations on lending and they give papers with incomplete information to sign or ask for unrealistic interest rates. Some might offer you loans and process them without any paperwork or formal documentation. Report to the money lending and laundering authority at the state level for further investigation and action.
Do not make further payment
You might fear the loan sharks will come to your house and auction your valuables or come and harass you at your workplace or any public place. After you have reported to the police and contacted your lawyer, stop making any further payment immediately and let the law take its course. The loan shark is the one who should pay you for harassment and not you.
Legal help against loan shark harassment available
Loan sharks could be making all forms of threats against your family but they aim to intimidate you and build fear in you to make you pay. No lender has the legal right to harass you because of a loan. Instead, they should use the legal means available to recover their money. If you have been facing loan shark harassment, contact our civil lawyer Los Angeles on telephone number (213) 386-9100.