Loan shark who demands 50% interest says he’s an ’emergency service’

A loan shark who demands 50 per cent interest on payments has claimed he’s an ’emergency service’ for online loans for bad credit families and finding a personal loan has used violence to get money back — as figures show 3.3million Brits used illegal lenders in last three years.

The lender — who demands 50 per cent interest on the money he doles out — said that all of his victims have paid up in a chilling interview as he admitted to making ‘physical contact’ those who haven’t been able to do so immediately.

It comes amid a spike in the criminal activity — with a third of Brits are said to have used one to pay their bills.

‘The people that I lend money to, fast payday loan they can’t go through the normal route,’ an active loan shark, disguised in a face-scarf and tinted sunglasses, told Good Morning Britain.

‘So you borrow £1,000 off me, you pay back £1,500. I think of myself almost like an emergency service. People come to me when they’re desperate.’

The lender (pictured) — who demands 50 per cent interest on the money he doles out — said that all of his victims have paid up in a chilling interview

Bank of Dave hero Dave Fishwick (pictured), payday loans online fast deposit who had interviewed the loan shark, slammed the man as ‘just wrong’ 

He continued: ‘I don’t get up in the morning and think today I’m going to do this, I might get caught. 

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