loan shark

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Word: Loan Shark

Definition: A "loan shark" is a person or organization that lends money to people but charges very high interest rates, often much higher than what is considered fair or legal. They usually lend money to people who cannot get loans from banks or other traditional lenders.

Usage Instructions

• You can use the term "loan shark" when talking about situations involving borrowing money at unfair rates.
• It is often used in a negative context because loan sharks take advantage of people in financial trouble.

Example Sentences

1. "Desperate for cash, he turned to a loan shark, but he regretted it when he saw the interest rates."
2. "Loan sharks often threaten their borrowers if they cannot repay the money on time."

Advanced Usage

• In discussions about finance or law, you might find "loan shark" used to highlight the dangers of predatory lending practices. For example: "Many communities are fighting against the presence of loan sharks, as they exploit vulnerable individuals."

Word Variants

• Loan (noun): Money that is borrowed and expected to be paid back with interest.
• Shark (noun): A term often used to describe someone who takes advantage of others, especially in business.

Different Meanings

• The term "shark" can also refer to a person who is very aggressive or ruthless in pursuing their interests, not just in lending money.

Synonyms

• Predatory lender: A more formal term for someone who lends money at excessively high rates.
• Usurer: An old-fashioned term for someone who lends money with very high interest rates.
• Moneylender: A general term for someone who lends money, but it doesn't always imply high rates.

Idioms and Phrasal Verbs

• There are no specific idioms or phrasal verbs directly related to "loan shark," but you might hear phrases like "in over your head," which means to be in a difficult situation, often due to debt.

Conclusion

In summary, a "loan shark" is someone who lends money at unreasonably high interest rates. It is important to understand the implications of borrowing from such individuals, as it can lead to serious financial trouble.

Academic

Noun

1. someone who lends money at excessive rates of interest

Synonyms

• usurer
• moneylender
• shylock