Can I report to the police an illegal money lender?

My classmate borrowed a money from our batchmate. He charge my classmate 40% of interest rate and gave him a short span of time to repay. I am bothered as he has been threatened to pay when he tried to not pay in a week. He asked for my help to report him to the police but it seems that he has been following him and in the past days, me as well.

User comments

No Name

There are a lot of loaners out there that are not being acknowledge because they are just minor loaners or just a lend from a friend. But there are cases where even though they are your friends. They are charging you a percent that is more than the company loaners offer. They are called loan sharks. Being a loan shark is illegal. Loan sharks cannot file a complaint against you. If you are being threatened by those people. You can report to the police to help you with that.

2020.03.24 15:44

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