It may be that you are in a financial position that sees you needing money in a hurry. If you do need to get your hands on cash at short notice, you may not be sure of what options you have available to you. There are payday loans but these are hugely expensive options and should be avoided at all costs. Some people may have turned to loan sharks in their local area, but again, these aren’t a sensible option. Loan sharks charge massive rates of interest and when you are unable to pay, they have no concerns about rolling over loans sinking you further into debt or engaging in acts of violence to settle the matter.

It should go without saying that you should avoid loan sharks at all costs. There is a great deal to be said for looking at all of your options and rather than opting for a loan shark, it may be that taking out a guarantor loan is the best solution. You can avoid loan sharks with guarantor loans, and you will find that you end up paying a much more affordable rate of interest.

Guarantor loans can help you avoid loan sharks

The Chief of the Consumer Finance Association, Russel Hamblin-Boone, spoke out recently about money lenders, saying; “Our analysis of hundreds of thousands of loan applications proves that borrowers are being excluded from credit and concerns are growing for how they are filling the gap in their finances. It is time to draw a line under the attacks on short-term lenders, recognise the huge improvements in lending and accept that we have a highly-regulated, legitimate market to keep people out of the hands of unscrupulous, illegal lenders.”

There is a need for people to realise that high cost credit isn’t the most viable solution for them, and that there are loans on offer that are far more affordable and of benefit to them. Even ignoring the threat of violence that many loan sharks impose on their clients, the rate of interest that these loan sharks charge means that they should be avoided at all costs. There is a great deal to be said for being aware of all of your options for finance, and this is where turning to a guarantor loan company can make a massive difference.

If you want to find the most reliable and effective loan solution, call on guarantor loan companies and make sure that you avoid loan sharks.