There are situations when you might be in a tight spot and will need to borrow money from someone, but the problem is that it can sometimes lead to borrowing money from loan sharks. This can be pretty risky because they tend to charge interest rates that are ridiculously high and this means most people won’t ever be able to pay them back. When this happens, these loan sharks sometimes turn to very unpleasant tactics in order to make their borrowers repay their loans. If you are having problems like this, there are 6 things you need to do to protect yourself.
1. Call The Police
A lot of people in this situation tend to shy away from the authorities because they’re afraid that they’ll get into trouble. However, the first thing you need to do if you’re a victim of a loan shark harasment is to call the police. They will likely send someone out to look at your situation and this will mean you can get a clearer understanding of what you need to do from there. Because the loanshark knows that what he’s doing is not only wrong but also illegal, he might back off completely once he sees that you got the authorities involved. Even if that doesn’t happen, he’ll be far less likely to escalate the situation further.
2. Ask Friends For Help
Sometimes people that find themselves in this kind of situation don’t reach out to friends and family for help. It’s important to realize that there’s no reason to feel ashamed or undeserving of help. If you’re feeling endangered or unsafe in any way, it might be a good idea to talk to someone you’re close to, explain the situation and ask them if you could stay at their place for a while. Not only can that make it easier for you to deal with the stress you must be under, but you will not be at an address the money lender probably knows they can find you at, and you’ll also not be alone.
3. Change Your Routines
One of the things that makes life easier for loan sharks is that they know what you’re doing and when. If you have a typical route to go to and from work or school or like to hang out at a certain bar, it can make it that much easier for the loanshark to get to you. One way to help this is to change up your schedule entirely, but if that’s not an option for you, then it’s important to at least vary your route and what you’re doing as much as possible. For example, if you usually leave for work at 7:30 am, try catching the earlier bus. Opt for a new place to hang out with friends, and so on.
4. Cut All Contact
If it’s come to harassment, there isn’t much room left for talking. You’re unlikely to be able to reason with them and it’s important to understand that this is far more about intimidating you than anything else. If the loan sharks are calling your phone, block their number. Don’t answer the door when they stop by and so on. Sometimes these people might go overboard with their behavior just because they feel like their practices aren’t working and they want to make sure you understand how serious this is. That’s why it’s important to not talk to them and ignore their calls and anything else they might do to get your attention.
5. Hire A Lawyer
It’s important to know that if you’re dealing with this kind of harassment, the loan sharks are breaking the law. If they try contacting you or your family members, they can be taken to court for harassment and extortion. If it comes down to it, hiring a lawyer might be what will help protect you best. Since they’ve probably had previous cases similar to yours, a good lawyer will be able to advise you on what to do next, and he might even be able to get a restraining order put in place to protect you and your loved ones.
6. Self Defense Classes
The last thing you should consider doing is taking a self-defense class. You can learn moves that will help protect both your body and your property, which will make you feel safer when walking around outside and generally more confident. Buying a can of pepper spray could also be a good idea. That way, if the situation were to escalate, you can use it to defend yourself and disable them enough to be able to get away to safety and call the police. If you can avoid it, don’t get into a physical altercation with them, but it’s good to be prepared and know what you’re capable of just in case.
There are a lot of things that people have to deal with every day and sometimes it can be hard to know what’s going on. If you’re being harassed by an unlicensed moneylender, these six options can help you protect yourself. While this is an incredibly hard and stressful situation, it’s important to remember that they will back off eventually and that you’ll be able to continue with your normal life.