It's normal sometimes to be in a situation that requires you assessing a loan for certain needs. Getting a loan isn't totally a bad idea at times. However where we get it from matters a lot.
Patronizing loan sharks are terrible way to go as they tend cost you more. Loan sharks are company that offers ridiculous interest rate and are often easy to get. They prey on the desperate and the needy.
The best way to avoid falling into them is to totally avoid patronizing them. They may look easy to access or get but they must be shunned so as not to fall victim of having to pay those high interest rate and been stuck in a worse condition than you started out.
A friend of mine earlier this year was a victim and this caused him to be in a terrible financial situation having to in a bid settle them and threats he was received. It even got to a point where unsolicited messages was sent to his friends and family.
All this could have been totally avoided if he wasn't so desperate for a loan. You may have legitimate needs sometimes but it's recommended to get from friends, a close relative or microfinance bank. Loan sharks should be totally avoided if you intend to avoid suffering a worse fate.
