Canadian Money Forum banner

loan shark

  1. Private lender inquiries

    General Personal Finance Talk
    I would like to find out if any of you ever had to deal with Millburn Lending Group for a personal loan? They have accepted my request and because I have no collateral, they are suggesting I buy an insurance from their company to insure my loan and then I can receive financing from them. I do...
  2. Are Peer Lenders In Canada Safe?

    General Personal Finance Talk
    I read an article about "peer-to-peer" lenders in Canada. It looks like there are currently 3 brokers in the space: Grouplend, CommunityLend, and Borrowell. Is this industry safe for me to borrow money? I've heard about LendingClub in the US, but am weary of what looks to be an unregulated...
  3. Personal loans to friends

    General Personal Finance Talk
    On the news a couple of years ago, in BC, they said that if you are NOT an financial institution, it was illegal to charge interest on any money that you have lent out. This would fall under the Loan Shark Law. Now I live in Alberta. And apparently it is ok in Alberta to charge interest if you...
Top