Why are predatory loans illegal?

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Producer:Videojug
Source Organization:Videojug
Duration: 1:42
Family friendly: Yes
Video quality: 360p
Video frame size: 640x360
Player type: Flash
Encoding format: h.264
Bitrate:900kbps

Why are predatory loans illegal?

Robert Sinclair (Director, AFB) gives expert video advice on: What is a 'predatory loan'?; What is a 'loan shark'?; Why are predatory loans illegal? and more...

Such loans are considered illegal and would be set aside if brought to court because the interest rate is deemed to be punitive on the customer, and an unfair contract term.

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