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What is the lending of money at an unlawful or very high interest rate?
Wiki User
∙ 9y ago
Usury; loan-sharking.
Wiki User
∙ 9y ago
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What is usury?
Usury is a practice of lending money at unreasonably high interest rates.
What is a sentence with the word usury?
There is still usury in some villages. It means lending money at high interest rates.
In medieval times the practice of Lending money for interest called?
usury Lending money for interest is a very old process. But now the way of doing this has changed. On internet you can find sites like www.yes-secure.com which allow you to lend your money to others via their site. These sites check for the credit and history of the borrowers and thier ability to repay the loans which you will lend to them. The practice of lending should be done with proper care as may loss your money.
What does Usury mean?
As a general definition, usury is loaning money at extravagant interest rates. The legal definition varies. The practiced of lending money to people, especially making them pay unfairly high rates of interest.
How do you use usury in a sentence?
Money lenders found guilty of usury have wrongfully engaged in the practice of charging a high or unlawful rate of interest on a loan.
Is the interest on payday lending too high?
Payday lending is expensive and the interest adds up daily and their can be hidden fees.Research the companies out there to find the best fit for you and your situation.
Is high interest rate good or bad?
That depends on whether or not you're lending or borrowing. Lending = good Borrowing = bad
What can one do with saving bonds?
Savings bonds can be bought and then kept as investments. They are a way of saving by lending the government money. They are a fairly reliable form of investment although they do not get a high rate of interest.
Can you save money with a high interest savings account?
Yes, a high interest account is a very desirable savings account because you will gain a decent amount of interest on your money. You will gain much more money if you get compound interest by saving more money into the account monthly.
How do you find someone that will refinance after chapter 7 without waiting 2 years?
Refinancing is a very tricky and risky deal for any bank. There are lending companies that may do it but you are going to pay very high interest. Remember, you filed bankruptcy and screwed everyone you owed money to in the process. Banks and lending institutions do not like that. THe only way to find out isd to call banks and lending companies to find out.
How interest rate affect households?
If your interest is high then the money remain with you will be low to support your need. On the contrary you will be left with more money if the interest rate is low.
Does my bank offer a high interest savings account, and is it a good way to save my money?
You will have to check with your specific bank to see if they offer high interest savings accounts but most major banks do. A high interest savings account can be a great way to invest your money. One advantage you have with a high interest savings account over a certificate of deposit is that your money is available at no penalty if you need to withdraw it.
