When money is urgently needed, people may agree to pay any price for a loan. Too late, they may find themselves in the clutches of loan sharks. A loan shark is an unlicensed lender because their rates are higher than the law allows, sometimes 1,000 percent or more a year. Borrowers are hardly ever able to repay their loans. It is all they can do to pay the interest. Borrowers who fail to pay the interest on time have been threatened with injury.
Now match each of the persons to the appropriate statement.
Note: there are two extra statements.
Statements
61. Mark Lilla [A] A person can borrow as much as his life insurance's cash value.
62. Chris Roddy [B] The lender gets huge profits.
63. Karen Barber [C] The borrowers may not take as long as they want to repay their loans.
64. Louise Richard [ D] If the loan is not paid in a year, the item belongs to the lender.
65. Jodie Morse [E] Borrowing from their parents or relatives is the easiest or the
best loan source for the young consumers.
[ F ] The consumers without good credit can borrow money from their parents or relatives.
[G] The interest rate of the commercial bank is the lowest. For example, the cost would be 360 cents if you borrowed $200 and repaid it in 60 days.