Another way of Paying

There  was a man who used to owe more than 50 People.He would borrow  to pay.A
Loan shark had his own way of solving the
ones who he owed them.

The History of Loan shark
Easy to lend.
Small amounts loans from R100 to  R1000
Bank cards were kept by the Loan Sharks until at the end of the month.

Problems  of Loan Shark
-Customers would  cancel and change the
cards.
-Some failed  to pay  the Loan Sharks.
-The bad payers couldn't  be traced because the IT systems were not linked to
each other.
-The bottom line,it was a risky business.

Government Intervention 
The Government  of South Africa regulated
the financial industry.Only accredited
Financial Companies which have met the
requirements of Fica.

Other ways of Paying
Although  they were illegaly,these methods
were carried out if you fail to pay:
-it could be hard  labour.
-Your Assets can be seized for a certain
time.
-Of which  if you  fail to pay at a certain  time,your Asset might be sold recover the
owed money.

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