What is defined as any extension of credit in which the creditor and the debtor both understand that a delay or failure in making repayment could result in the use of violence or other criminal means to cause the harm to the person,reputation,or property of the person?

Question

What is defined as any extension of credit in which the creditor and the debtor both understand that a delay or failure in making repayment could result in the use of violence or other criminal means to cause the harm to the person,reputation,or property of the person?​

Quizplus · Accepted Answer

This type of debt is referred to as loan shark debt, in which an illegal lender uses coercion or intimidation tactics to collect payment.

What Is Defined as Any Extension of Credit in Which