IVA instead of loan shark stress
02/11/2010A loan shark who made his fortune by charging extortionate rates of interest to consumers who could have just used an IVA, has been jailed.
In more good news, the, 40 year old from Widnes on Merseyside, has this week been ordered to pay back £1 million worth of the money he intimidated out of his victims, who were trapped in a debt spiral and terrified of seeking debt help.
Paul Nicholson charged huge amounts of interest to those fearing bankruptcy - and then threatened those who could not repay him at these high rates, with violence.
Warrington Crown Court heard how he used weapons like knuckledusters and baseball bats, to drain yet more money from innocent people looking for debt solutions.
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