Did "loan sharks" arise after debtors' prison was eliminated?

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No. Loan sharks arose out of the developments of the finance sector and The West.

Debtors prisons were eliminated prior to the Civil War, via the development of early bankruptcy laws.

The Civil War triggered an expansion in the financial economy. It, and the resulting recessions and banking crises led to westward expansion of financial services. The lack of regulatory oversight and large demand for financial services encouraged many actors, such as businessmen, merchants, even clergymen, to offer high-interest loans. By the late 19th century loan sharking was an established cottage industry, the term "loan shark" also entered the popular vernacular, replacing the previous term usury.

See: Loan Sharks: The Birth of Predatory Lending By Charles R. Geisst

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Did "loan sharks" arise after debtors' prison was eliminated?

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