Saturday 29 December 2007

$874 loan that swelled to $131,070

1 comment:

Guanyu said...

KUALA LUMPUR: "If you don't pay RM500 today, prepare a coffin for yourself." This was the threatening text message received by Tan Lin Son from a loan shark who has demanded RM300,000 to settle a RM2,000 loan.

Tan's trouble started early this year when she borrowed from a loan shark known as "Avin" to pay for her children's education.

"I have already paid RM20,000 but he wanted more," said the 44-year-old restaurant waitress in Ampang.

Speaking at a press conference organised by the MCA Public Services and Complaints Department, Tan said the loan shark demanded that she pay RM500 daily or she and her family would be harmed.

"He has even slapped me at my work place and my home," she said in tears.

Unable to take the daily harassment, she asked the loan shark for the full amount to be settled and almost fainted when told that it was RM300,000.

Tan said the loan shark had been sending SMS almost everyday, threatening to hurt her and her family.

Department head Datuk Michael Chong has offered to help Tan lodge a police report.

He said the loan shark had gone too far and acted as if the country had no laws.

Chong advised the public not to borrow money from loan sharks.

To date, the department has received 529 complaints involving RM45 million.