A FOOD vendor filed a complaint at the Centre for Suppression of Informal Debt that a loan shark has been charging her exorbitant interest on 20,000 baht she borrowed six years ago and after paying over a million baht the principal has not been reduced, Amarin TV said this evening (Aug. 1).
Ms. Somsakul (pseudonym), 58, sought assistance from the police because she has been threatened and harassed by the creditor and this is nearly tearing her family apart.
She related that in 2019 she borrowed 20,000 baht from a loan shark named “Chay Kai”, who is a major informal lender in Bang Kapi area of Bangkok. She had to pay 300 baht in daily interest and this weighed heavily on her family.
As time passed, as she was not able to repay the principal, the loan shark charged compound interest, increasing her debt to over 100,000 baht. She then had to pay 700-1,000 baht daily interest.
Even though she has paid over one million baht in interest to the loan shark, the principal balance has not decreased at all.
She had been hiding this from her family but last week as she could no longer carry this burden she confessed but doing so shattered her family with her husband and his relatives no longer talking to her.
She had to borrow money from people close to her to pay the heavy interest as the loan shark constantly threatened her, even at her home, forcing her to move. They sent videos of other victims being assaulted and threatened to confiscate her car and other belongings.
As she got severely stressed and was deeply worried that her youngest daughter might be physically harmed she sought help from Sgt. Singh Tangthim who then brought her together with a bank passbook showing over a million baht being transferred over six years to this centre for filing a complaint.
CAPTION:
Ms. Somsakul together with Sgt. Singh Tangthim. Photo: Amarin TV
Also read: Govt MP denies being loan shark in disguise
Chinese loan shark gang busted in Pattaya
Thai air force denies reports of suspended sale of Swedish-made Gripen jets
Thai army tells envoys Chong-arnma area is part of Thai territory
One Thai border area left unoccupied due to landmines
Nearly 200 Thai migrant workers want to return to Khmer dens
19% tariff for both Thailand and Cambodia shows US more focused on mutual benefit: Korn
