Man borrowed 30,000 THB from loan sharks but has paid over 3M in interests.

December 12, 2023 Tanyaporn R.

A man borrowed 30,000 THB but has paid over 3 Million THB in interest. Loan sharks have threatened to kill him so the man has been on the run. The victim has asked for help from a famous Facebook page named Sai Mai Tong Rod in Thailand. The man revealed it started with a loan of 30,000 THB that led to a cycle of hell. He has 29 loan sharks remaining who are threatening his life and he has been sleeping at bus stops and temples. Chai 65 years old is an owner of a company in Chonburi Province. Chai had financial problems and decided to borrow money from a loan shark in 2020. He tried borrowing from relatives but it was still not enough.

Although the loan was for 30,000 THB the loan shark took the first round of interest right away and he received only 24,000 THB. He paid 600 THB in interest every day but then he couldn’t continue paying. The loan shark recommended him to borrow more money from another loan shark. The second loan shark then recommended the same. He believes they all belonged to the same loan shark group. Chai continued borrowing money from a new loan shark to pay the interest of the old loan shark until he could not find any more loan sharks to borrow from. There was one loan shark who forced Chai to purchase 2 motorbikes worth over 200,000 THB. Both motorbikes have been moved out of Thailand.

On some days he had to pay over 20,000 THB in interest. In total, he collected 37 loan sharks within 8 months. Chai has managed to pay off 8 loan sharks but 29 remain and they are looking for him. In total Chai has paid over 3 million THB in interest alone. The loan sharks have closed his company down and are waiting for him at his home and business. Chai went to file a report with the local police who recommended him to move away as the loan sharks have power in the area and are not afraid of officials.