Harassed by 30 loansharks day and night
Shin Min Daily News
A man started out by borrowing $2,000 from one loanshark early last year, only to end up owing $60,000 to more than 30 loansharks now.
Mr Yan, 31, stays in Sengkang and is a manager of a nightspot. He initially borrowed $2,000 from a loanshark and started borrowing from other loansharks to pay off his original loan.
In merely a year, his chain of borrowing left him owing more than 30 loansharks a total of $60,000.
At one point, Mr Yan was even forced to pay up more than $10,000 a week, and the first thing on his mind every day was how to raise that money.
Different loansharks now badger him every day, sending him threats and various text messages.
"I can receive more than 20 SMSes a day from loansharks, threatening to burn down my house.
They also threaten to harm my neighbours, and force me to become a runner for them. I'm on the verge of breaking down from their harassment," said Mr Yan.
Worried that loansharks may harm him and his neighbours, he has already sought help from the police.
Somehow, the loansharks have somehow managed to acquire the names of his neighbours and have listed every one of them as Mr Yan's guarantors.
A neighbour has already fallen victim to the harassment, with paint splashed on the door of his unit.
Guilt ridden, Mr Yan approached the neighbour to personally apologise and has helped to repaint the vandalised door.
Source: Shin Min Daily News, 13 March 2012.
