A 15-year-old boy got himself caught in massive debt after borrowing money from loan sharks just for a meal.
The young man wanted to satisfy his girlfriend’s cravings and didn’t want her to know that he didn’t have enough money, so he approached a loan shark to borrow RM500 so that he could treat his partner to a plate of Siakap 3 Rasa (Barramundi cooked in spicy, sweet and sour sauce).
Just when he was contemplating how to get enough money for the seafood meal, the young man came across an advertisement from a loan shark on TikTok. Unfortunately, the RM500 loan was just the beginning.
Darul Muttaqim (DM) Fardu Ain and Al-Quran Studies Centre manager, Fariz Izhar Adrus said the naive teenager from Selangor owed money to a total of 12 loan sharks, as reported by Utusan Malaysia and Kosmo.
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“He couldn’t afford to pay the debt with interest, so he borrowed from 11 other loan sharks and the debts amounted to RM13,000.”
Fariz also said that the teenager approached him and asked for help, and the boy’s parents have also been alerted about the matter. The young man, however, is not staying with his parents anymore and is currently staying with his uncle.
“He has dropped out of school, and I guess he was too embarrassed to borrow money from his parents.”
Fariz Izhar Adrus
Fariz added that the teen was among over 3,700 cases involving individuals aged 15 to 60 who were in trouble with loan sharks and debts that the centre has helped to resolve over the past three years.
He also said that the centre receives about 50 cases daily regarding individuals getting into trouble after borrowing from loan sharks.
We can only imagine the fear of being stuck in debt and facing the intimidation of loan sharks at such a young age. Hopefully, this will serve as a stern reminder to the young man (and others) about spending within your means.
Also read: M’sian Borrows RM50K from Loan Shark, Ends Up Owing RM4 Million After Borrowing from 16 Loan Sharks
