Loan shark ransacks debtor's home

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Loan shark ransacks debtor's home

Published: 16 Oct 2012 at 15.43
Online news: Local News

CHON BURI – A man complained to police on Tuesday that his house in Satthip district was ransacked by thugs working for a loan shark.

Manop Bangphet, 46, told police that a group of men broke into his house, destroyed his belongings and took over 200,000 baht worth of possessions after he missed two daily interest payments on the money he borrowed.

He said he took out a loan of 20,000 baht from a loan shark three months ago, out of necessity. He said he called a phone number on a card that was glued to a public phone booth.

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fundeena
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Discussion 4 : 16 Oct 2012 at 20.034
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Why police do not arrest these criminals?
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DickFarang
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Discussion 3 : 16 Oct 2012 at 18.513
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400 baht per day or 146,000 baht per year on a principal of 20,000 baht equals a yearly interest rate of 730 %.
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bkk-farang
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Discussion 2 : 16 Oct 2012 at 17.172
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I thought these visits are standing procedure for loan sharks, or not?
It would be nice if the BP will follow up on this so we will read how the story develops.
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topcat_bk
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Discussion 1 : 16 Oct 2012 at 16.441
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And how is this incident unusual or newsworthy? I hear a story like this down here in Phuket about once a week. And I'm not even particularly well connected with the local communities.
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Loan shark ransacks debtor's home | Bangkok Post: news