Loan shark ransacks debtor's home
- Published: 16/10/2012 at 03:43 PM
- Online 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.
Under the loan agreement, he had to pay interest of 400 baht per day. The interest payments would continue, without reduction of the principal, until he paid back the actual loan in one lump sum.
He said he had already paid more than 30,000 baht in over two months, but he did not have the money to repay the principal and therefore he had to continue his interest payments.
He had failed pay the interest for two days, and a group of men came looking for him at his house.
When they found he was out of town, they ransacked his house.
His neighbour witnessed the incident and told police that two men came looking for the victim. They could not find him, so they broke into his home.
Mr Manop said he had moved his family out and sent them to live with his relatives because he feared that the loan shark gang would hurt them.
Police said they would call the loan shark in for questioning, and then charge him and his gang with trespassing and burglary.
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- Writer: Online Reporters
Position: Online Reporters