Times are tough, and we have no idea how bad desperation can push someone to take extreme measures. An old video showing a then 24-year-old girl stuck in debt is recently circulating again on X.
Despite the time gap, we cannot deny how debts and financial struggles are still happening today, especially among the youth who lack financial literacy. In the video shared on PPIM’s YouTube Channel, the girl admitted to having borrowed money from not 1, not 2, but 16 loan sharks at a time in an attempt to help her financially.
Little did she know, the decision sealed her fate, and she was stuck in RM32,000 of debt.
What sort of desperation had she landed herself in? The unnamed victim said she wanted to settle her outstanding rent, so she started to reach out to loan sharks that she could find on social media to help her financially. The victim, however, was unaware she had sought help from an unlicensed dealer, who charged her high-interest rates.
She was required to pay the instalment weekly, but it was too much for her.
Unfortunately, she had no choice but to contact other loan sharks to help cover her previous debts. When the debts were piling up and became too much for her to cover, the loan sharks did what they do best – intimidation, by sticking her pictures everywhere with a label that said, “This person is not paying her debt.”
“I reach out to more and more loan sharks to help cover my previous debts. I ended up owing RM32,000,” said the woman.
She did not think of reaching out to her family because she didn’t want to be a burden.
“Back then, I didn’t know that the debts that I got myself into were actually a burden to my family.”
In the 3-minute clip, PPIM revealed that they have managed to settle the debts for the girl, and you can watch the clip below.
Money saving and investment are equally important; at tough times like this, it’s best to equip yourself with enough financial knowledge.
Also read: ‘Credit card & loans’ – M’sian With RM5K Monthly Income Struggles With RM200K In Debt
