Dream wedding loan boomerangs into financial nightmare for accountant
By News Desk in Johor Baru/The Star | ANN – Fri, Jul 1, 2011
Johor Baru (The Star/ANN) - She first borrowed 3,000 ringgit from an Ah Long (loan shark) to finance her dream wedding.
But it soon turned into a nightmare as she ended up borrowing from 22 other Ah Long as well while trying to cover her loans and the loan amount snowballed to 40,000 ringgit.
The Malaysian accountant, who only wanted to be known as Azura, 29, initially borrowed 3,000 ringgit from one Ah Long in November.
When she did not have the money to pay, she resorted to borrowing from another Ah Long and then another, until the situation got out of control.
"The 23 Ah Long have been harassing me since December, and threatened to splash paint over my house," she said, adding that she had lodged a police report over the matter.
She said she borrowed a maximum of 1,000 ringgit from each Ah Long and had paid a total of 15,000 ringgit in interest, but this was still not enough to settle her debts.
Azura decided to come clean with her husband over her sticky financial situation and also sought help from Johor Baru Malaysian Chinese Association (MCA) Public Complaints Bureau deputy chairman Michael Tay.
Her husband agreed to use the 20,000 ringgit he will be receiving at the end of the month to help settle the loans, while his brother will also chip in by selling off his lorry for 10,000 ringgit.
"The case once again shows the consequences of borrowing money from Ah Long and I urge the public to learn a lesson from this episode," Tay said.
Nusajaya police department chief Supt Abdul Aziz Ahmad confirmed that police reports had been lodged and said police had conducted investigations but it was a civil matter.
By News Desk in Johor Baru/The Star | ANN – Fri, Jul 1, 2011
Johor Baru (The Star/ANN) - She first borrowed 3,000 ringgit from an Ah Long (loan shark) to finance her dream wedding.
But it soon turned into a nightmare as she ended up borrowing from 22 other Ah Long as well while trying to cover her loans and the loan amount snowballed to 40,000 ringgit.
The Malaysian accountant, who only wanted to be known as Azura, 29, initially borrowed 3,000 ringgit from one Ah Long in November.
When she did not have the money to pay, she resorted to borrowing from another Ah Long and then another, until the situation got out of control.
"The 23 Ah Long have been harassing me since December, and threatened to splash paint over my house," she said, adding that she had lodged a police report over the matter.
She said she borrowed a maximum of 1,000 ringgit from each Ah Long and had paid a total of 15,000 ringgit in interest, but this was still not enough to settle her debts.
Azura decided to come clean with her husband over her sticky financial situation and also sought help from Johor Baru Malaysian Chinese Association (MCA) Public Complaints Bureau deputy chairman Michael Tay.
Her husband agreed to use the 20,000 ringgit he will be receiving at the end of the month to help settle the loans, while his brother will also chip in by selling off his lorry for 10,000 ringgit.
"The case once again shows the consequences of borrowing money from Ah Long and I urge the public to learn a lesson from this episode," Tay said.
Nusajaya police department chief Supt Abdul Aziz Ahmad confirmed that police reports had been lodged and said police had conducted investigations but it was a civil matter.