A woman attempted suicide in KwaZulu-Natal, Phoenix on Monday, 11 August 2025, after a loan shark unexpectedly increased the interest rate.
Initially, the interest rate was 50%; however, the loan shark increased it to 400%.
They demanded R100 000 in payback for a R20 000 loan.
WOMAN ATTEMPTS SUICIDE AFTER LOAN SHARK INCREASES INTEREST
According to Reaction Unit South Africa (RUSA), the woman’s family mentioned that the loan shark changed the interest rate to 400% after seeing that the debt was almost settled.
After the woman resisted paying the high interest, the loan shark threatened to send a group of men to repossess her car if the money was not paid.
Feeling scared, the woman borrowed smaller amounts of money to pay the loan shark as he continued making demands.
The woman called family members and informed them that she intended to jump off a bridge because she had become overwhelmed with debt.
She then requested her family to take care of her child.
RUSA Spokesperson Prem Balram said that they informed the family about the next steps they need to take to get help for the woman.
SUSPECT ARRESTED FOR ROBBING A FAMILY IN VERULAM, KZN
A suspect was arrested in Verulam, KZN on Tuesday, 12 August 2025, after attacking a family with a knife.
The 36-year-old male suspect entered a property on Aslaam Road in Riyadh with intentions to rob the residence.
Two family members were having tea in their yard when they suddenly noticed the suspect approaching them.
“The 78-year-old woman and her male domestic worker fled into the house, followed by the suspect. The robber produced a knife and attempted to steal the metal payer statue, but was confronted by a 54-year-old male who exited the bedroom. He stabbed the victim on his hand and fled empty-handed,” said RUSA.
The suspect was later caught on Russom Street.
Do you think loan sharks are the right people to go to when you have no money, or should you consider other alternatives?
Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1
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