KUALA LUMPUR: An elderly woman endured immense suffering after falling into the clutches of loan sharks while attempting to settle her daughter's credit card debt.
In a post shared by the Malaysian Humanitarian Society Organisation (MHO) on TikTok, the woman revealed that the overwhelming debt has left her feeling as though she has no life left.
"I only have a body, but I am no longer living," she said, disclosing that the debt, which initially started at RM600, has now become the source of her misery.
The distressed mother explained that she became trapped in loan shark debt after her daughter was unable to pay off personal and credit card debts amounting to around RM400,000.
"My daughter had no money, and as her mother, I felt I had to help her. However, at that time, I was also facing financial difficulties due to problems with my business.
"I tried to obtain a legitimate loan but was ineligible because of my age. This desperate situation drove me to borrow from loan sharks. Initially, I could keep up with the payments, including the interest.
"The first loan was just RM1,000, and I only received around RM500 to RM600. But now, the debt has ballooned to RM100,000, involving two loan sharks," she said during a meeting with MHO secretary-general Datuk Hishamuddin Hashim.
Adding to her hardship, the woman said that she has been left to deal with the debt alone after her daughter moved abroad to seek a better life.
She admitted to filing a police report, feeling unable to continue repaying the growing debt.
During the interview, Hishamuddin said that the loans the woman took were from unlicensed moneylenders, who are not recognised by the Housing and Local Government Ministry (KPKT).
"All moneylending companies must be licensed by KPKT and meet several regulatory criteria.
"These companies are required to adhere to the law, which includes not offering loans online or outside their premises," he said.