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This is the story of Karthick, a man who found himself trapped in a web of financial desperation, and made a rash decision that spiraled into a nightmarish experience with loan sharks.
Karthick was living a relatively comfortable life in Penang with a salary of RM 4,800. It was enough for a simple life in the city, but everything changed when he married his wife, who was based in Kuala Lumpur.
The couple decided to move to KL to live together, which meant Karthick had to leave his steady job behind.
Rather than rent an apartment, which would require a hefty deposit, they opted for Komune Living in Kerinchi, a hotel that charged RM 2,650 per month.
“To move into a regular apartment, we would need to secure a deposit of RM 8,000,” Karthick shared with In Real Life.
Although it wasn’t the most ideal living situation, it allowed them to manage their finances, with Karthick’s wife covering travel expenses and repaying some of the wedding loans.
However, just as they thought they had things figured out, an unexpected expense threw their plans off track.
The Unexpected Dental Crisis
Karthick’s wife suddenly developed severe dental issues, and a routine check-up revealed that she needed surgery to remove a problematic tooth.
“The check up alone cost RM 300, and they said the surgery would cost about RM 2800 – we simply didn’t have this kind of money saved up,” Karthick added.
They first tried a government clinic, but the experience was horrific. The swelling worsened, and the anesthesia wore off halfway through, leaving his wife in excruciating pain.
“She told me in tears that she can’t endure another brutal experience like that,” he added.
With no other option, Karthick reluctantly agreed to take her to a private dentist, who performed the surgery swiftly but at a hefty cost.
But there was one major problem: neither Karthick nor his wife had a credit card, and Karthick had canceled his after overspending in the past.
That was when the idea of borrowing money began to take root.
Borrowing from a Loan Shark
In their desperation, Karthick turned to a loan shark he found on Facebook. At first, the terms seemed reasonable—he would be given RM 3,000, with 30 days to repay the loan.
However, after providing his personal details, the loan agent transferred only RM 2,100 and suddenly shortened the repayment period to just 20 days.
When Karthick expressed his displeasure, the agent insisted that the money could not be returned and that there would be consequences if he failed to pay on time.
“I said I didn’t agree to these new terms and that I would just return the money to cancel the loan. He replied saying I couldn’t do that, and there would be consequences for not paying up on time,” Karthick shared.
Image: WhatsApp convo between Karthick and the loan shark.
In that moment, Karthick realized he had made a grave mistake. Not only had he borrowed from an untrustworthy source, but by providing his personal information, he had also put his family, particularly his elderly parents, at risk.
Seeking help from the police proved futile, as they couldn’t intervene unless there was physical harm involved. Karthick was left with only 20 days to gather the RM 3,000 he owed.
Desperate Measures and Hard Lessons
As the deadline loomed, Karthick scrambled to find any way to raise the money. He took on any jobs he could find, including selling items for Deepavali and offering writing and digital marketing services at a steep discount.
But clients were hard to come by, and even those he had worked with previously could not provide an advance.
“During my desperation, more anonymous numbers offered to lend more money. That’s how I found out that the loan sharks work in a network, trying to get your debt to go deeper,” Karthick shared.
More loan sharks contacted him, offering to lend him more money, but Karthick refused to engage, recognizing it was part of a dangerous cycle designed to trap him further.
The hardest part, however, was the harsh judgment he faced from people he thought could help. He was met with insults and criticisms, like “Stupid, why were you not thinking?” and “Aren’t you married? Why are you begging for money?”
These words stung, but Karthick was determined not to give up.
A Close Call and Final Payment
On the final day, with only hours left, Karthick still needed RM 700. In a last-ditch effort, he sold his beloved RM2000 drone for just RM 600 and secured RM 125 from a last-minute gig.
With just an hour remaining, he managed to gather the remaining RM 3,000 and settle the debt. But even after paying off the loan, the harassment continued.
The loan sharks continued to contact him, threatening and disturbing his peace whenever he refused to take out another loan.
At the end of the ordeal, Karthick was left with the bitter knowledge that he had been forced to give RM 900 to a stranger, who now had his personal information, and that of his parents.
This harrowing experience taught him valuable lessons, ones that he hopes will prevent others from making the same mistakes.
Key Lessons Learned: Emotional Spending and Financial Caution
Karthick’s experience serves as a stark reminder of the dangers of borrowing money from unsafe sources. However, a more profound lesson that he learned was the impact of emotional spending.
“I could not bear my wife going through another nightmarish experience at the cheaper dental clinic,” shared Karthick.
“However, If I had remained calm and decided to survey and seek a better clinic, a more affordable option, I would have avoided the entire scenario,” he added.
Karthick now urges others to be cautious in moments of financial crisis and to avoid making decisions based on emotion.
“When emotions blind our sensibilities, we should avoid spending as those are the times we incur dangerous costs.”
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Read also: I Got Into RM160,000 Worth of Credit Card Debt and Was Declared Bankrupt at Age 30
I Got Into RM160,000 Credit Card Debt and Was Declared Bankrupt At Age 30
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