A lady on Facebook is warning people not to borrow money from loan sharks. She says her life has changed after borrowing money and she thinks her days are numbered. This is her story;" Four months ago my baby was sick and admitted at the hospital. I have no financial support I live off by grant and selling things but since then the business is not going well. So I went to take R500 loan due to desperation from a loan shark which I failed to settle and paid little but interest kept going up.

I can't afford the whole amount and have been giving her excuses to pay. I do not sleep at night. I hear sounds in my bedroom window. Last night there was a figure of a tall slim girl at my bedroom door. I know she is hunting me and my days are numbered. She gave me one month to pay all her money. There is nothing I can do. A lot is happening and my daughter says she sees things at night. Please guys, stay away from those people, they are cruel."

Source:

Don't borrow when u know u don't have any means to pay back

I have been using loans from " loansharks" for my business for over 5yrs now with no issues. Even when I can't make the repayment deadline I contact them to give me an extension. And they usually do, sometimes at extra cost. No matter what the interest rate is, as long as everything is spelt out to you beforehand then you're at fault for failing to pay back the agreed amount at the end of the day

Story

Its like borrowing money from a shrine.

It's like digging a hole to cover another.

Loan is meant for business.Dont be like Buhari that borrow to fund budget that will be looted by politicians.