For an initial loan of £750, Kim was paying back £400 interest. She says the pressure intensified after she had to disclose her payday just before Christmas one year
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A mum-of-two has been left thousands of pounds in debt after borrowing £750 from a loan shark who posed as a friend ten years ago.
Kim, now 41, and her then-partner, took out four loans with the same woman and gave half of their net income to her every month.
The couple, who lived in the North-west of England, said the loan shark was a woman who had previously worked for a legitimate lender.
She said: “We trusted her. We thought she was operating legally and she told us we were ‘good payers’. She used to come and sit in our house and fuss over my children.
“She told us about her family and her holidays. We were friendly. We’d known her for some time.”
For an initial loan of £750, Kim was paying back £400 interest. The pressure intensified when the lender asked when her payday was and harassed her until each payment was made.
Have you been approached by a loan shark? Get in touch: emma.munbodh@mirror.co.uk
Kim still took out further loans. She explained: “We were both working and so people think you’ve got money, but by the time you’ve paid your bills you’ve not got much left in the pot.
“It’s hard if the washing machine breaks down or if you don’t know…
