Man Warns of Predatory Online Loan Cycle
A Buriram man warns of predatory online lending after borrowing 1,600 baht and being trapped in an escalating debt cycle, with the lender forcing unwanted transfers and harassment calls that disrupted his work.
A 55-year-old pipe contractor from Buriram is warning the public about predatory online lending practices after falling victim to a cycle of unwanted debt. Boonrop borrowed 1,600 baht from an online lender approximately 15 days ago and was told he owed 2,690 baht total, payable within 7 days. Realizing the interest was extortionate, he decided to pay off the debt after 7 days by transferring 2,693 baht to the company's account. However, the very next day, the company transferred another 3,300 baht into his account without his consent and notified him that he now owed 5,217 baht by September 17. As the repayment deadline approached, Boonrop was bombarded with calls from both staff members and AI-powered systems throughout the day, leaving him no time to work. He has now decided not to repay the money, fearing that any repayment will trigger another unwanted transfer. Boonrop says the lender also harassed two contact numbers of people he knows, and he wants his case to serve as a warning to teenagers and students who may fall victim to such schemes and find their studies disrupted by constant collection calls.
