I have a debt and charged me with high interest rate, what should I do?
I borrowed money from a person that I know offers a loan shark as he promised me an immediate financial help for my daughter that is in the hospital. I am a construction worker and I am incapable of paying the debt plus their high interest rate. The loan shark gave me a short span of time to pay them back. As a result I was not able to pay them with the given due date and they threatened me with violence like painting on our gates.
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You can immediately report to the authority a potential loan shark given that they gave you a higher interest rate above than legal. Any debtee that threatens or uses violence to collect debt may be reported to the police, illegal or legal, as it against the law. Your failure to pay the debt is not a criminal offense given that you are willing to pay but lacks time.