Woman paid £88,000 for £500 loan

Woman paid £88,000 for £500 loan

A woman paid a loan shark £88,000 over seven years to pay off an initial debt of just £500, a court heard. Debra Wilson, 40, paid the money to meet a debt taken out for a computer.

At one point Mrs Wilson and her husband Kevin were giving Reynolds more than £2,000 a month and were falling further into debt, the court heard.

In May 2005 she had a stroke followed by another in August of that year and then a brain haemorrhage.

Source BBC

Came across this and could not believe it, 88 grand for 500 quid. I know that some might say that they made some bad decisions but circumstances and the lure of more cash sometimes must seem the only way.

Here is a prime example of how compassionate less people have become in these times. With the economic situation as it is it seems that it is "kill or be killed". So to speak.
What I think is even more amazing is that the guy did not even go to prison for it.

Oh and the fact that hey were paying around two grand a month at some point, thats a lot of money.

Would you ever, or have you ever, let it get that bad?

Whoops some how posted in the wrong forum, should I delete it or could someone move it please, thanks.

And Sorry.

Cant see how to delete the thread, I have reproduced it in breaking news. Can someone advise or just kill it?

Thanks

[edit on 5/8/2009 by LestatG]