Little did she know that the loan shark, based in Nakhon Phanom province, didn’t expect just huge interest charges but also land plots she had put forward as collateral.

The collateral was in the form of a house and land, which belongs to Nuankham’s elder sister, and more than 30 rai of Nuankham’s paddy fields. Together, the estimated value at the time of seeking the loan was about Bt350,000.

Nuankham, 48, said she initially protested as the demanded collateral had a value much higher than the loan amount of Bt150,000. But the loan shark assured her she would never cheat anyone.

“The problem was that when I took out a soft loan to clear my debts with her, she demanded a Bt420,000 payment. This demand was made after I had paid her interest charges of Bt5,100 a month for two consecutive years,” Nuankham said.

She said the loan shark had ignored her pleas.

“My husband has had brain problems. I have had to find money for his medical expenses. I also have two children to support,” she said.

As the loan shark’s demand for the return of her collateral was too high, with the latest demand reaching Bt850,000, Nuankham decided to lodge a complaint with a government centre in her home town. She also petitioned public prosecutors in Nakhon Phanom.

“There were no fruitful results. So, I talked to other victims of the loan shark and we decided to lodge a complaint at Government House together,” Nuankham said.

She said officials assured her that the Office of the Prime Minister would prompt local officials to act.

“Local officials indeed helped arrange a negotiation between us and the loan shark. Even the Nakhon Phanom governor was present,” Nuankham said.

She said that thanks to the negotiations mediated by senior officials, she could get her land plots back with a payment of Bt170,000.

“But other loan-shark victims are not as lucky. Many of them are still unable to get their assets back,” she said.

Pad Jantapinij, 79, said he was among the victims and had fought hard for years to win back the land plot he had put forward as collateral.

“I sought out a loan to fulfil my plan to set up a small rice mill. I needed just Bt60,000 more for the implementation. So, I turned to this loan shark. She’s a businesswoman,” he said.

The loan shark, who had also exploited Nuankham, demanded that he used his land plot worth Bt120,000 as collateral.

“After I signed all the papers, including something like a mortgage agreement, she gave me just Bt48,600. She said Bt11,400 was for other fees and interest charges of the first three months,” Pad said.

He said that after some time, he had accumulated enough money to repay the debt but she did not allow him to settle the final payment.

“The first time I went to her motorcycle showroom, I was told she was on an overseas trip. The second time, I went there to meet her, I was told she was in other provinces. Such excuses dragged on until one day a court order reached my home. She wanted to take my land plot,” Pad said.

He said her firm went to court accusing him of failing to pay her Bt196,537 in principal and interest.

“I’ve sought help from a volunteer lawyer. Finally, I’ve won the case. The court has ordered me to pay her firm just Bt48,600,” he said.

Pad said the loan shark has victimised many people.

Nakhon Phanom’s police chief Pol Maj-General Wusichan Yankittikul yesterday led a team searching the loan shark’s three motorcycle showrooms in Nakhon Phanom province.

The court has already issued an arrest warrant for her on charges of public fraud, imposing a too high interest rate, and document forgery.

She has denied any wrongdoing, saying that she had never exploited borrowers.