22-07-2025
- Business
- New Straits Times
'I fear for my family': Father severs ties with son over repeated loan shark debts
KUALA LUMPUR: A heartbroken father has cut ties with his 22-year-old son, who repeatedly borrowed money from loan sharks and racked up debts totalling around RM150,000.
Lim Kian Boon, a night market hawker, said the decision was necessary to protect the rest of the family – including elderly and young members – from harassment by loan sharks.
He revealed that his son first borrowed RM50,000 three years ago. Although the family helped settle the amount, the son later took another RM55,000 loan without their knowledge, China Press reported.
"I only found out about the second loan when the loan sharks called me directly," he said during a press conference today, accompanied by Selangor DAP Socialist Youth (DAPSY) secretary Lee Woon Bin.
His son, who is also a night market vendor, offered little explanation for his borrowing – only citing cash flow problems related to his business.
Despite promising not to repeat his actions, he went on to take a third loan of over RM20,000 in May. Loan sharks eventually turned up at the family's doorstep.
When the family confronted him, he again promised to stop. But Lim said a fourth loan of RM25,000 was soon taken.
"For the first three rounds, I borrowed over RM100,000 from relatives and friends to settle his debts. Even my 70-year-old father chipped in. Though the debts have been cleared, I'm now repaying RM5,000 a month to those who helped," Lim said.
He added that during the most recent incident, his son's girlfriend even pawned her gold jewellery to help repay the loan.
"I just can't keep helping anymore. I have to protect my family. Our home has elderly people and children. I fear for their safety," he said.
Lim noted that his son recently posted on Facebook, hinting at wanting to borrow again – a move he said would test whether cutting ties would deter loan sharks from targeting the rest of the family.
