Woman Drowns in Debt Due to Loan with 20% Interest Every Week
A woman reportedly drowned in debt because of a loan that charged her a staggering 20% weekly interest.
Recently, the Facebook page Collections QD shared the post of a woman falling deep into debt due to 20 percent interest every week. The post garnered various reactions from the online community.
According to the woman identified as Quennie Dy, she borrowed money back in 2023 from someone named Irish. The loan came with a weekly interest rate of 20%, which added up quickly. At one point, she was paying as much as P13,000 in interest every week without delay.
Despite her efforts, things took a turn when she stopped making payments in August 2024. Because the interest kept piling up, her total dues grew even larger.
Quennie shared that she has already paid back the original loan amount of P66,000, but the remaining balance, which were made up entirely of interest reached over P122,000. As of now, she still owes around P65,000 in interest alone.
Dy explained that she tried her best to settle her debt little by little. She admitted that she kept giving promises to pay once she received a commission, which unfortunately hasn’t come through yet.
The woman also tried negotiating for more time to pay, but every time she did, her lender would publicly post about it online.
The lady netizen said she had settled her debts with others in the past through gradual payments and understanding arrangements. However, it became more difficult due to the high interest and pressure.
Quennie asked for patience, as she continues to pay what she can, even if it’s slow.
Here is the full post:
“I Quennie Dy admitted naka loan ko kay Irish last 2023 pa with 20% interest weekly never ko nag delay dati naga 13k ako weekly interest. Kamo nalang total. Pero nag stop ako ng payment august 2024. Naipon ang lahat ng interest ko kaya nag daku gid pero gin paningkamotan ko na amat2 P66,000 CAPITAL na PAID ko na.
Ang interest nalang wala na bayaran which is P122k+ interest lang na. Pero na amat amatan ko na nasa P65,000 balance ko subong! interest lang po yan.
I admitted gid nga ga paasa ko kay may gina hulat gid ko na commission ko. Pero until now wala pa gid. Last thursday nag hangyo ko ddto na pwede amat amatan ko pero nag hangyo lang tani ko na kung pwede tomorrow ko ka hatag kay hindi gid dali maka pangita agad.
Gusto ko man ma bal an niyo side ko. Na ga bayad gid ko. nakapoy napud ko sa iya everytime na mag hangyo ko sa oras or date man lang mag post2 dayun. Oo damu ko na kuhaan pero gin settle ko na, amat amatan ko kag tanan sila naka intindi gid. Nag settle nata sa brgy niyo tani ma intindihan mo man na hindi gid makaya sa date na gin promise ko kay asta subong wala pagid gina hulat ko. Ga amat amat man tani ko never ko nag kulang. Diri lang. Salamat”
The internet users expressed their reactions to the post:
