3
NY
Thursday, June 7, 1973
LOAN SHARK VICTIMS URGED TO SEEK LEGAL ADVICE
Victims of "loan sharks" were today urged to seek legal advice
if they have been trapped into paying extortionate rates of interest.
This advice follows recent newspaper publicity about the plight
of a hawker who was assaulted after she was unable to continue paying exorbitant
amounts of interest on a loan,
A government spokesman said: "The unfortunate victim in this case
clearly was not aware that the courts have power to examine wholly unreasonable
loan transactions and grant relief to borrowers who have been trapped into
paying extortionate rates of interest."
Victims of unscrupulous money-lenders are advised to seek legal
advice from a solicitor, or approach the Legal Aid Department, Top Floor,
Victoria District Court building, Battery Path, Hong Kong.