Wonder Hlongwa
It was handing over my autobank card and pin number that convinced me my visit to a loan shark was not going to be pleasant.
A friend had told me that loan sharks were the quickest moneylenders in the city.
The sign at the one in Braamfontein certainly seemed to back this up: “Cash loans up to R2 000, no waiting, no hassle.”
An arrow pointed to a busy informal shopping complex where I was directed to the moneylender’s office.
Inside a small office, a middle-aged white man in a grey T-shirt greeted me politely and asked if he could help me. “Yes,” I said. “I need a loan of R500.”
After asking for my employment status, my credit records and a minimum of personal information, he agreed.
“Okay,” he said. “You must give me your salary advice slip, three months’ bank statements, ID book – the real one, not a copy.”
And he wanted my autobank card, with the pin number. I hummed and hawed, muttering about whether this was absolutely necessary.
“But that’s a condition of your getting a loan,” the loan shark said.
Eventually, feeling very insecure, I parted with my most precious item – my autobank card. I didn’t have my original identity document, but he accepted a copy before disappearing into the back of the office, where I assumed he was checking my credit status with a credit bureau.
Less than 15 minutes later he came out smiling. “There’s only one thing to do now,” he said. “We need to check your card.” His assistant, Selby, was sent with me to the ATM to check that I had given them the right pin number. “It’s working,” said Selby with a cynical grin.
On our return, Selby’s boss was waiting with a loan form. As soon as Selby confirmed that my card had worked, his boss showed me where to sign for my R500. They would keep my pin number and autobank card, taking out my repayments as soon as there was money in my account.
That’s when the trouble began -I told them I was a reporter checking on how they conduct their business. The loan shark threw my belongings back at me and ordered me out of the office.