Fozia Hakim

Loan description:

Fozia Hakim lives in Lahore in an area called Siddiqa Colony. She is 37 years old and has no children. She is living with her sister in law (brother’s wife) who is widowed with four children. In the picture Fozia is standing with her nephews, nieces and sister in law. Fozia had passed very tough life. After one year of marriage (about 17 years ago), she gave birth to her son, while coming back home she met with an accident and after that her husband left her and never saw her again. The son also died about one year ago with the accident. After the death of Fozia brother she and her sister in law are taking care of house work and earning an income to manage household expenses. She works in a printing press and earns about 8,000 Rupees in a month. One of her younger sister was also dependent on her, about three years ago she had made arrangements for her sister marriage and for this she ran short of money and tried to get a loan from a relative, but failed. She then didn’t have a choice but to take a loan on heavy interest from a local money lender. She asked for a loan at the rate of 180% per annum. She obtained the loan about two years ago. She almost paid 72,000 Rupees so far as interest while principle amount is still outstanding. She is very worried and does know what to do. She wants to get rid from this heavy interest based loan. She is feeling it’s a big burden on her house. She requested for a loan to get out from this trouble. She will pay back loan in 14 Installments with no interest charged.