Loan sharks suck pensioners dry

Loan sharks have been accused of exploiting pensioners outside the Elsies River civic centre.

A loan shark sits outside the Elsies River Civic Centre on 1 November 2012 waiting for pensioners to receive their money, so she can get paid. Picture: Giovana Gerbi/EWN

CAPE TOWN - A concerned Elsies River resident told Eyewitness News on Thursday he has spent years watching a loan shark stripping pensioners of their monthly payments.

The whistleblower said the woman sits near the local civic centre on payout days to cash in debts.

He claimed she charges exorbitant interest rates.

The South African Social Services Agency (Sassa) admitted that micro lenders are problematic, but difficult to apprehend.

The resident is adamant the woman who sits in her old, white car abuses the elderly and robs them of their pensions.

"She's really rude to the elderly people, it's terrible!"

Eyewitness News approached the woman who was flipping through two notebooks with hundreds of amounts and figures scribbled down.

"I don't lend money, I'm selling food, sorry."

Mary Isaacs said she has nothing to hide as she sat in her car flipping through her notebooks.

When asked what the numbers were for in her notebook, she responded by saying, "No, this is food that the people take."

Many people gathered around her car before defending their relationship with Isaacs.