Jeffrey* racked up a bill of €30,000, lost his job and even thought of ending his life as he feared there was no solution to the trap of usury.

Doubtful at first, he sought help from Caritas and in a little more than a year has managed to reduce his debt to €10,000 after the rehabilitation agency negotiated with his lenders to wipe out the illegal interest.

It is a breath of air for Jeffrey who was brought up in an exemplary manner but as a teenager started hanging out with the wrong crowd.

“First there was the drinking and the nights out, and then the gambling. I believed I would be able to resist becoming addicted to gambling, but I soon could not keep up with the salary I was earning.

“When you borrow money, you never think of the way you’re going to pay it back, but you’re just relieved that you can keep up with the debt,” the 30-year-old said.

Is it worth it to live in fear, lose your job and sink into depression?

Flanked by his Caritas mentor Louis Bellizzi, Jeffrey recounted how he would gamble the money he had with the hope of winning enough to pay off his debt. But when he lost the little he had, he borrowed even more money from lenders at betting places.

“I dragged my relatives into this problem, lost my job, was always worried and even thought about committing suicide.

Louis Bellizzi helps borrowers reorganise their life and find ways of paying their bills.

“When I first went to Caritas I thought I would never be able to get out of the mess I was in, but eventually I found a job, made new friends and started enjoying life.

“It is never too late, and I urge victims of usury – no matter how old they are – to seek help immediately. There is nothing to be embarrassed about.”

Usury has no gender, age or social background, according to Mr Bellizzi, who has met some 40 usury victims over the past two years.

A retired company director, Mr Bellizzi mentors people who borrowed money from loan sharks and tries to get them back on their feet.

The highest bill he has had to deal totalled a million euros.

“Like other countries, usury is an enormous problem in Malta. We try to empower victims to deal with the problem. This involves dealing with the issues that drove them into usury, negotiating with lenders, finding means to improve the victim’s disposable income and also provide moral support,” said Mr Bellizzi, who works with the rehabilitation agency on a voluntary basis.

Seeking Caritas’ help is usually the victims’ last resort, but the agency, Mr Bellizzi assures, is bound by professional secrecy and it does not contact the police.

Instead, Mr Bellizzi helps borrowers reorganise their life and find ways of paying their bills without sinking deeper into debt. Sometimes he manages to convince lenders to lower their interest rate to the amount stipulated by law.

People who borrow money from loan sharks usually need the money to sustain addiction problems, like drugs, alcohol and gambling. Others believe that usury was a way out of poverty.

It starts off with borrowing small amounts but after the first couple of payments the lender borrows money from someone else to keep up with the first lender.

Desperate borrowers would not think twice about borrowing money just to silence lenders who are continuously chasing them for the money owed.

Debts were also inherited and in one case a widow who had borrowed €7,000 from a woman ended up having to pay back €17,000 to the lender’s granddaughter.

“Shame often holds back people from approaching Caritas, but is it worth it to live in fear, lose your job and sink into depression?”

Caritas may be contacted on 2590 6600 or info@caritasmalta.org.