@alvin36 - Thank you for sharing about your friend's story. will you be able to get your friend to share about their experiences with licensed lenders & help new borrowers make better borrowing decisions ? - https://www.onelyst.com/mlconfession
When I ran illegal loansharking business, the interest was 15% PER MONTH 1st term discounted upfront. And I was very kind and flexible. If you have no currency, you can pay with your limbs.
Together with pap, all these money lenders leaders shall goto hell for leveraging on poor people.
Why bother being an illegal ah long? Might as well be legal money lender!
anyone has an insight of how licensed money lender works ?
how to negotiate for a settlement ?
can MP help ?
There's no need to blame them. If they took the loan and and can't repay, just break their limbs.
It's very logical, e.g. he owes S$1k and couldn't pay. Just think of it as limpeh S$1k don't want and buy his leg. Breaking his leg is fun enough to worth S$1k. But make sure you break his leg hard to confine him to wheelchair for the rest of his life to get back your money's worth.
That's true. That means the rich people also go hellAfter lending to so many poor people who can't repay their loans, the money lenders will have to start borrowing from rich people.
Should be "Licensed Money Lender is WORSE than AH LONG.".
"Worse" is comparative.
"Worst" is a superlative.