Licensed Money Lender

need advice on this topics, as I'm considering of taking a loan from licensed money lender.

Anyone has experienced with this ?
Can advised what is the estimate interest rates ? how does it works ?
Is the interest higher than bank over-draft ?

http://www.singsupplies.com/showthread.php?102032-Licensed-moneylender-fined-S-6-000&highlight=licensed+moneylender

http://www.singsupplies.com/showthread.php?101075-Licensed-moneylender-faces-90-charges&highlight=licensed+moneylender

http://www.singsupplies.com/showthread.php?103156-Ex-licensed-moneylender-fined-214k-on-30-charges&highlight=licensed+moneylender

http://www.singsupplies.com/showthread.php?100803-Licensed-moneylender-fined-31-000-for-breaching-rules&highlight=licensed+moneylender

http://www.singsupplies.com/showthread.php?100779-Licensed-moneylender-fined-S-31-000&highlight=licensed+moneylender

http://www.singsupplies.com/showthread.php?89950-Licensed-MoneyLenders-Police-Report-Licensed-Loan-Shark-Straits-Times-22-4-11&highlight=licensed+moneylender

http://www.singsupplies.com/showthread.php?96292-Loan-sharks-masquerading-as-licensed-moneylenders&highlight=licensed+moneylender

http://www.singsupplies.com/showthread.php?97526-First-licensed-moneylender-charged&highlight=licensed+moneylender

alvin36 said:

need advice on this topics, as I'm considering of taking a loan from licensed money lender.

Anyone has experienced with this ?
Can advised what is the estimate interest rates ? how does it works ?
Is the interest higher than bank over-draft ?

Click to expand...

Dont be stupid. I know someone too stupid loan from so called licence Ah Long.
Interest will be about 5%/week. Really stupid.
If cannot manage to pay the money lender will keep calling, come knocking on door and will also keep calling the person company.
Please get some job. Why need to loan money?