Recent content by sgloancritic

http://sgloancritic.blogspot.com

I have been following these licensed Ah Long for more than a year. They increase the acceptance fee by so much that interest is at least 40% per month! Read my blog: http://sgloancritic.blogspot.com I have update the blog periodically on their latest charges And how they deal with defaulters.

Re: Licensed MoneyLenders + Police Report = Licensed Loan Shark ? ;Straits Times 22/4 As you have quote my blog, and I have also update periodically. The fact is: Loansharking is now legal as long as you have a license. It is better to give them license and tax them rather than chase after...

The catch lie in their acceptance fee and after interest, it can easily be 40% interest in total for 1 month. The loophole is the lender can charge whatever amount of interest to those which earn more than 20k per annum As long as both party agrees. When one is desperate, he won't see it...