No money to pay loan sharks Aunty jumped at Hougang

[zeddy]

Re: No money to pay loan sharks Aunty jumped from Hougang

Oh? Because she gets familar and hence more comfortable with the person?

Could be.. Maybe money also plays a part too..

 

[GoldenDragon]

5K -> 54K+ ... within 20 days

is almost 13% per day compounding interest...

got such thing or not? I don't know..

Never heard of this. The most jialak I know of is known as 'ark siao'. For every $1000 loan, you repay $20 a day until you pay up the 1k. That means, 60% interest a month!

 

[Suzie]

48岁文员廖丽瑞，向阿窿借5000元，不到20天就滚到5万，怎么还都还不完，后港阿嫂不堪阿窿逼债，4月9日早上凄然坠楼身亡。她临终前传简讯，泪求老公照顾一对儿女。

案件发生在早上6时20分，地点在后港51街第569座组屋。她的丈夫杨维礼（48岁，德士司机）含泪受访说，妻子因欠公司钱，两个多星期前向阿窿借约5000元。“没想到阿窿利息乱乱算，迟还一天罚500元，她一迟还，阿窿就说‘我用你的身份证借新的阿窿来

还’，最后滚到欠11组阿窿，她没法应付，只好跟我坦白。”
算一算，不到20天时间，债务已从5000元滚到5万4000多元。

Police please trace the sms . Case solved .

 

[YellowRibbon]

Police please trace the sms . Case solved .

Sim card dont belong to the ah long. But i thought they should have the technology to trace the location via the signal ? Even if trace the location, how to prove who is the one who sen out the sms ? Can easily get scape goat ? What if the sms is sent from oversea ?

So not very easy

 

[Narong Wongwan]

Sim card dont belong to the ah long. But i thought they should have the technology to trace the location via the signal ? Even if trace the location, how to prove who is the one who sen out the sms ? Can easily get scape goat ? What if the sms is sent from oversea ?

So not very easy

Ah Long not terrorists or political dissentients....they wont waste so much resources on such cases.
Also phone are probably diverted and even roaming overseas.
Ah Long syndicates now very clever....always switching numbers and open for business 2 hours per day.
That said if mata really want to catch, sure can catch.

 

[aStranger]

Re: No money to pay loan sharks Aunty jumped from Hougang

This article highlights the growing social problems and money issues. And death is seen as the best solution out of the problem.

 

[Jlokta]

Re: No money to pay loan sharks Aunty jumped from Hougang

only true for certain things.......
sinkies vote in pappies everytime but sinkieland going to the dogs.

this one is self fark, sadly 60.1% still love pappies doing it to them.

 

[sleaguepunter]

Re: No money to pay loan sharks Aunty jumped from Hougang

somehow i dun believe the article. the story is onesided, and she mati liao, and her husband can said all he want without anyone knowing the truth. Why she need the $5000 in the first place? And no loanshark worth his salt will lend $5000 to a first time customer with only a IC, mininium need one guarantor before loanshark open his till.

 

[laksaboy]

Re: No money to pay loan sharks Aunty jumped from Hougang

only true for certain things.......
sinkies vote in pappies everytime but sinkieland going to the dogs.

1988

2011

 

[Unrepented]

Just buy cheap foreign local hardware and get a cash top up sim, instant phone number without registration. Sgp operations call foreign service providers, foreign servie provider call debtor in sgp.:p

Ah Long not terrorists or political dissentients....they wont waste so much resources on such cases.
Also phone are probably diverted and even roaming overseas.
Ah Long syndicates now very clever....always switching numbers and open for business 2 hours per day.
That said if mata really want to catch, sure can catch.

 

[Ramseth]

Never heard of this. The most jialak I know of is known as 'ark siao'. For every $1000 loan, you repay $20 a day until you pay up the 1k. That means, 60% interest a month!

The highest of illegal loansharking interests I've heard of is 20% per month, non-compounded, i.e. borrower borrows $1,000 and pays $200 per month as servicing interest (no principal deducted) until at such time, borrower can cough back the $1,000 in one lump sum to settle. If borrower defaults on servicing interest for a month, it'll be rolled onto principal, i.e. basic sum loaned becomes $1,200, then next interest servicing becomes $240 per month, and so on.

 

[Narong Wongwan]

The highest of illegal loansharking interests I've heard of is 20% per month, non-compounded, i.e. borrower borrows $1,000 and pays $200 per month as servicing interest (no principal deducted) until at such time, borrower can cough back the $1,000 in one lump sum to settle. If borrower defaults on servicing interest for a month, it'll be rolled onto principal, i.e. basic sum loaned becomes $1,200, then next interest servicing becomes $240 per month, and so on.

now legal money lender also go by weekly instalments and interests as high as 35% per month........penalties, admin fees all also another big chunk.....heard someone told me recently a $1800 loan late for a day pay interests load on $900 penalty.
Best thing is....everything is legal.

 

[Zombie]

maybe ah long nowadays must have financial engineering degrees for good quality services...

 

[Ramseth]

now legal money lender also go by weekly instalments and interests as high as 35% per month........penalties, admin fees all also another big chunk.....heard someone told me recently a $1800 loan late for a day pay interests load on $900 penalty.
Best thing is....everything is legal.

Well, I'm not familiar with legal moneylenders and their systems. But in the days when my daddy and uncles ran loansharking rings, 20% p.m. max interest was the rule of thumb. The client could get discount down to 15% if with good credit standing or longstanding friendship. With a good guarantor, it could go down as low as 10% but that was about rock botto. That's what we called monthly account 月账。礼拜账 was weekly account, usually for smaller amounts below S$1,000 that had fixed weekly schedule of interest servicing plus reduction in principal on the book. If the client kept up with weekly repayments, after a few months, it'd be paid up.

If the client missed an weekly repayment, the last week's repayment would be considered forfeit and one more week added to repayment schedule, known as 割帐。The interest worked out to average 20% p.m too. 35% is too usurious. By the way, if the client ranroad and disappeared without any accountability 交待，better run far far away and hide not be caught by anyone of us, otherwise we 算账，not necessarily monetary settlement already.

 

[simonsoh]

not easy to catch them lah... all either use sim card registered by foreigner workers or just buy malaysia/ indo pre-paid sim card and operate from batam/ malaysia loh... calling back from batam using batam sim card is dirt cheap. atm accounts even no need to say. just get the debtors to open for them. and since we are on this topic, pls dun be fooled by the efficiency of SPF. everytime media report say 50 loanshark kana caught, 70 kana caught. pui! all go and catch the debtors who are desperate and open atm for sharks. misleading man... people who juz glance will think wah.... mata catch so many loansharks ah....

 

[Soul_Reaper]

not easy to catch them lah... all either use sim card registered by foreigner workers or just buy malaysia/ indo pre-paid sim card and operate from batam/ malaysia loh... calling back from batam using batam sim card is dirt cheap. atm accounts even no need to say. just get the debtors to open for them. and since we are on this topic, pls dun be fooled by the efficiency of SPF. everytime media report say 50 loanshark kana caught, 70 kana caught. pui! all go and catch the debtors who are desperate and open atm for sharks. misleading man... people who juz glance will think wah.... mata catch so many loansharks ah....

How come they never catch the vietnamese loansharks operating at the casinoes? Sometimes I see the vietnamese FLs very cham..... every night sell pussy sell backside at the casino and still cannot clear their debts.

 

[Ramseth]

How come they never catch the vietnamese loansharks operating at the casinoes? Sometimes I see the vietnamese FLs very cham..... every night sell pussy sell backside at the casino and still cannot clear their debts.

Hi there.

1. They're cham because of their own faults.
2. Who force them to gamble?
3. Who force them to borrow?
4. Now blame who?
5. After enjoying all the gambling and borrowing, cry for pity, a profitable way too.
6. Better way still, blame innocent people for not helping them.
7. Cry like heaven and hell owe them fuck!

 

[Narong Wongwan]

How come they never catch the vietnamese loansharks operating at the casinoes? Sometimes I see the vietnamese FLs very cham..... every night sell pussy sell backside at the casino and still cannot clear their debts.

You may be surprised to know that viet chicks actually got a loan culture.
Friends who are viet OKTs says viet chicks love to be in debt...regardless whether they are gamblers or not.
Maybe it spur them to work harder or they just love to live on credit.
And they are very 'steady' borrowers, will pay back loan on time always.

 

[Jah_rastafar_I]

How come they never catch the vietnamese loansharks operating at the casinoes? Sometimes I see the vietnamese FLs very cham..... every night sell pussy sell backside at the casino and still cannot clear their debts.

wah they give money to the casino then ask for money from the other gamblers? How is the fl scene like at the casino?

 

[Frankiestine]

Re: No money to pay loan sharks Aunty jumped from Hougang

Stupid woman, should have just owe the banks then declare bankrupt. There is pretty nothing much the banks can do to you.