This is how stupid sinkees are ....

[Leongsam]

What lah ...that is not loan shark ...it is a finance business. Yeah, the rates are higher but they don't beat you up or kill you if you end up not paying.

Yes they threaten defaulters just like the Sinkie loan sharks.

I live here. You can't tell me what happens or doesn't happen in NZ because you don't get first hand info the way I do on a daily basis.

I can assure you that ALL the ills that befall the useless, lazy and misguided people in Singapore also befall kiwis who belong to this category. It's on the news nightly.

http://www.3news.co.nz/South-Auckla...thods/tabid/423/articleID/324435/Default.aspx

An unregistered south Auckland finance company is charging up to 450 percent interest on loans to those who want to borrow money short-term, and threatens to "get dirty" if you don't pay.


A 3 News investigation has revealed the Twenty Fifty Club (TFC) is operating openly without fear of law enforcement, despite a Government crackdown.
During a meeting with a TFC loan issuer, an undercover 3 News reporter was told if payments can't be met "it gets rough".


"If you don't pay that money, we charge another $50 collection fee and send our boys out to get that money […] it gets dirty."


Asking for an extension would be "very dangerous", the loan issuer warned.


"I don't know what they do, we've got rough boys out there."


So how do the company's loans work?


"Every time you borrow money, if it's $100, we charge you $50, if it's $200, it's $300. It's half the amount of money that you are borrowing," the loan issuer told our reporter.