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Old 03-07-2018, 09:36 AM   #1465
Junior Member
Join Date: Jul 2018
Posts: 5
Hi all,

Just wanted to share my ongoing story as well...

Some time back got loan from ah Long... 1 become 2, 2 become 3, now owe 6 ah Long money, ranging from $350 to $2k. Thing is, I havenít been able to clear my loans, some clear partially, most of them just keep deferring because either they no account or I not enough money to pay them their clear amount. All started from weekly trial loan with promises for bigger loan... sigh.

Coming to my breaking point because I canít afford to even defer them now. Searched for some help online and found this thread, thankfully there are many people who gone through the same as I did.

So from what I gather...

1) stop paying them, endure the harassment and eventually itíll go away?

2) report to police for any harassment and vandalism

3) inform NOK and company about the issue
- this one I find hardest to do because of the humiliation and stigma which comes with borrowing money from loansharks.

This coming Wednesday supposed to clear one of my loans, knowing the guy, most likely will ask me to defer. If I stop paying, he will be the first. What should I expect?
First, brace yourself for the harassment calls that start coming. He will also most definitely call your NOKs and even shout vulgarities at you and your NOKs. But important thing is not to get in contact and talk to the ah long; cut off all communications with them. The loan sharks are hiding in the dark and we are out there and the moment we stop getting in contact with the loan sharks, they are more panicked than us. That is why they resorted to all those harassment tactics to get us out and communicate with them again.

Secondly, you definitely have to let your NOKs know what happen. You rather let them know early than them having a shock and start panicking when ah longs start to call them and harass them. If possible, get someone close to your NOKs to accompany you to talk to them.

Then, just bear with all the stuff that might come from the ah longs and ride out the whole ordeal. Might be a few days or a few weeks but definitely the harassment will end when the ah longs knew they are not going to get anything from you again. They wont waste their time on doing something which is not going to reap rewards for them and they will move on to try their luck on other victims.
Gooners is offline