Loan Shark Harassment and how to stop it

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khunjuno

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Guys what you mean by defer payment ? How will it caused the loan to snowball

It goes like this. Initially, the loan is say 1000, 1400 to clear and 400 as defer payment. In the perfect world, if you have 1400, you can make a clear payment to them and they will consider the loan settled. So you borrow 1000 you pay 1400. If you didn't do anything with the money, your cost will be 400 as interest.

Defer payment means either 1) you cannot pay the 1400 to clear, so you pay 400 to pay the 1400 at the next payment date (1 week, 5 days, whatever), or 2) you can pay the 1400, but they give tons of excuses why you can't pay that 1400 today (no account, worker sick, worker go back Malaysia etc), so you have to pay 400 to pay 1400 at the next payment date. Still with me?

How the loan snowballs, is by multiple deferred payments, your cost will go up significantly. Imagine you defer 3-4 times like what some of us did. 400 x 4 is 1600. On top of that, you still need to pay 1400 to clear the loan. So you will pay 1600+1400 = 3000 to clear a 1000 loan. Your cost is almost 2000 in interest just to clear that loan. And that 3-4 times defer can go by very quickly. Those 7 day loan one just defer a month and magically the amount explodes. Those 5 day one lagi worst.

This effect is magnified when the loan amount is small, because most WAAL (WhatsApp ah long) charge very high interest in small loans. $350 loan clear $550 defer $200. Defer 2 times and he already earns back the base just on interest alone. You get my point?


I think they short of acct to let ppl loan or return?
Will the police inform bank to stop the account if its being reported?

I am not sure if police informs the bank and the bank freezes accounts just based on that, because it is unclear if it is a debtor or runner or ah long account that they are freezing. if they freeze every account that has been reported, that's a lot of legit debtors whose accounts will be frozen. I believe they will only freeze if the police has given clear evidence that the account is primarily been used for ah long. Again, all speculation.
 

Lifemistake

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Hi, I've read from the first page till the latest and realised that a lot people been unwillingly involved in this. I gained much more confidence after reading, thanks everyone.

I've borrowed from 2 AL with Malaysia accent but not yet returned the full principle amount.
Will they be more aggresive since they didn't recover the principle amount? Or regardless of anything they will still be aggressive?

What's the worst encounter anyone faced with AL from WhatsApp with Malaysia accent?

I've lodged a police report, should I install a CCTV outside my house just in case? Or those installed at the stairway and lift works?
 

Sharuu

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It goes like this. Initially, the loan is say 1000, 1400 to clear and 400 as defer payment. In the perfect world, if you have 1400, you can make a clear payment to them and they will consider the loan settled. So you borrow 1000 you pay 1400. If you didn't do anything with the money, your cost will be 400 as interest.

Defer payment means either 1) you cannot pay the 1400 to clear, so you pay 400 to pay the 1400 at the next payment date (1 week, 5 days, whatever), or 2) you can pay the 1400, but they give tons of excuses why you can't pay that 1400 today (no account, worker sick, worker go back Malaysia etc), so you have to pay 400 to pay 1400 at the next payment date. Still with me?

How the loan snowballs, is by multiple deferred payments, your cost will go up significantly. Imagine you defer 3-4 times like what some of us did. 400 x 4 is 1600. On top of that, you still need to pay 1400 to clear the loan. So you will pay 1600+1400 = 3000 to clear a 1000 loan. Your cost is almost 2000 in interest just to clear that loan. And that 3-4 times defer can go by very quickly. Those 7 day loan one just defer a month and magically the amount explodes. Those 5 day one lagi worst.

This effect is magnified when the loan amount is small, because most WAAL (WhatsApp ah long) charge very high interest in small loans. $350 loan clear $550 defer $200. Defer 2 times and he already earns back the base just on interest alone. You get my point?




I am not sure if police informs the bank and the bank freezes accounts just based on that, because it is unclear if it is a debtor or runner or ah long account that they are freezing. if they freeze every account that has been reported, that's a lot of legit debtors whose accounts will be frozen. I believe they will only freeze if the police has given clear evidence that the account is primarily been used for ah long. Again, all speculation.

No, police have no jurisdiction on individual bank accounts. If like that they will be very busy and our banks will be unreliable. Banks also have obligation to protect customer data. Ah longs know this, that's why they make the runners open bank account. Having said that, NOBODY knows exactly how banks work and how their procedures are, so feel free to invent stories to protect yourself if you have to. They're doing it already, close bank account la, bank account jam la. Smoke screens.
 

Sharuu

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Hi, I've read from the first page till the latest and realised that a lot people been unwillingly involved in this. I gained much more confidence after reading, thanks everyone.

I've borrowed from 2 AL with Malaysia accent but not yet returned the full principle amount.
Will they be more aggresive since they didn't recover the principle amount? Or regardless of anything they will still be aggressive?

What's the worst encounter anyone faced with AL from WhatsApp with Malaysia accent?

I've lodged a police report, should I install a CCTV outside my house just in case? Or those installed at the stairway and lift works?

STOP FUNDING CRIMINALS. DON'T PAY ANYTHING.
 

khunjuno

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Hi, I've read from the first page till the latest and realised that a lot people been unwillingly involved in this. I gained much more confidence after reading, thanks everyone.

I've borrowed from 2 AL with Malaysia accent but not yet returned the full principle amount.
Will they be more aggresive since they didn't recover the principle amount? Or regardless of anything they will still be aggressive?

What's the worst encounter anyone faced with AL from WhatsApp with Malaysia accent?

I've lodged a police report, should I install a CCTV outside my house just in case? Or those installed at the stairway and lift works?

Regardless of anything, they will be aggressive. Just block and ignore them. Change number if you have to, it only costs $30+.

Since you already lodge a police report, don't pay already lah. Install CCTV if you want, paste report outside if you want. If they want to come, they will come regardless of what you have outside your house.

Just remember: Don't pay anything, if they harass, find your resolve to NOT PAY ANYTHING ANYMORE.
 

khunjuno

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No, police have no jurisdiction on individual bank accounts. If like that they will be very busy and our banks will be unreliable. Banks also have obligation to protect customer data. Ah longs know this, that's why they make the runners open bank account. Having said that, NOBODY knows exactly how banks work and how their procedures are, so feel free to invent stories to protect yourself if you have to. They're doing it already, close bank account la, bank account jam la. Smoke screens.


That's what I think too. Apart from court orders, I've never seen bank accounts being frozen. Doubt they'll just any old how freeze bank accounts because a police report says so. lol
 

Sharuu

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That's what I think too. Apart from court orders, I've never seen bank accounts being frozen. Doubt they'll just any old how freeze bank accounts because a police report says so. lol

They say bank freeze, you also say freeze la. Make up fake receipts and when they say never receive the money, say frozen. When they show you receipt if you borrow, say never receive and then give your friend's bank account and ask them send again. You have photo editor at your disposal. If can filter celfie, sure can create fake receipts. Who gonna know also. Only the bank. And they sure AF won't tell anyone anything. So go crazy!
 

Jjlin1205

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The best is dont borrow. Live within ur means.

Yes...like me I got stable job but got addicted to gambling after big win...lose tons of money then chase lose borrow from almost all the banks before new ruling bank, license and Al..my fiance left me coz of my habit. any gambler here.i only.gambler will borrow from Al coz they have this thinking that win Liao can return in one shot..
 

Jjlin1205

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Hi, I've read from the first page till the latest and realised that a lot people been unwillingly involved in this. I gained much more confidence after reading, thanks everyone.

I've borrowed from 2 AL with Malaysia accent but not yet returned the full principle amount.
Will they be more aggresive since they didn't recover the principle amount? Or regardless of anything they will still be aggressive?

What's the worst encounter anyone faced with AL from WhatsApp with Malaysia accent?

I've lodged a police report, should I install a CCTV outside my house just in case? Or those installed at the stairway and lift works?
Ignore there msg..don't see or else u be frightened or go YouTube view all those video photo and message that al post after awhile u be numb
 

25chic

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Use google maps and search neighbourhood police centre. Just go to the nearest one. Tell the officer that you are here to make a police report regarding harassment of debtor. They will give you a queue number. Wait for queue number, then verbal diarrhoea everything to the officer when it is your turn. They will assign a case officer to you. Case officer may or may not rope in your help to set up ambush for the ah longs. If you lazy or don't want to trouble yourself, just decline that offer. Anyway they mostly catch debtors like us, except those debtors more bodoh to work for the ah long.
So far, have they harrassed u at your house? How do you cope?
 

Jjlin1205

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Total 6 loans from 5 AL. Total Clear Amount is close to $8k. Paid almost $3k in different deferments and I finally realised all is link to the same bank accounts.
Is always the case borrow from A then B offer u take b money pay a then c offer u..that y u will die very fast if u continue
 

25chic

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Yes...like me I got stable job but got addicted to gambling after big win...lose tons of money then chase lose borrow from almost all the banks before new ruling bank, license and Al..my fiance left me coz of my habit. any gambler here.i only.gambler will borrow from Al coz they have this thinking that win Liao can return in one shot..
Not necessary a gambler you will turn to AL. Like myself, am tight in finances and was at my wits end when I started receiving these marketing scams. Easier said to ignore but when you’re in dire situations these sharks know who to target somehow.
 
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25chic

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Is always the case borrow from A then B offer u take b money pay a then c offer u..that y u will die very fast if u continue
Yes, that’s what happened to me. Apparently A, B & C I think happens to be the same AL. They know when to text esp promote on the days I was due to pay. Now am stuck.
 

khunjuno

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Yes...like me I got stable job but got addicted to gambling after big win...lose tons of money then chase lose borrow from almost all the banks before new ruling bank, license and Al..my fiance left me coz of my habit. any gambler here.i only.gambler will borrow from Al coz they have this thinking that win Liao can return in one shot..

Literally same situation as you, except the fiance part. Gambled, initially won, then lost, borrow from banks, licence, al, friends etc. Finally woke up after this whole AL thing blew up. In the process of restructuring my debt now.


So far, have they harrassed u at your house? How do you cope?

No harassment so far, but still ready for it. Living one day at a time, every time open door will check and hope no splashed paint

Is always the case borrow from A then B offer u take b money pay a then c offer u..that y u will die very fast if u continue

Yes, I have I think 3-4 AL all the same group, all appear one after the other.
 

25chic

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Literally same situation as you, except the fiance part. Gambled, initially won, then lost, borrow from banks, licence, al, friends etc. Finally woke up after this whole AL thing blew up. In the process of restructuring my debt now.




No harassment so far, but still ready for it. Living one day at a time, every time open door will check and hope no splashed paint



Yes, I have I think 3-4 AL all the same group, all appear one after the other.

How long has it been since u last paid or decided to stop payment? I haven't block their messages but they have been quiet since last 2 days. Should I start blocking?
 
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