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Old 05-10-2018, 08:18 PM   #4894
Join Date: Sep 2018
Posts: 329
As far as I know, it will stop rolling once it's at bad debts. However, it doesn't deter them to get a lawyer to write writ of summons. To be frank with you, there are many smaller firms willing to help them write at a lower cost to assist them in recovering the money. Else, if everyone rides on the mindset of not returning LML upon borrowing, there should already be lesser LML in the market now, but the business is still blooming.
Business is blooming because there are many people (maybe be more than 1 millions?) who are unable to borrow from banks. Even if they issued writ of summons etc, if the person has no house no asset, no money in banks, nothing to sell, what can they do? Waste lawyer fees?
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