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-   -   Personal Loan from Licensed Money Lender (https://forums.hardwarezone.com.sg/credit-cards-line-credit-facilities-243/personal-loan-licensed-money-lender-2471084.html)

wilcom79sg 19-08-2009 08:50 PM

Personal Loan from Licensed Money Lender
 
Hi all,

Is there any one here ever take up loan from Licensed Money Lender in Singapore?
Are they safe to approach?
Care to share your thought here....

eddy_wilkinson 28-12-2009 02:36 AM

Quote:

Originally Posted by wilcom79sg (Post 39707497)
Hi all,

Is there any one here ever take up loan from Licensed Money Lender in Singapore?
Are they safe to approach?
Care to share your thought here....

You can refer to http://sgloancritic.blogspot.com/ on the article about singapore private moneylender

Thai_Rak_Thai 19-01-2010 09:16 AM

very expensive

purplewave 09-02-2010 02:31 PM

very good blog

thehiongster 09-02-2010 02:32 PM

yes its good

dlocenot 09-02-2010 08:51 PM

Nice style!!

benedict888 09-02-2010 10:40 PM

try GE money?

they call up offer me personal loan

charmingaladdin 10-02-2010 10:06 AM

approach GE money or banks...NEVER go to those pte licensed moneylenders...if u dun believe us, go to sgloancritic.blogspot.com n u'll noe what we r trying to say

avatar1881 06-07-2011 11:47 AM

Can see there r a lot of such ads in New Paper and Waobao.

Yea. Nice and informative Blog: sgloancritic.blogspot.com

So Loansharking is legalised in sg now?:s27::s27:

ccssgm 06-07-2011 03:52 PM

Same as ah long if cannot afford to pay

SBS2716G 07-07-2011 12:24 PM

Quote:

Originally Posted by avatar1881 (Post 57430726)
Can see there r a lot of such ads in New Paper and Waobao.

Yea. Nice and informative Blog: sgloancritic.blogspot.com

So Loansharking is legalised in sg now?:s27::s27:

Yes legalised. So all ah long go register companies liao. Can lend legally at high interest. Only problem is that they still use same tactic to chase for money. I think govt should ask anyone who wish register as money lender to give $1 million as deposit first. Then less ppl will go register.

ccssgm 07-07-2011 06:43 PM

Legal AH LONG
Better dun try

LonelyMan 16-09-2011 08:40 PM

In terms of preference:

1. Parents
2. Siblings
3. Relatives
4. Friends
5. Interest Free Instalment from Banks
6. Personal Loan from Banks
7. Interest Free Balance Transfer from Banks
8. Cash Advance from Banks
9. Credit Card
10. Illegal Moneylender (Ah Long)
11. Licensed Money Lender

Why Ah Long over Licensed Money Lender? Simply because you can dun pay up and Ah Long cannot sue you. Second reason is Licensed Money Lender charges more interest (10%++ per WEEK) than Ah Long (5% a week). Additionally, there is late payment charges on top of the higher interest charged (none of these 2 are having any cap at the moment).

Some Licensed Money Lenders also used scare tactic to make you repay money, pressuring you by knocking on the door to shame you. Plus they have the law with them.

I have worked with people who owes money to Licensed Money Lender, MP simply refer to me and refer back to MP since they voted to pass the bill in parliament.

NY__chickenpie 02-01-2012 11:00 PM

avoid them like plague, dun touch with a 100 m pole, they are poisonous mushrooms

abdrazak84 05-01-2012 01:58 PM

Go to local banks. GE-money has been acquired by Standard Chartered by the way.


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