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Loan Shark Harassment and how to stop it - Part 2

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Old 04-07-2020, 05:02 PM   #2401
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There's a code of conduct for debt collectors in Singapore. But then it's just guidelines and not law.

What kind of behaviour are you referring to?
Rude and aggressive. Threatened to come my house and harass me and my family. This is my first time ever experiencing this.
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Old 04-07-2020, 09:48 PM   #2402
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Rude and aggressive. Threatened to come my house and harass me and my family. This is my first time ever experiencing this.
Is this your first time defaulting payment, or got miss payments before? Sometimes LML can get confrontational with threats if they think borrowers not willing to pay. Maybe you can share more about your situation bro, then can know how better to advise.
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Old 05-07-2020, 12:30 PM   #2403
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Hope everyone is well. Been 6 Weeks all is good! Ghosting has worked very well considering the fact we were only harassed for a few hours. Still staying vigilant maybe they will strike again a couple of years later
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Old 08-07-2020, 05:49 PM   #2404
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Just got a love note on my door, what should I do. They gave me 3 days to call them back
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Old 09-07-2020, 12:40 PM   #2405
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Just got a love note on my door, what should I do. They gave me 3 days to call them back
Is the note from licensed moneylender or loan shark?
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Old 09-07-2020, 11:41 PM   #2406
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Hi Bros , I wish to share my experience where I did not even loan anything or did anything or met anyone , meaning I got harassed like out of the blue (yes I was like WTF ? ) just like that for not doing anything .

After recollecting , I linked it to a LAN shop where I had to put my identification (stupidly enough my IC) to play 3 hours of lan gaming with my friends , it was the typical ah Beng lan shop setup , suspected they targetted me and got my details from my IC or used my IC to borrow money during my lan playing period , thatís why I strongly believed they had my address but not my number .

Yes they splashed paint over my door and wall beside my house with a number to call back.

I called back (using masked number) and gave the guy a lashing , and told him not to bother me after which I reported to the police . They came back I think 1 more time 2 weeks later , tbut everything they did I just updated my IO , after 3 months they stopped

This is just to share this kind of scam harassment also can happen for no reason and happen to anyone . So please do not use your IC or passport as a deposit anywhere

Also to all Bros who are affected by harassment , Just be brave face it and keep the police every update , ignore these idiots

Thanks
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Old 10-07-2020, 12:11 AM   #2407
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Is this your first time defaulting payment, or got miss payments before? Sometimes LML can get confrontational with threats if they think borrowers not willing to pay. Maybe you can share more about your situation bro, then can know how better to advise.
First 2mths was smooth. On my 3rd month, i had a hard time with my work due to CB. Hence lose commission. My due date is mid month but my salary is end month. So i told him i cant make payment. He said will postpone payments to the following week. When due date arrived i still can't commit to pay. Thats when he started all these threats. He claims i am playing hide and seek and merry go round. I know legally they can't do that. But they can legally come over to my house for payments.
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Old 10-07-2020, 12:34 AM   #2408
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First 2mths was smooth. On my 3rd month, i had a hard time with my work due to CB. Hence lose commission. My due date is mid month but my salary is end month. So i told him i cant make payment. He said will postpone payments to the following week. When due date arrived i still can't commit to pay. Thats when he started all these threats. He claims i am playing hide and seek and merry go round. I know legally they can't do that. But they can legally come over to my house for payments.
True that LML can visit your home. But thereís a few things you can consider that might be helpful:

1) When they call or msg you, itís better to pick up or reply to their msg so that they wonít think that youíre hiding from them. If they think youíre hiding, higher chance that they will do home visit. Think about it - if your friend owe you money but ignore your calls/msg, youíre likely to go look for them right? But if youíre responsive, no guarantee but the chance of them turning up at your house is lower. This means, you need to learn how to manage them effectively over phone call or message. There are ways to go about that.

2) Many LMLs contract out to debt collectors (from a separate company) to do home visits. That incurs a cost, so unless you owe a lot or they believe you wonít pay, chances are they are less likely to bear that cost.

3) How many LMLs you owe is also key. If only one, easier to manage. If multiple, you need to learn how to prioritize properly. LMLs will also generally know in their backend if you owe other LMLs money too, so it might influence their tactics towards you.

4) Beyond the immediate problem of your next repayment, itís good to seek some help on how to manage your debt, cope with harassment and organise your financial life to reduce your borrowing situation. There are a few agencies out there who offer such help for free. It will help in the long run.

Hope this is useful bro. Can PM if needed.
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Old 10-07-2020, 08:32 AM   #2409
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Is the note from licensed moneylender or loan shark?
From UML sir. They say give me 3 days, today is day 3.
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Old 10-07-2020, 09:22 AM   #2410
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From UML sir. They say give me 3 days, today is day 3.
Can you share abit more about your loan situation? Itíll help to look at what has happened to decide what is best to do. If itís private, can PM me. Donít panic, there are ways to deal with it.
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Old 10-07-2020, 10:44 AM   #2411
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Hi Bros , I wish to share my experience where I did not even loan anything or did anything or met anyone , meaning I got harassed like out of the blue (yes I was like WTF ? ) just like that for not doing anything .

After recollecting , I linked it to a LAN shop where I had to put my identification (stupidly enough my IC) to play 3 hours of lan gaming with my friends , it was the typical ah Beng lan shop setup , suspected they targetted me and got my details from my IC or used my IC to borrow money during my lan playing period , thatís why I strongly believed they had my address but not my number .

Yes they splashed paint over my door and wall beside my house with a number to call back.

I called back (using masked number) and gave the guy a lashing , and told him not to bother me after which I reported to the police . They came back I think 1 more time 2 weeks later , tbut everything they did I just updated my IO , after 3 months they stopped

This is just to share this kind of scam harassment also can happen for no reason and happen to anyone . So please do not use your IC or passport as a deposit anywhere

Also to all Bros who are affected by harassment , Just be brave face it and keep the police every update , ignore these idiots

Thanks
Wah, when was this?
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Old 10-07-2020, 03:38 PM   #2412
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Can you share abit more about your loan situation? Itíll help to look at what has happened to decide what is best to do. If itís private, can PM me. Donít panic, there are ways to deal with it.
I took a loan from an UML, then subsequently taken more to repay them. One day I felt it was stupid as they use many many tactics and changed the loans to daily repayment. So I went to the police. They were quiet thru CB, Then until 3 days ago I got a note pasted on my door.
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Old 10-07-2020, 05:49 PM   #2413
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I took a loan from an UML, then subsequently taken more to repay them. One day I felt it was stupid as they use many many tactics and changed the loans to daily repayment. So I went to the police. They were quiet thru CB, Then until 3 days ago I got a note pasted on my door.
So you have more than 1 UML loan now yes?

(1) For the UML that left the note, has the total amount you transferred to them (including interest) exceeded your principle loan sum?

(2) Whatís the threat in their note, and whatís your biggest concerns?

(3) Good that you went to the police. If thereís a threat to your safety, good to go again and update on your report.

Donít borrow to repay anymore bro. Itís not worth it. The debt will keep snowballing until you cannot manage.
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Old 10-07-2020, 09:53 PM   #2414
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Wah, when was this?
Right on the morning I completed my first marathon in 2010 . Lol
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Old 10-07-2020, 10:34 PM   #2415
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So you have more than 1 UML loan now yes?

(1) For the UML that left the note, has the total amount you transferred to them (including interest) exceeded your principle loan sum?

(2) Whatís the threat in their note, and whatís your biggest concerns?

(3) Good that you went to the police. If thereís a threat to your safety, good to go again and update on your report.

Donít borrow to repay anymore bro. Itís not worth it. The debt will keep snowballing until you cannot manage.
Yes more than 1 UML, but I suspect they are the same person.

1. Yes I believe so, I closed my account this wonít be able to give exact figures.

2. They asked me to call them, and is giving me 3 days.
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