Loan Shark Harassment and how to stop it

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Ray1969

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Yes am aware of the late fees of $60/mth. But on the 4% is it daily or monthly? I understood that it's 4% interest monthly.

Strange that this particular LML insisted me to liaise with debt collector instead when I popped by their office. I couldn't believe what I just faced. Not surprised if DC is AL.

Normally those in office are in-charge of loan. For payment issue, they will ask you to call their collector. And collector is different from debts collector. For payment negotiation, you have to liaise with the collector. And if no payment or default, the collector will send debts collector to either your house or office and give you a demand letter.
 

25chic

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Normally those in office are in-charge of loan. For payment issue, they will ask you to call their collector. And collector is different from debts collector. For payment negotiation, you have to liaise with the collector. And if no payment or default, the collector will send debts collector to either your house or office and give you a demand letter.

In this case, there wasn't any collector. Straightaway refer to debt collector (DC). Even for payment negotiation they asked to deal with DC. Not sure if this is according to practice and if it isn't, will not hesitate to report. DC contacted me via whatsapp only and LML pushed me to deal with DC. I offered to go down to DC office but DC called LML mobile to speak.
 

25chic

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U better go the debt collector they got licence to visit Ur hse ...I kena before

I nego with DC for instalment but he insisted I make a payment before can do instalment. Very AL right? I even offered to go down to DC office. Told me no payment no discussion. After that reduce the amount and say he nicer now.

Maybe HE WANT TO TRY is it? Strange.
 

Sharuu

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I nego with DC for instalment but he insisted I make a payment before can do instalment. Very AL right? I even offered to go down to DC office. Told me no payment no discussion. After that reduce the amount and say he nicer now.

Maybe HE WANT TO TRY is it? Strange.

Lol!

How long have you been their customer? I'm not sure how LML works, but I'm guessing it's like when banks pass bad debts to their collectors and that means it's off their hands already.
 

Harri83

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I nego with DC for instalment but he insisted I make a payment before can do instalment. Very AL right? I even offered to go down to DC office. Told me no payment no discussion. After that reduce the amount and say he nicer now.

Maybe HE WANT TO TRY is it? Strange.

can you make some payment first then negotiate for the installment ?
 

Jjlin1205

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Lol!

How long have you been their customer? I'm not sure how LML works, but I'm guessing it's like when banks pass bad debts to their collectors and that means it's off their hands already.
Lml is license Al when u signed on the contract terms n condition already stated
 

Jjlin1205

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ANSWER MY QUESTION FIRST: HAVE YOU LIAISE WITH DEBT COLLECTOR BEFORE??

Yes must pay la..no money no talk.u sign on the contract when u obtain the loan..debt collection come in when yr repayment is not prompt and they job is to chase u for money..u better pay them.if not things really get ugly..debt collector show up at yr hse with letter of demand
 

25chic

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Yes must pay la..no money no talk.u sign on the contract when u obtain the loan..debt collection come in when yr repayment is not prompt and they job is to chase u for money..u better pay them.if not things really get ugly..debt collector show up at yr hse with letter of demand

Actually I have paid a small amount but LML insisted to handover to DC.
 

Jjlin1205

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Actually I have paid a small amount but LML insisted to handover to DC.

Yr weekly repayment is how much.u shld followed their weekly repayment scheme coz u sign on the contract ...not up to u to pay whatever u can afford
 

Harri83

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Harri83: PLEASE ANSWER MY QUESTION FIRST. HAVE YOU LIAISE WITH DEBT COLLECTOR BEFORE??

No need so rude use all the capital letter.
You take people money and expect no need to pay back on time ?
You can makan AL money because you can say they are scammer.
LML is different.
You had signed everything black and white.
Police can't even help you. Believe me, debt collector will dare you call police come. The more you are no face in front of your house or office.
LML is not wrong for chasing you to pay back when the loan is due.
They are not wrong for ignoring you since you don't even want to pay back a single cent.
Normally LML will pass over to debt collector to collect the loan.
They have no obligation to give you lower installment payment.
That's why I keep asking you talk to them face to face and beg them for help for lower installment.
They already helping you for asking you to pay some money first before start talking about installment.
You are so guailan don't even want to pay anything and expect people accede to your demand for lower installments.
How to talk ? When you don't even want to pay back some money first ?
Meanwhile you are blaming LML act like ah long for not follow your demand ?
Well Done. :s13:
 

Harri83

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Yr weekly repayment is how much.u shld followed their weekly repayment scheme coz u sign on the contract ...not up to u to pay whatever u can afford

She is thinking she is the correct one and can do anything.
I already said many times LML is different from Ah Long.
 

Harri83

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Yes must pay la..no money no talk.u sign on the contract when u obtain the loan..debt collection come in when yr repayment is not prompt and they job is to chase u for money..u better pay them.if not things really get ugly..debt collector show up at yr hse with letter of demand

Yes. Must pay back to LML if don't want someone show up at office or home.
They will give a letter of demand.
 

25chic

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Yr weekly repayment is how much.u shld followed their weekly repayment scheme coz u sign on the contract ...not up to u to pay whatever u can afford

There's no weekly repayment. Was a payday loan. They asked for that amount which I paid but they still handover to debt collector.
 

Jjlin1205

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No need so rude use all the capital letter.
You take people money and expect no need to pay back on time ?
You can makan AL money because you can say they are scammer.
LML is different.
You had signed everything black and white.
Police can't even help you. Believe me, debt collector will dare you call police come. The more you are no face in front of your house or office.
LML is not wrong for chasing you to pay back when the loan is due.
They are not wrong for ignoring you since you don't even want to pay back a single cent.
Normally LML will pass over to debt collector to collect the loan.
They have no obligation to give you lower installment payment.
That's why I keep asking you talk to them face to face and beg them for help for lower installment.
They already helping you for asking you to pay some money first before start talking about installment.
You are so guailan don't even want to pay anything and expect people accede to your demand for lower installments.
How to talk ? When you don't even want to pay back some money first ?
Meanwhile you are blaming LML act like ah long for not follow your demand ?
Well Done. :s13:

He too stress la..anyway he shld fear lml more than Al as he everything is in black and white. Yes debtor collect will challenged u to call police with their letter of demand on hand police also cannot do anything abt it.trust me lml is more guailan..from my personal experience I kena those heavily tattoo debt collector appearing at my hse with letter of demand.talk very loudly till my next door neighbor open door to see what the commotion abt
 

Harri83

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There's no weekly repayment. Was a payday loan. They asked for that amount which I paid but they still handover to debt collector.

They will only do that if your payment is not prompt or the amount is very less than what's agreed. They will incurred some loss when hand over to debt collector.
 

Jjlin1205

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They will only do that if your payment is not prompt or the amount is very less than what's agreed. They will incurred some loss when hand over to debt collector.
Payloan even worse.like the loan stated u shld clear loan during payday..not pay installment
 

25chic

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No need so rude use all the capital letter.
You take people money and expect no need to pay back on time ?
You can makan AL money because you can say they are scammer.
LML is different.
You had signed everything black and white.
Police can't even help you. Believe me, debt collector will dare you call police come. The more you are no face in front of your house or office.
LML is not wrong for chasing you to pay back when the loan is due.
They are not wrong for ignoring you since you don't even want to pay back a single cent.
Normally LML will pass over to debt collector to collect the loan.
They have no obligation to give you lower installment payment.
That's why I keep asking you talk to them face to face and beg them for help for lower installment.
They already helping you for asking you to pay some money first before start talking about installment.
You are so guailan don't even want to pay anything and expect people accede to your demand for lower installments.
How to talk ? When you don't even want to pay back some money first ?
Meanwhile you are blaming LML act like ah long for not follow your demand ?
Well Done. :s13:

I went face to face with LML but they dont want to give instalment. I paid what they asked for yet they handover to Debt Collector. I didn't ask for lower instalments, they just pushed everything to Debt Collector. I talked to Debt Collector, offered to go down to their office yet then amount reduced but still must make another payment before can do instalment.

I'm not running. And yes, LML is worst.
 
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