I am also facing loanshark issues but the counsellors and people who have similar experience I spoke with all told me not to pay up and ignore/block all their calls and messages. I also installed a cctv at my doorstep. It has been 1 month now and nothing has happened. Hopefully we will all pull through this.
Have you default ? Have you gone MIA ? (Meaning dont answer their phone or change number)
If yes, within 1-3 days.
Step one is they will send a man up to knock on your door and ask you to call the ah long back. Or take picture of your house and send the picture to you to prove that he indeed got send people up. This serves as a warning.
Step two is you will find writings on the wall. NRIC, name, unit number, O$P$, call XXX @ XXXXXXXX
Step three is splash paint, throw flower pot, and nowadays set fire
Step four is to target your neighbours for step 2 and 3
Step five write off as bad debts but occasionally backside itchy still will send their runner up to do step 2 -4, just for fun
Yes I know, they have 10 or 20 different numbers and they are just going to message you from another number. But honestly think about it, even if they have 100 numbers, It takes us 5 seconds to report their number and when their accounts are blocked on whastapp they would go into panic mode because a lot of their debtor information is on their whatsapp. The key function is to report them as spam and whatsapp will ban their account which would really hold them back and frustrate them more.
I have a friend, who rented her place/house here in sg and is under Loanshark harassment.
She initially borrowed an amount like 3k? and over the course of 2-3 months, she already returned almost twice the amount, 5k+ maybe? but the Loansharks are saying those are for Late payment charges and interest, hence can only be counted as deferment not a payment, and including her interests and charges now, according to last month when I tried to help her speak the Loansharks, she now has to pay like 15k. And they said if by this month if they do not receive any money, by next month it will be around 20-21k.
I tried persuading her to go to the police, but she was extremely terrified and skeptical about reporting to police because of a few things. Long story short, I will ask here, and have you guys to help enlighten me to address to her concern and worries.
1) Will the Borrowers of Loansharks, face any charges in SG laws, for borrowing from them? If so, what are the charges/punishment that a borrower may face?
2) Since her place is a rented one, she doesn't want to cause any trouble to the landlord and the neighbours, but recently the loansharks sent someone up to take a picture of her house, and threaten to locked her family inside or so and burn the place. she is extremely concerned about her family, especially her daughter who is still studying. how long will it take for the police to resolve? and what is the procedures like?
3) giving her financial situation, she also cannot move out of her place now to get a new place as the security deposit and first month downpayment for renting, is quite huge that she might take a few months to save. Given that, and the repayment of the loansharks, she can only chose to try to pacify them by constantly returning them.
She hasn't stooped to become a runner yet, although she was given the option by the loansharks to provide a bank account for them to use. I wanted to help her to get out of this situation as soon as possible.
Any advices/knowledges/past experiences will be greatly appreciated.
I am currently trying to persuade her to go to police but she is too afraid of facing backlashes from sg laws.
Borrowers won't be charged under the law. Even if you are to report it to the SPF, there is nothing much they can do as you are not the first and won't be the last. Max is just step up petrol nia.
The only solution you can advise is to be brave and face up to the consequences. Just tell them straight that you no longer have anymore money for the time being.
Do not threaten them or play brave. Just keep hanging onto the phone while pleading them. Trust me, it works. They call just pick up. Den plead with them. At the end of the day, ah Long also know how to do their maths. If they realize u no longer have anymore money to pay them, they won't waste their money in hiring runners.
There is only one reason why they willing to spend money on runners, and that is they felt you have either underpay them or taken them for a ride.
I was thinking of cooperating with police to deal with them though but wishes no harm come to her or her family. is there really no other alternative for them to compromise?
But it did address to one of my concern, whether borrowers will be charged.
3 days later the UML whatsapp me and called me using another number telling me to xfer the 750 which i did and i kept receipt. The next day, i recieve call from them saying they did not receive the money and they say i staged a scam to cheat their money and they want to to transfer another 750 to them.
I am going to close my bank account but i not gonna change my number.. really regret what i did.. is this real loanshark or scam..
Did u verify with the original number first before you xfer the 750 to a different phone number and a different bank account ?
If no, then the UML can say its not him. Is you stupid to go transfer money to anyone who impersonate him.
And you still need to pay the original UML the 750.