Loan Shark Harassment and how to stop it

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delceer

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I made police report la..but I got all tools ready for Al attacked..CCTV too.only can't stop them for mailing poster..

I haven't come to any newspaper report that Ah Long in Singapore kill people one.
Oversea have but not in Singapore.
 

delceer

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I paid untill I cannot afford that's why I no choice but to run

Can share what is the interest rate ?
Higher than those credit card/ ready credit 24% ?
Now bank got balance transfer.
Why don't you borrow from bank ?
 

khunjuno

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Can share what is the interest rate ?
Higher than those credit card/ ready credit 24% ?
Now bank got balance transfer.
Why don't you borrow from bank ?



Advertised interest rate is 12% per year.

But usually they will ask to do a small loan to test the payment record first. Something like loan 700, pay back 1000 in a week. That 300 is the "interest/defer fee", but they will only keep collecting the interest by giving 101 excuses why cannot clear the loan (no account to transfer, worker sick, never indicate in system, never inform 1 day before etc etc). From there, for the interest to snowball because loan never actually clears.

Also, I'm sure most people who borrow from ah longs probably don't have a good credit rating to borrow from the banks. If not why they go this route?
 

lesnar88

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Everyone la...

They won't send everyone in your block. They at most only send 2 or 3 units around your level. Heng suay some random units. If your neighbors kind enough to take notice, they will come ask u about it. If they don't, chances are AL only send mail to your unit but claim he send to everyone
 

lesnar88

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Wondering what is their next step? Call NoK? Call office? Grafitti? Paint?

Depends. Usually NOK first. I would say paint and graffiti rare now cos cameras are everywhere and debtors/runners know the consequence of vandalism. Maybe via mail?

The threatening will last longer now cos they just call/WhatsApp/SMS. So they are just keyboard warriors. Compared to 2009 when my family was being harrassed, the AL need to pay runners to splash paint/graffiti. If we don't pay, then it doesn't make sense for AL to keep paying runners to harrass us.

But still just stay vigilant
 

Jjlin1205

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They won't send everyone in your block. They at most only send 2 or 3 units around your level. Heng suay some random units. If your neighbors kind enough to take notice, they will come ask u about it. If they don't, chances are AL only send mail to your unit but claim he send to everyone
I believe they send to most of the unit.when I see my neighbour in lift i feel they looking at me awakardly
 

Snaptwist05

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The AL seems to have good english.. Couldnt tell if the are malaysian or overseas.. Seems like to have singaporean accent. Haha
 

Snaptwist05

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You borrow how much ?
If the amount is not a lot, they will write off as bad debt ? :s11:

I didnt borrow from any AL.. Last 2 months i took payday loan from LML.. Settle the payment 5 days earlier.. Couple of days later, received a text msg from a differrent number saying that they didnt received payment. Tats where it all started till now.. Loan that i took was $500..now suddently become $3000..ask me to make deferment 650 first.. Wth
 

delceer

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I didnt borrow from any AL.. Last 2 months i took payday loan from LML.. Settle the payment 5 days earlier.. Couple of days later, received a text msg from a differrent number saying that they didnt received payment. Tats where it all started till now.. Loan that i took was $500..now suddently become $3000..ask me to make deferment 650 first.. Wth


You went to their office to settle right ?
How come you settle the payment 5 days early and they still demand money ?
This is scam leh. Legal money lender can do that ?
 

khunjuno

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I didnt borrow from any AL.. Last 2 months i took payday loan from LML.. Settle the payment 5 days earlier.. Couple of days later, received a text msg from a differrent number saying that they didnt received payment. Tats where it all started till now.. Loan that i took was $500..now suddently become $3000..ask me to make deferment 650 first.. Wth

I ever receive random WhatsApp say my loan is due also, that was before I run all my ah Long. Just account number to transfer to. I ask who are you but the AL never reply
 

khunjuno

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You borrow how much ?
If the amount is not a lot, they will write off as bad debt ? :s11:

Write off as bad debt after a few weeks of harassment I think. From fellow forummer experience, AL on and off will come disturb again after that. Bigger debts will probably come splash paint firsy
 
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