PaiKia-Lee 1st Gear April 9, 2012 Share April 9, 2012 This kinda of ah long dumb sia. Not only cannot get back any money plus the police is all over them. Dont worry. In recent years, the singapore police has caught only 4 four ah loong. That is their result. Average of about 1 ah looong caught every two years. The rest r debtors turned runners ↡ Advertisement Link to post Share on other sites More sharing options...
Scoots 3rd Gear April 9, 2012 Share April 9, 2012 Start with C, ends with O Rhymes with Casio For a good lookin guy: starts with G. ends also with O. Rhymes with Casio too... . Link to post Share on other sites More sharing options...
Mllcg 3rd Gear April 9, 2012 Share April 9, 2012 Liberalise the borrowing market, and we will see even more people jumping. As it is, with credit cards, there is enough bad debt and rolling over debt, and these are supposedly the better educated and financially better off people. Make credit more readily available and more misuse (e.g. gambling) of money will take place. Also, there are already legal lenders, though some may wonder whether some of these lenders are ex-loansharks. These people also harass borrowers, their interest rate is not cheap either. not credit.. plus u didnt understand my point. if u need a loan to pay of a hospital bill and die die cannot get enough from relatives, bank wont lend what. what can u offer them as colleteral? so what i meant by liberalise is just freely lend regardless of rich/poor/circumstances. then if default payment, banks can also freely reposess. sometimes, people turn to loansharks coz of this. no colleteral required. on IC needed Link to post Share on other sites More sharing options...
Camrycamry 1st Gear April 9, 2012 Share April 9, 2012 if this is true, the interest is a bloodsucking 15% daily! day1 - $5000 day2 - $5750 day3 - $6612 day4 - $7640 day5 - $8745 day6 - $10056 day7 - $11565 day8 - $13300 day9 - $15295 day10 - $17589 day11 - $20227 day12 - $23261 day13 - $26751 day14 - $30763 day15 - $35378 day16 - $40685 day17 - $49788 day18 - $53806 wow! any openings? i want to apply to become one! Link to post Share on other sites More sharing options...
Raymondism Twincharged April 11, 2012 Share April 11, 2012 ALL GAHMEN FAULT! bro thks leh lol as long as before page 4 can liao Link to post Share on other sites More sharing options...
Alpha78 6th Gear April 11, 2012 Share April 11, 2012 not credit.. plus u didnt understand my point. if u need a loan to pay of a hospital bill and die die cannot get enough from relatives, bank wont lend what. what can u offer them as colleteral? so what i meant by liberalise is just freely lend regardless of rich/poor/circumstances. then if default payment, banks can also freely reposess. sometimes, people turn to loansharks coz of this. no colleteral required. on IC needed I understood you perfectly. The issue here is, for unsecured loans without collateral, how low can the interest go? First, the lender does not know whether the borrower has the ability to pay up. Next they do not know for what purpose the money is used for, regardless of paying hospital bill, gambling, buying food, it's up to the borrower to do what he wants with the money. Liberalise and charge less interest? The ones who do the lending will fold up in no time. Link to post Share on other sites More sharing options...
Raymondism Twincharged April 11, 2012 Share April 11, 2012 liberalise the borrowing market lor. banks and LEGAL money lenders should be more open to lend. after all, both of them can sieze assets to auction off should the borrower not be able to make payments. win win for all cannot.... abt ten yrs ago...before credit bureau came out... u see lotsa young pple go bankrupt... Link to post Share on other sites More sharing options...
Happily1986 5th Gear April 11, 2012 Share April 11, 2012 (edited) I understood you perfectly. The issue here is, for unsecured loans without collateral, how low can the interest go? First, the lender does not know whether the borrower has the ability to pay up. Next they do not know for what purpose the money is used for, regardless of paying hospital bill, gambling, buying food, it's up to the borrower to do what he wants with the money. Liberalise and charge less interest? The ones who do the lending will fold up in no time. There are existing schemes for lending to individuals in such scenarios. This practice is known as microcredit. It is just that locally, it is not very well known. Microcredit Edited April 11, 2012 by Happily1986 Link to post Share on other sites More sharing options...
Whisper_2000 Clutched April 11, 2012 Share April 11, 2012 Chop up that ah long then everything settled! Link to post Share on other sites More sharing options...
Jman888 Moderator April 11, 2012 Author Share April 11, 2012 Chop up that ah long then everything settled! you go catch him first lor how many real ah long actually been caught? Link to post Share on other sites More sharing options...
Dinosaka 1st Gear April 11, 2012 Share April 11, 2012 There's too many ah loong cases Liao....our mata can't be bothered Liao... N y shud they cos these ppl no money still want to gamble....no money still want to act rich.... They know the consequences of borrowing money from ah loong...still they go take another gamble... Gamble gamble gamble...it's in their blood ah!! Link to post Share on other sites More sharing options...
Mllcg 3rd Gear April 11, 2012 Share April 11, 2012 cannot.... abt ten yrs ago...before credit bureau came out... u see lotsa young pple go bankrupt... bankrupt is their loss. Link to post Share on other sites More sharing options...
Mllcg 3rd Gear April 11, 2012 Share April 11, 2012 I understood you perfectly. The issue here is, for unsecured loans without collateral, how low can the interest go? First, the lender does not know whether the borrower has the ability to pay up. Next they do not know for what purpose the money is used for, regardless of paying hospital bill, gambling, buying food, it's up to the borrower to do what he wants with the money. Liberalise and charge less interest? The ones who do the lending will fold up in no time. they can claim no money pay, etc. but when they repossess, they get back alot more money than the principal+interest accrued. i dont mean low as in banks low. but lower than loansharks and slightly higher than banks. or maybe banks can be the ones lending Link to post Share on other sites More sharing options...
Neutralsg 5th Gear April 11, 2012 Share April 11, 2012 Regardless how much the gahmen or banks do, ah long will always exist because there will always be people who will turn to them for whatever reason. While there are good borrowers, there will also be bad borrowers. Also, there will always be borrowers who have an insatiable appetite for $$$ for not being discipline with the management of their $$$. As a result, they often allow themselves to be exploited by unscrupulous lenders. Hence, IMO, the root of the problem tend to emanate from the borrowers rather than the lenders. Heard of people who got big big lottery which runs into millions and yet end up more broke than they were before their windfall? Therefore, we can only blame ourselves if we lack the discipline to live according to our lot in life regardless what it may be. Have a nice day! Link to post Share on other sites More sharing options...
Raymondism Twincharged April 11, 2012 Share April 11, 2012 bankrupt is their loss. tats why cannot anyhow lend money Link to post Share on other sites More sharing options...
Mllcg 3rd Gear April 11, 2012 Share April 11, 2012 tats why cannot anyhow lend money not lender loss la. bankrupt means borrower must still pay back. Link to post Share on other sites More sharing options...
Raymondism Twincharged April 11, 2012 Share April 11, 2012 not lender loss la. bankrupt means borrower must still pay back. tats why i say cannot anyhow lend money... the government enforce stricter rules... many young pple... upon working...take up many credit cards and start to chalk up debts... Link to post Share on other sites More sharing options...
8oo8 Neutral Newbie April 11, 2012 Share April 11, 2012 Ah Long also lend you real cash, but of course the rate is higher lar. One chose to find Ah Long knows the consequences. ↡ Advertisement Link to post Share on other sites More sharing options...
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