Jun 18, 2010
Banned from borrowing
90 families apply to moneylenders' group to bar kin from borrowing
<!-- by line --> By Jessica Lim
<!-- end by line -->
<!-- end left side bar -->
Mr David Poh, president of the Moneylenders' Association of Singapore and chairman of licensed moneylender Nam Leong, was surprised at the number of requests for bans made on the website. -- ST PHOTO: DESMOND WEE
<!-- story content : start --> IN JUST eight days, 90 families have approached the moneylenders' association to ask that their relatives be barred from taking out any more loans. Even the moneylenders themselves are surprised by this development. An application to ban someone is made online at the website belonging to the Moneylenders' Association of Singapore. If the application is accepted following an investigation by the association, the debtor will not be able to take out a loan from any of the association's members.
Read the full story in Friday's edition of the Straits Times.
[email protected]
