All you need to know about Ah Longs

[YellowRibbon]

Hi just want to start this thread, to let ppl more aware of dealing with ah longs.

These are some of my experiences :

1) How much can i loan ?

As a new client, the most they give you is $500. Some need gurantor, some don't need. Once you settle this $500, they will increase your limit so next time you need, they can loan up to $1000. As time goes by, $3000, $4000 also can loan.

2) What is the payment like ?

Different syndicates different methods. Some will deduct the 20% interest from the loan amount upfront. eg. $1000, u take $800.

Some give $1000 loan but take back $1200.

3) How long is the payment ?

Normally is 4 weeks. eg. $1000 = 4x$250 or 4x$300

Some gives you 5 weeks. eg. $1000 - 5x$200 or 5x$240

3)(1) How many loans can i get ?

Some ah long give you up to 3 loans. eg. 3 loans of $500.
Some will intro their "colleagues" and u get loan from them. But actually is all same syndicate.
So without u knowing, you might be borrowing $6000 from 3 different ah long but all same syndicate.

3)(2) How to get ?

Call them up, they will ask for your NRIC, address, name. Then they will go check their database to see if you are a bad debtors. Once clear, they will send a runner to meet you to check your IC. Some kiasu will meet you at your door to make sure you really stay there. The runners will also do an inspection on your unit to see if there are any previous ah long markings. This means you are a bad debtor with another syndicate. Verification will cost about $10 or $20 payable in cash to the runner.

4) Do i need a gurantor ?

Some need, some don't. But most need.

5) My friend is in need but i dont want to gurantor him

The Ah Long will tell you no problem, just intro your friend to him. Promise you they wont look for you if your friend run. But when your friend really run or cant pay up, they will still recover from you.

6) What if i miss one installment ?

They will term it as "cut". Meaning you add another week of payment. eg. $1000 loan = you pay 2 weeks of $200 (Remaining 3 weeks). But 3rd week u cant pay, means they add one more week. So now u still left 4 weeks of payment = $800

7) What if i cant pay on the deadline ?

Some ah long can neg. give you one or two more days. If cannot neg, then refer to point 6

8) What if i didnt answer their call ?

You better answer, cos if the deadline they never hear from you, means you run road and actions will be taken

9) What kind of actions ?

Actions range from splash paint at your door, scribble o$p$ at your lift lobby.
Worse is splash paint at your neighbour doors. (Just apologise and help the clean up)
Worst is set fire on your door or splash paint at random cars.

10) What do i need to do if point 9 happens ?

First dont touch anything, Call police, lodge report, let them take photo. Then clean your gate and door using thinner. Call town council for their cleaners to come re-paint those writings on the wall. This is F.O.C.

11) What prevention measure can i take ?

Wrap plastic sheets on your windows and doors. Normally they see wont splash cos waste of time. But they might target your neighbours house.
Install CCTV cameras. But is to deter those newbie runners. Hardcore runners wont even hack care if their face is shown. Some wear helmets, umbrella and mask so CCTV no point also.

12) When will it ends ?

From experience, i think they come up one time splash paint, you never response, they will stop cos no point also.

Thats all for now, type so long, hand very tired.

 

[no_faith]

so watz the sentence for the people who take loan from ah long?

 

[Rogue Trader]

12) When will it ends ?

From experience, i think they come up one time splash paint, you never response, they will stop cos no point also.

splash paint only? never tok kah tok chiu? threaten to rape daughter?

like that everybody should just borrow a lot and wrap plastic around their doors

 

[@rmadill0]

so watz the sentence for the people who take loan from ah long?

So far I think no punishment right?

 

[Alamaking]

.................
12) When will it ends ?

From experience, i think they come up one time splash paint, you never response, they will stop cos no point also.

So after this, no need to pay back liao izzit? LOL

 

[no_faith]

So far I think no punishment right?

not sure but if lidat, i take loan and report police, no need pay back.

 

[3core]

Have they tried threaten you via calling and sms? On my experience they did and send me a letter with O$P$. They even ask me to pay the late payment of $90/day if i wasnt able to make payment on time.

For licensed moneylenders, they are worst than Ah Longs! If i missed payment they will disturb you by calling your office and say abusive words!

Can anyone advise me how to lodge complain to this so called "licensed moneylenders"?

 

[red amoeba]

when will they come to lock my door or superglue the lock?

 

[Alamaking]

I think throw human shit is the best, LOL

 

[chonburifc]

So after this, no need to pay back liao izzit? LOL

It will never end. Temporary only. They will go for other easier targets first and return once they are done with the easier target. Meanwhile, interest continue to grow.

 

[Narong Wongwan]

I think not necessary to give out such info......most important must give out Ah Long contact and the debtors will learn OJT.

Now all the syndicates CMI....no standard.

Due to difficulty to procure bank accounts now, they will ask those paying installments to tt direct into new debtor's account....take a loan of $500 you need a few tt transactions to complete.

Standard used to be 5 installments but now can come until 3 installments.

Now all run by newbies, recently i puay toh siao for a friend of mine......some ah long jargon that the guy on the other end of the phone dun even understand....knn i need to give him a quick lesson even.

i got to teach him difference between live and dead loan, terms like tiao (jump), por (top up)....knn the fucker also dun understand.

 

[Narong Wongwan]

when will they come to lock my door or superglue the lock?

no need superglue.....use joss sticks end to jam into the keyhole can liao

 

[Alamaking]

Seriously, how can Gov legalise all this moneylenders shits? zzzzzzz

 

[Narong Wongwan]

2) What is the payment like ?

Different syndicates different methods. Some will deduct the 20% interest from the loan amount upfront. eg. $1000, u take $800.

Some give $1000 loan but take back $1200.

Now no one does no chop head already.....even LML chop head also.
What is the significance of chop head? Old days the law no chop head means no toh siao for the loan


9) What kind of actions ?

Actions range from splash paint at your door, scribble o$p$ at your lift lobby.
Worse is splash paint at your neighbour doors. (Just apologise and help the clean up)
Worst is set fire on your door or splash paint at random cars.

some CMI ones will throw coffee and break flower pots.
Old days there is a meaning in the color of the paints that you kena.

10) What do i need to do if point 9 happens ?

First dont touch anything, Call police, lodge report, let them take photo. Then clean your gate and door using thinner. Call town council for their cleaners to come re-paint those writings on the wall. This is F.O.C.

if you kena padlock or bicycle chain then call civil defence to cut....1st time free, after that $150 per trip.



12) When will it ends ?

From experience, i think they come up one time splash paint, you never response, they will stop cos no point also.

some never give up.....every new year or holiday time will visit you once

 

[Jah_rastafar_I]

What if you stay in pte property?

What if you stay in condo with security? Do they give loans to these type of ppl?

 

[chonburifc]

Even CNY also got OT? Runner really not easy.

 

[YellowRibbon]

Even CNY also got OT? Runner really not easy.

Runners are also debtors themselves so most is forced to do it. They also got no choice.

 

[YellowRibbon]

not sure but if lidat, i take loan and report police, no need pay back.

Yes but you must endure the harassment that follows.

So after this, no need to pay back liao izzit? LOL

Best is dont pay back liao. Cos they already come up. If u pay back, they know that you are an easy prey and they will try to get as much $ from u as possible.

 

[Narong Wongwan]

Even CNY also got OT? Runner really not easy.

before CNY they will send you present........usually during CNY will rest. No loans out before CNY period and skip collection for the 1st few days up to a week.

 

[Narong Wongwan]

What if you stay in pte property?

What if you stay in condo with security? Do they give loans to these type of ppl?

Private property/condos few will still do. Condos with tight security that they cannot enter they will paste notice on the lamp post outside.