Licensed Money Lenders

[chowcheebye]

Anybody borrowed from them before?? heard they are mostly ah longs apply for licence becos pappy garment want to control them easier. So now everything do legally, machiam bank loan application, sign loan agreement. But if default, still follow same SOP....send pig head, splash red paint, plus new set fire

 

[Narong Wongwan]

Anybody borrowed from them before?? heard they are mostly ah longs apply for licence becos pappy garment want to control them easier. So now everything do legally, machiam bank loan application, sign loan agreement. But if default, still follow same SOP....send pig head, splash red paint, plus new set fire

cannot splash paint.....everything must be legal.......even the harrassment......can sue you bankrupt and garnish your pay.

 

[drifter]

Anybody borrowed from them before?? heard they are mostly ah longs apply for licence becos pappy garment want to control them easier. So now everything do legally, machiam bank loan application, sign loan agreement. But if default, still follow same SOP....send pig head, splash red paint, plus new set fire

my friend own a licence ah long company ...they dont send pig head , splash red paint ...ect . if they do that their lincence will be revoked . all they can do is to shame you in public thats their main tatics

 

[chowcheebye]

another way is, they can ask their ah long division to approach the borrower to help clear his loan, then ah long take over from there

 

[Asura]

Can they outsource to debt collection company for their bad debts?

 

[chowcheebye]

debt collectors also need licence , mostly also paikias....send ppl to shout and threaten but cannot use violence. still remember ST last time got 1 feature article on debt collectors and show photo of this big size 6 ft tall, full body tattooed guy

 

[Narong Wongwan]

Can they outsource to debt collection company for their bad debts?

they are more well trained than debt collection companies.......they are machiam the commandos and the normal debt collectors only normal infantry

 

[Narong Wongwan]

debt collectors also need licence , mostly also paikias....send ppl to shout and threaten but cannot use violence

debt collectors dun need licence here......anyone can set up company and be one....

 

[chowcheebye]

i heard in Macau, Stanley Ho control all the ah longs, debt collectors etc etc...supporting industries to his main casino business...so if you gamble and lost, no problem...got money lenders waiting outside to lend you maybe pappies trying to learn also

 

[drifter]

Can they outsource to debt collection company for their bad debts?

actucally if ppl own you money you could enaged their service too if they dont return .

 

[Narong Wongwan]

i heard in Macau, Stanley Ho control all the ah longs, debt collectors etc etc...supporting industries to his main casino business...so if you gamble and lost, no problem...got money lenders waiting outside to lend you maybe pappies trying to learn also

his monopoly gone liao......macau one can turn very violent and even resort to kidnapping....
Sinkieland will have a 'legalized' version.........maybe enact new law if you owe casino money then go jail kena caning......

 

[Kinana]

Rules very strictly applied now. If they violate rules or anyhow lend money, license will be removed.

The profit margin is very good for these legal ahlongs.

 

[chowcheebye]

now Stanley must share Macau with the Jews...Jews are the ones who invented money lending during the time of Jesus, and later they upgrade to become Wall Street banksters...Americans think their banks are the biggest ah longs, the interest can snowball until no limit one, all inside the fineprint when you sign...all these unfolded after the subprime crisis

 

[chowcheebye]

Rules very strictly applied now. If they violate rules or anyhow lend money, license will be removed.

The profit margin is very good for these legal ahlongs.

that cheebye ah beng Mark Lee endorsing one of the big money lenders right? MAX CASH

 

[Narong Wongwan]

that cheebye ah beng Mark Lee endorsing one of the big money lenders right? MAX CASH

Maxi Cash you mean? That one pawn shop lah....just listed. LML cannot advertise on TV

 

[jw5]

Anybody borrowed from them before?? heard they are mostly ah longs apply for licence becos pappy garment want to control them easier. So now everything do legally, machiam bank loan application, sign loan agreement. But if default, still follow same SOP....send pig head, splash red paint, plus new set fire

The way the government is trying to solve the problem of illegal money lending smacks of the way they tried to solve the problem of illegal prostitution.

Previously, to try and control illegal prostitution and hopefully reduce the incidences of rape, they legalised prostitution.
Currently, to try and control illegal money lending and hopefully reduce the incidences of robbery, they legalised money lending.

Unfortunately, those "bright sparks" didn''t realise one huge difference between legal prostitution and legal money lending.
Those who partake in the former have money, they fuck and they go away and when they feel like it, they go again.
Whereas those who partake in the latter are desperate and having this outlet will inevitably make them even more desperate. Eventually, the licensed money lenders will pay the price also, when the borrowers start borrowing from them to pay the loan sharks.

 

[Narong Wongwan]

The way the government is trying to solve the problem of illegal money lending smacks of the way they tried to solve the problem of illegal prostitution.

Previously, to try and control illegal prostitution and hopefully reduce the incidences of rape, they legalised prostitution.
Currently, to try and control illegal money lending and hopefully reduce the incidences of robbery, they legalised money lending.

Unfortunately, those "bright sparks" didn''t realise one huge difference between legal prostitution and legal money lending.
Those who partake in the former have money, they fuck and they go away and when they feel like it, they go again.
Whereas those who partake in the latter are desperate and having this outlet will inevitably make them even more desperate. Eventually, the licensed money lenders will pay the price also, when the borrowers start borrowing from them to pay the loan sharks.

Pappies was to 'leegalize' everything so that crime stats looks good.......but root of problem still around....only mutant to another 'legalized' form only

 

[chowcheebye]

now Singpost and GE Money JV....biggest legal ah long. pappies = Stanley

 

[Narong Wongwan]

now Singpost and GE Money JV....biggest legal ah long. pappies = Stanley

Singpost and GE competing with the banks.........their interests rates nowhere near to what LML charges (sometimes higher than Ah Longs even).

 

[Fishypie]

..and now GE Money absorbed by SCB..washing $ ?