New rules for money lenders

[palden]

splashing of paint still applies. :p

Control until like this where got money buy paint?

 

[alvin36]

doesnt matter,the new law say late interest of no more than 4 percent per month and late fees of no more than $60 per month.u can simply delay payment for like say 3 months and over time it should be cheaper and lower interest to take out that loan.borrow one week is boh hua because of the small
capital loan and the high upfront admin fee.

if borrow and don't return, the debt collector will disturb you at work place. they are licensed to do that.

as of now, because of the upfront 10% admin charge and low interest. these legal ah longs all do "weekly loan", meaning 1 contract for 1 week.
and they charge 10% for every contract.

I thought this law is supposed to curb the high interest, but now... it allow admin charge !!
WTF

 

[frenchbriefs]

if borrow and don't return, the debt collector will disturb you at work place. they are licensed to do that.

as of now, because of the upfront 10% admin charge and low interest. these legal ah longs all do "weekly loan", meaning 1 contract for 1 week.
and they charge 10% for every contract.

I thought this law is supposed to curb the high interest, but now... it allow admin charge !!
WTF

then its up to customer discretion to avoid such retarded loansharks,who in the right mind would take out a loan for just a week.might as well dont borrow money if u cant even survive for one week.unless the purpose is to pay off another loanshark.

 

[GoldenDragon]

as of now, because of the upfront 10% admin charge and low interest. these legal ah longs all do "weekly loan", meaning 1 contract for 1 week.
and they charge 10% for every contract.

I thought this law is supposed to curb the high interest, but now... it allow admin charge !!
WTF

That is the problem when people not au fait with their work craft out policies supposedly to better the status quo.