Choose a licensed moneylender, loansharks are nightmares.

Posted by admin
on February 8, 2015

We spoke to Alison, a 56 year-old mother of two who once borrowed a sum of money from loansharks and she called it a nightmare. Thinking that a small sum is okay and that she will be able to repay it soon or if not, since it was just a small sum of $2000, they would be lenient and give her time to repay her debt. Alison was not prepared for the nightmare that she was about to face. Always choose a licensed moneylender, loansharks are nightmares, she says.

From being a low-profile person to becoming someone the entire neighbourhood was talking about, Alison still feels traumatised by it. The loanshark runners did not even start small. They wrote her name all over the walls on the common corridor and splashed paint in every colour on her front door. One day, Alison woke up to her gate being padlocked and she was not even able to leave her house. People starting to talk about her. Whenever she went to the market or the food centre, all eyes were on her and she was embarrassed by all the attention.

Alison was almost forced to become a runner herself as she could not repay her debts. Luckily, a group of friends decided to help her out and she got out of her debt. From a small sum of just $2000, she ended up paying $8000 to the loansharks before they let her off the hook.

Alison’s story serves as a reminder that borrowing from loansharks should not even cross your mind. If you really need money, go to a licensed moneylender. There are many licensed moneylenders in Singapore who are regulated and who will not threaten and harass you like how loansharks do. Give us a call or drop us a visit! Quick Credit is your reliable Singapore moneylender.

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