Kb27 Supersonic January 7, 2014 Share January 7, 2014 Moneylenders should just set up besides the casinos and offer instant cash. ↡ Advertisement Link to post Share on other sites More sharing options...
Jasonjst 3rd Gear January 7, 2014 Share January 7, 2014 legalized ah long, just like the banks. these ah long getting smart already, rather work with gahment to earn monies now. somemore cctv all over the hdb now, cannot splash paint liao. http://www.straitstimes.com/breaking-news/singapore/story/fall-loan-shark-other-criminal-activities-hdb-estates-cctvs-installed- Anyone knows how to apply for a moneylender license? What are the criteria, like must be a banker, min degree holder; how much capital, etc. I believe it is a good biz start up for retires with lots of money don’t know where to put? Link to post Share on other sites More sharing options...
Sabian Turbocharged January 7, 2014 Share January 7, 2014 haha... brain dead or fingers on auto pilot... dunno how reno got in there. actually my point is if borrow for medical is immediate emergency money sometimes. bank will not loan unsecured, unless its small amount. borrow for edu also need guarantor. nothing is free. Medical insurance is there for everyone to take up when they are healthy. But you will need to set aside your own emergency funds for the co-insurance and deductible unless you take up the rider for those as well. Can't be you wait until you need to sheet than look for jamban? Edu loan. If you borrow (assuming it is a decent degree and you graduate) will lead to a bigger payback than without a decent degree unless spend more than your new graduate pay. Can't say the same for useless half past 6 MBAs though. Of course nothing is free in life. Link to post Share on other sites More sharing options...
Nolicense Turbocharged January 7, 2014 Share January 7, 2014 Medical insurance is there for everyone to take up when they are healthy. But you will need to set aside your own emergency funds for the co-insurance and deductible unless you take up the rider for those as well. Can't be you wait until you need to sheet than look for jamban? Edu loan. If you borrow (assuming it is a decent degree and you graduate) will lead to a bigger payback than without a decent degree unless spend more than your new graduate pay. Can't say the same for useless half past 6 MBAs though. Of course nothing is free in life. that's the trouble. money so tight people do without the rider insurance or save for deductibles. even edu, might as well try save the money and not take loan. actually dun know if degree can even pay back the investment or not. the pay increment not enough to cover plus lost earnings during study. the opportunity cost is too high and the forgone earnings is too much Link to post Share on other sites More sharing options...
StefanK Supercharged January 7, 2014 Share January 7, 2014 Anyone knows how to apply for a moneylender license? What are the criteria, like must be a banker, min degree holder; how much capital, etc. I believe it is a good biz start up for retires with lots of money don’t know where to put? https://licences.business.gov.sg/SHINE/sop/WebPageHandler?p=OASIS&pn=SelectLicences&ss=FAQ&LicenceID=116 But slots full and I think got veeeeeeery long waiting list. Link to post Share on other sites More sharing options...
Hiphiphoray 6th Gear January 7, 2014 Share January 7, 2014 See them popping up all over toa payoh central also. Damn eye sore lor........ 1 Link to post Share on other sites More sharing options...
Throttle2 Supersonic January 8, 2014 Share January 8, 2014 See them popping up all over toa payoh central also. Damn eye sore lor........ Toa payoh seems to have a lot of cash rich people Link to post Share on other sites More sharing options...
Datsun366 Turbocharged January 8, 2014 Share January 8, 2014 HDB lah. Link to post Share on other sites More sharing options...
Mllcg 3rd Gear January 10, 2014 Share January 10, 2014 some of them could be former ah longs. now become legal Link to post Share on other sites More sharing options...
The_Bear Turbocharged January 10, 2014 Share January 10, 2014 See them popping up all over toa payoh central also. Damn eye sore lor........ Now they also become Heartlender, Easier to approach. Link to post Share on other sites More sharing options...
Jman888 Moderator March 6, 2014 Author Share March 6, 2014 Singapore Budget 2014: Govt to cap total amount borrowers can get from licensed moneylenders Published on Mar 05, 2014 By Selina Lum A central credit bureau will be set up to allow tighter controls over the total amount of unsecured loans that an individual can borrow from licensed moneylenders, Senior Minister of State for Law Indranee Rajah said in Parliament on Wednesday. This would mean introducing a "universal cap" on how much a person can borrow from all moneylenders, as opposed to the current regulation regime, which imposes a borrowing cap on each moneylender. Members of Parliament Lim Biow Chuan and Zainal Sapari highlighted concerns over excessive borrowing and excessive borrowing costs from licensed moneylenders. Ms Rajah said that in regulating the moneylending industry, the right balance had to be struck between allowing borrowers reasonable access to credit and providing them with adequate protection. She said the ministry is consulting key industry stakeholders in its review of the moneylending regime and that the measures will be announced in due course. A licensed moneylender at Toa Payoh Central. A central credit bureau will be set up to allow tighter controls over the total amount of unsecured loans that an individual can borrow from licensed moneylenders, Senior Minister of State for Law Indranee Rajah said in Parliament on Wednesday. -- ST FILE PHOTO: DESMOND FOO Law Minister K. Shanmugam, addressing the issue as well, underscored that a balance had to be struck. He noted that when artificial curbs are imposed, the borrower and the lender may find alternative means and be driven underground. Mr Zainal (Pasir Ris-Punggol GRC) called for measures to better regulate licensed moneylenders. He said he has seen borrowers' receipts where the effective interest rate amounted to a "shocking" 43,000 per cent per annum and another where the effective interest rate was at 159,000 per cent per annum. Mountbatten MP, Mr Lim, urged the Law Ministry to do more to protect residents who face temporary cashflow problems or need cash quickly for a short term. Link to post Share on other sites More sharing options...
Carnoob Supercharged March 6, 2014 Share March 6, 2014 No wonder so many "licensed" moneylenders lah, interest can feed a whole clan liao hahaaa Link to post Share on other sites More sharing options...
Jman888 Moderator March 6, 2014 Author Share March 6, 2014 No wonder so many "licensed" moneylenders lah, interest can feed a whole clan liao hahaaa of course those people who work there don't look like Bankers Link to post Share on other sites More sharing options...
W210k 1st Gear March 6, 2014 Share March 6, 2014 Why?? Blame it on the casinos!! People are borrowing to gamble... & with the credit controls from financial inst, some will go to these legalized ah long to borrow money to buy property & cars? Casino, cars, condo - 3 'C's already. Why must people gamble? To strike it rich, to buy car and/or condo. Why must people buy new car? Because MRT not good enuf? Why must people stay in condo? Because seen living in HDB very lau kui? So people start to gamble and borrow money to pay debts and take huge loans to buy car and condo. When garmen step in with control and cooling measures on car and housing loans, what do these people do? They gamble even more, go into even higher debt ..... but still want to buy new car and stay in condo. So they go to these 'legit' money lenders lor! Round and round they go in the circle game of never-ending debt. Who in MCF stay in condo, or private property, got no loan? Ki chiu! Who in MCF drive car, got no loan? Ki chiu! So materially, your condo/house and car don't belong to you right? The bank(s) own everything that you have in your name. Now will that be a satirical joke for your next generation? Ponder on this, really, or else, your family's poverty cycle will begin with you, right here and now!!! 1 Link to post Share on other sites More sharing options...
W210k 1st Gear March 6, 2014 Share March 6, 2014 Don't blame others....everyone is responsible for their own actions.... Yes. Car to lah wah (show off) Condo, property to flip and make money ... greed! Luckily the garmen made it very difficult for speculators and flippers. Good on ya! People have to be responsible. Live within one's means. Why take so big loans just to acquire these "assets", when the banks are really the ones holding on to the title deed and car? You don't really own them. You just signed long-term hire-purchase deals with the banks or money lenders. 1 Link to post Share on other sites More sharing options...
GongJiaoWei 3rd Gear March 6, 2014 Share March 6, 2014 Casino, cars, condo - 3 'C's already. Why must people gamble? To strike it rich, to buy car and/or condo. Why must people buy new car? Because MRT not good enuf? Why must people stay in condo? Because seen living in HDB very lau kui? So people start to gamble and borrow money to pay debts and take huge loans to buy car and condo. When garmen step in with control and cooling measures on car and housing loans, what do these people do? They gamble even more, go into even higher debt ..... but still want to buy new car and stay in condo. So they go to these 'legit' money lenders lor! Round and round they go in the circle game of never-ending debt. Who in MCF stay in condo, or private property, got no loan? Ki chiu! Who in MCF drive car, got no loan? Ki chiu! So materially, your condo/house and car don't belong to you right? The bank(s) own everything that you have in your name. Now will that be a satirical joke for your next generation? Ponder on this, really, or else, your family's poverty cycle will begin with you, right here and now!!! Agree to a certain extend. Cos' I do not agree that everyone borrow to gamble or etc. Got to know that there are some families borrow to meet their months end. Not to the extend that need to borrow for milk powder or food etc. But cos' due to kids' new school term - buy uniforms, textbooks etc, and also CNY need to buy bit here and there. The only way to have quick source of funding is via these money lenders...In return that next month got more OTs to work then can return the money. PS: "Why must people buy new car? Because MRT not good enuf?" -- The number of breakdowns and delays seem to be increasing... Link to post Share on other sites More sharing options...
Knoobie Supercharged March 6, 2014 Share March 6, 2014 See them popping up all over toa payoh central also. Damn eye sore lor........ because the fruit machines at HDB hub is very popular... Link to post Share on other sites More sharing options...
Jman888 Moderator July 16, 2015 Author Share July 16, 2015 received this in whatsapp, using china line to advertisement $0 cost, avoid pdpa ↡ Advertisement Link to post Share on other sites More sharing options...
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