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TSAlfredLeorius
post Jan 5 2018, 12:09 PM, updated 6y ago

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What exactly is the difference between a License Money Lender and those Along you are taught to avoid like a plague since you are a child?

I am not qualified for bank personal loan due to C/C blacklist (Paying it under AKPK now) , got myself into a little situation so am considering the possibility of those license money lender.
hustlerism
post Jan 5 2018, 12:12 PM

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license money lender = those Along you are taught to avoid like a plague since you are a child
TSAlfredLeorius
post Jan 5 2018, 12:15 PM

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QUOTE(hustlerism @ Jan 5 2018, 12:12 PM)
license money lender = those Along you are taught to avoid like a plague since you are a child
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Any facts to support this claim? not doubting you, just wanna make sure.
TSAlfredLeorius
post Jan 5 2018, 12:35 PM

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QUOTE(banhammerZ @ Jan 5 2018, 12:31 PM)
u need to go in as intrest...then u will know
remember to ask interest if u fail to pay on time...thats the killer
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Meaning if I pay on time no problem will arise? I have a steady day job, paying back if based on their repayment chart should not be an issue.
TSAlfredLeorius
post Jan 5 2018, 12:52 PM

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QUOTE(banhammerZ @ Jan 5 2018, 12:50 PM)
if pay ontime then the % is that la.
if fail then % is different liao.......so really need walk in and find it out your self
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Thank you for the information kind sir smile.gif , that make me less worried now.
ZuloPhobia
post Jan 5 2018, 07:24 PM

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i had NEVER, i mean NEVER EVER heard any good things coming from borrowing money from Ah Long, all i hear is problems

Begging like rats from the street is even better suggestion than borrowing from them.

But seriously though, better for you to beg from your cousin/relatives/friends. or even con them
XiaoMeiMei
post Jan 5 2018, 07:29 PM

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Please, never EVER EVER loan money from both of them if you have even a slight chance of not being able to pay back on time, they are the same thing. Speaking from experience I once had an aunt's husband who was big into gambling, he borrowed loads and even when he and his aunt passed away, they still chased my cousins to hell and back. One cousin is far-out at sea on an oil rig and the other moved state to australia to avoid them since they could only pay the partial amount.

It is better to try loaning from a bank, because if there ever was a period where you can't repay back the loan, the bank won't charge as much as the ah longs.
Acherleon
post Jan 5 2018, 09:52 PM

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some people if they very good at paying back actually do this.

you borrow from along an amount that can make you out of blacklist the fastest and then wait till you can do loan..once can do personal loan as much as the one you borrow from along and pay along finish.

but need to care.. it is a dangerous road. once you fail to pay along..you make you problem double or triple. some more this along can even chase till all you kids.

This post has been edited by Acherleon: Jan 5 2018, 09:53 PM
aziratul
post Jan 5 2018, 11:14 PM

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QUOTE(AlfredLeorius @ Jan 5 2018, 12:35 PM)
Meaning if I pay on time no problem will arise? I have a steady day job, paying back if based on their repayment chart should not be an issue.
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You are already in AKPK.. what do you mean u will not have an issue with ir? I suggest you concentrate on finishing ur previous loan first
Odinn
post Jan 6 2018, 10:23 AM

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QUOTE(aziratul @ Jan 5 2018, 11:14 PM)
You are already in AKPK.. what do you mean u will not have an issue with ir? I suggest you concentrate on finishing ur previous loan first
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Agree. Already in one shitehole, don't risk yourself falling into another shitehole. Clear off the AKPK agreement first. Find a part time job, do uber or grab or whatever that can give additional revenue and clear your debts. Don't look for opportunities for it to get worse. Just invest time and effort to alleviate your current situation rather than that.
TSAlfredLeorius
post Jan 8 2018, 10:48 AM

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An update to this post, I contacted two different company and both company have proceed to gave me a call to explain and well process/check my background.

first company that contacted me sound more legit and interest rate are similar to bank structure, their minimum time of repayment in taking their loan is 24 months (I asked for a faster period like 1 year, but they say this option is unavailable, but I can opt to make bigger payment to clear it faster)

For a loan of RM 5000, they require me to make payment of RM 25X per month, which the total figure is around RM 6xxx.

The second company runs 100% like Ah long.

for a loan of RM 5000, they require me to pay RM 5XX per month for only the INTEREST, to pay off my principle I must pay more than RM 5XX, like RM 750 for example will take me 20 months to clear which total in a whooping RM 15000.

Now I see why people are so cautious of these loans, I have no proceed with either of them yet right now. Just leaving this here for future people to refer to.

The first company sound not too bad though.
TSAlfredLeorius
post Jan 8 2018, 10:56 AM

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QUOTE(aziratul @ Jan 5 2018, 11:14 PM)
You are already in AKPK.. what do you mean u will not have an issue with ir? I suggest you concentrate on finishing ur previous loan first
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Being in AKPK does not make me unable to pay for other stuff, I join AKPK because I could not pay 1 lumpsum the bank was asking for at that time, AKPK help me to prevent the situation from escalating further (Eg: lawsuit and stuff)
TSAlfredLeorius
post Jan 8 2018, 11:26 AM

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Another update to my previous post

Most likely company 1 is a loan scammer, as we need to pay a fee of RM 600 for them to get the loan processed.

similar to this case https://www.thestar.com.my/news/nation/2017...for-loan-scams/
PrincZe
post Jan 8 2018, 09:56 PM

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QUOTE(AlfredLeorius @ Jan 8 2018, 11:26 AM)
Another update to my previous post

Most likely company 1 is a loan scammer, as we need to pay a fee of RM 600 for them to get the loan processed.

similar to this case https://www.thestar.com.my/news/nation/2017...for-loan-scams/
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name the company.

some i heard are ok. but what are the odds
Icehart
post Jan 8 2018, 10:00 PM

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Not all are bad so it's important to read before you sign the dotted line. If unclear, ask for explanations. If in doubt, walk and find another company.
aziratul
post Jan 8 2018, 11:40 PM

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QUOTE(AlfredLeorius @ Jan 8 2018, 10:56 AM)
Being in AKPK does not make me unable to pay for other stuff, I join AKPK because I could not pay 1 lumpsum the bank was asking for at that time, AKPK help me to prevent the situation from escalating further (Eg: lawsuit and stuff)
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How about you make adeal with your family member and make them make a loan for you using their own salary and you pay to them monthly.

Using loan shark or other mean shady loan company is a no no..
yeezai
post Jan 9 2018, 01:28 PM

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QUOTE(aziratul @ Jan 8 2018, 11:40 PM)
How about you make adeal with your family member and make them make a loan for you using their own salary and you pay to them monthly.

Using loan shark or other mean shady loan company is a no no..
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mostly of the time borrowing from family consider burned...atleast if u borrow from other ppl u will make the initiative to pay ..
TSAlfredLeorius
post Jan 9 2018, 03:11 PM

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QUOTE(PrincZe @ Jan 8 2018, 09:56 PM)
name the company.

some i heard are ok. but what are the odds
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They have my details, I don't think this would be a good idea, lodge a police report already yesterday.
Sedih
post Jan 11 2018, 12:22 PM

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I borrowed from license money lender b4. Interest really high. Pay back almost double. But i followed their payment plan and no problem arise. Good luck bro.
pakmulau
post Jan 11 2018, 12:30 PM

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QUOTE(AlfredLeorius @ Jan 9 2018, 03:11 PM)
They have my details, I don't think this would be a good idea, lodge a police report already yesterday.
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as long as they have no photocopy of your Mykad is okay

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