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janggutbiru
post Jan 11 2018, 12:30 PM

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if you want to gali lubang to tutup another lubang using these medium, please dont.

my friend like this. borrow from money lender and now lari to other region. renting car doing uber.

his car 7 months overdue which he manage to bawa lari. but the bank manage to locate the car and seize it.

long story short, his life is fu'd up just because of his decision.

Leon||
post Jan 11 2018, 04:22 PM

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Never ever go with money lender that's my personal advise, my personal experience to share with you..

Company A without KPKT license
Browsing though website and you call them up and usually they will tell you their runner will call you back shortly to verify the details.
Runner call you up for meet up and discuss request for document, proof of where you stay etc, some even just deal through online via whatsapp, email and etc.
Usually no black and white document..

After they check your details then usually they will offer you weekly loan RM1000 lets say on Monday, you will receive RM600/RM700 within the same day after deducting processing fee (their commission), by next week you required to pay RM1000 or RM300 to delay another week. Depending on amount usually RM1000 they will not hold your ATM card.

Loan they approve usually around RM1000 to RM3000.

Company B, with KPKT license
They have nice office usually, you need to submit your documents like how you apply to bank loan, they will verify and check if you have other loan with other money lender, or discuss and calculate for you if you really could afford to take loan with them.
Usually within the same day or two they will offer you monthly loan by charging you 20%/30% upfront and 18% pa for interest. Let's say you apply for RM3000, your on hand cash will be RM2100 for 30% upfront, after a month you need to pay RM3045 for full settlement or RM945 to delay another month.

Loan they approve usually around RM1000 to RM3000, perhaps if you have high salary and frequent customer who could make settlement, they might offer you higher till RM5000 which I don't recommended.

Black and white document provided, they don't hold your ATM card.

Company C, with KPKT license
Same work flow as company B, processing the application might take 3-7 workings day. These usually offer better rate than the other two above, they will offer you loan let's say RM3000, with charge upfront 40% and allow you to make repayment for 6-12 months with 18% interest pa.

Your on hand will be RM1800, and 10 months repayment would RM460.
In between some might also able to offer you refinance after half of your repayment period, means after 5 months you could reapply for higher amount and you get extra cash, of course another charges and interest you required to pay.

Black and white document provided, they don't hold your ATM card.


In summary, my personal advise please don't go for it even you are blacklisted or in AKPK like myself, you could never repay finish. Why?
When you first apply, you calculate you could really repay it on dot, however this is not the usual case. You will apply from company A, then company B and company C after that. Which means you are digging bigger hole to cover your loan, you already started to do that when you reaching to the first money lender in your life.

I only dealt before with company B / C, you can know they are really interest to earn money by lending you money and expect you pay on dot. They are aiming to long time business running so I never missed my payment so no issue with them overall. I was in trouble by digging bigger hole and luckily able to secure a big fund to repay them, now only left one company and I am done with that, no more lending from money lender, not even banks.

For company A, it's really dangerous as you never know who you will dealt with, they know where you stay etc, they could be some youngster who just started to do all this. So it's very risky and you never know are they trustworthy.

So, please don't go with money lender, it ruin your life. You could easily do a excel to calculate how much if you have borrow from all these money lender and how much you could actually save. Your face doesn't worth anything, just go for your family or friend if you have financial issue

This post has been edited by Leon||: Jan 11 2018, 06:30 PM
TSAlfredLeorius
post Jan 11 2018, 06:10 PM

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QUOTE(pakmulau @ Jan 11 2018, 12:30 PM)
as long as they have no photocopy of your Mykad is okay
*
Of course they do, the first thing they ask for is the my kad.

That is why I make police report immediately.
TSAlfredLeorius
post Jan 11 2018, 06:15 PM

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QUOTE(Leon|| @ Jan 11 2018, 04:22 PM)
Never ever go with money lender that's my personal advise, my personal experience to share with you..

Company A without KPKT license
Browsing though website and you call them up and usually they will tell you their runner will call you back shortly to verify the details.
Runner call you up for meet up and discuss request for document, proof of where you stay etc, some even just deal through online via whatsapp, email and etc.
Usually no black and white document..

After they check your details then usually they will offer you weekly loan offer to you RM1000 on Monday, you will receive RM600/RM700 within the same day after deducting processing fee (their commission), by next week you required to pay RM1000 or RM300 to delay another week. Depending on amount usually RM1000 they will not hold your ATM card.

Loan they approve usually around RM1000 to RM3000.

Company B, with KPKT license
They have nice office usually, you need to submit your documents like how you apply to bank loan, they will verify and check if you have other loan with other money lender, or discuss and calculate for you if you really could afford to take loan with them.
Usually within the same day or two they will offer you monthly loan by charging you 20%/30% upfront and 18% pa for interest. Let's say you apply for RM3000, your on hand cash will be RM2100 for 30% upfront, after a month you need to pay RM3045 for full settlement or RM945 to delay another month.

Loan they approve usually around RM1000 to RM3000, perhaps if you have high salary and frequent customer who could make settlement, they might offer you higher till RM5000 which I don't recommended.

Black and white document provided, they don't hold your ATM card.

Company C, with KPKT license
Same work flow as company B, processing the application might take 3-7 workings day. These usually offer better rate than the other two above, they will offer you loan let's say RM3000, with charge upfront 40% and allow you to make repayment for 6-12 months with 18% interest pa.

Your on hand will be RM1800, and 10 months repayment would RM460.
In between some might also able to offer you refinance after half of your repayment period, means after 5 months you could reapply for higher amount and you get extra cash, of course another charges and interest you required to pay.

Black and white document provided, they don't hold your ATM card.
In summary, my personal advise please don't go for it even you are blacklisted or in AKPK like myself, you could never repay finish. Why?
When you first apply, you calculate you could really repay it on dot, however this is not the usual case. You will apply from company A, then company B and company C after that. Which means you are digging bigger hole to cover your loan, you already started to do that when you reaching to the first money lender in your life.

I only dealt before with company B / C, you can know they are really interest to earn money by lending you money and expect you pay on dot. They are aiming to long time business running so I never missed my payment so no issue with them overall. I was in trouble by digging bigger hole and luckily able to secure a big fund to repay them, now only left one company and I am done with that, no more lending from money lender, not even banks.

For company A, it's really dangerous as you never know who you will dealt with, they know where you stay etc, they could be some youngster who just started to do all this. So it's very risky and you never know are they trustworthy.

So, please don't go with money lender, it ruin your life. You could easily do a excel to calculate how much if you have borrow from all these money lender and how much you could actually save. Your face doesn't worth anything, just go for your family or friend if you have financial issue
*
Thank you for taking the time to write out a comprehensive article about your experience, but you should know people such as you and I are truly desperate before considering these money lending services.

Regardless, they don't seem to deem me worthy enough to borrow anyways.
Leon||
post Jan 11 2018, 06:19 PM

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QUOTE(AlfredLeorius @ Jan 11 2018, 06:15 PM)
Thank you for taking the time to write out a comprehensive article about your experience, but you should know people such as you and I are truly desperate before considering these money lending services.

Regardless, they don't seem to deem me worthy enough to borrow anyways.
*
No, no matter how desperate you are, don't go with money lender, after going through all these, face is not important at all when you compare how much you could save the interest if you don't go with money lender.. Family is the easiest to solve your financial burden.

In fact, you could loan from your friend by giving them some interest, let's say 5% or 10% from the total you would like to borrow and I am sure they are happy to do that..

I do know 2 money lender, each from company B / C, but honestly it's not recommended to go with it
TSAlfredLeorius
post Jan 11 2018, 06:22 PM

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QUOTE(Leon|| @ Jan 11 2018, 06:19 PM)
No, no matter how desperate you are, don't go with money lender, after going through all these, face is not important at all when you compare how much you could save the interest if you don't go with money lender.. Family is the easiest to solve your financial burden.

In fact, you could loan from your friend by giving them some interest, let's say 5% or 10% from the total you would like to borrow and I am sure they are happy to do that..

I do know 2 money lender, each from company B / C, but honestly it's not recommended to go with it
*
The upfront charges is a surprise. they take 30-40% then what left will not be enough anyways.

Should I retrieve my documents from them as soon as possible?
Leon||
post Jan 11 2018, 06:25 PM

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QUOTE(AlfredLeorius @ Jan 11 2018, 06:22 PM)
The upfront charges is a surprise. they take 30-40% then what left will not be enough anyways.

Should I retrieve my documents from them as soon as possible?
*
Yes, the upfront charges is no surprise anymore after I have dealt for second, third time and more, all works the same or similar no matter how pretty their advertisement are shown.

All the money lender you found online, only 2/3 out of all the search are in honest business, others operate more in grey area which I never go with it.

No point you retrieve your documents now, they won't do anything anyway if your record are bad such as CCRIS / AKPK tongue.gif

Believe me, when you go for money lender for first time, whenever you have any financial trouble it will auto link you to them.
Your clean debt (such as bank, car loan and etc) still doesn't solve yet you are struggling to settle their loan.

Myself have paid 10k+ interest to them I believe.. I am lucky to able resolve most money lenders and only left 1 money lender with small installment and by June I will be a freeman and slowly clear my bank debt which are not much

This post has been edited by Leon||: Jan 11 2018, 06:39 PM
TSAlfredLeorius
post Jan 11 2018, 06:29 PM

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QUOTE(Leon|| @ Jan 11 2018, 06:25 PM)
Yes, the upfront charges is no surprise anymore after I have dealt for second, third time and more, all works the same or similar no matter how pretty their advertisement are shown.

All the money lender you found online, only 2/3 out of all the search are in honest business, others operate more in grey area which I never go with it.

No point you retrieve your documents now, they won't do anything anyway if your record are bad such as CCRIS / AKPK  tongue.gif
*
I am actually looking for something like company C, but borrow RM 3000 get 1800-2100 and need to repay like RM 790 per month is well, not that attractive

Total amount need to pay back is RM9480.

and I actually really needed around RM2500, it won't be enough.
Leon||
post Jan 11 2018, 06:34 PM

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QUOTE(AlfredLeorius @ Jan 11 2018, 06:29 PM)
I am actually looking for something like company C, but borrow RM 3000 get 1800-2100 and need to repay like RM 790 per month is well, not that attractive

Total amount need to pay back is RM9480.

and I actually really needed around RM2500, it won't be enough.
*
No, first timer for company C usually they would offer max 70/80% of your salary, let's say you take their loan RM4000.

You might receive RM2400, and if 10 months repayment = RM460. After 5 months you could refinance and go higher loan amount, lesser processing fee etc..

Believe me, when you go for money lender for first time, whenever you have any financial trouble it will auto link you to them and apply for more, which was digging bigger hole for you to jump in.
Your clean debt (such as bank, car loan and etc) still doesn't solve yet you are struggling to settle their loan.

Myself have paid 10k+ interest to them I believe.. I am lucky to able resolve most money lenders and only left 1 money lender with small installment and by June I will be a freeman and slowly clear my bank debt which are not much

This post has been edited by Leon||: Jan 11 2018, 06:39 PM
wkc
post Jan 12 2018, 04:43 PM

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QUOTE(Leon|| @ Jan 11 2018, 04:22 PM)
Company B, with KPKT license
They have nice office usually, you need to submit your documents like how you apply to bank loan, they will verify and check if you have other loan with other money lender, or discuss and calculate for you if you really could afford to take loan with them.
They have their own system like bank to check if you have any other loan with those illegal money lender? so canggih?
Leon||
post Jan 12 2018, 04:50 PM

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QUOTE(wkc @ Jan 12 2018, 04:43 PM)
They have their own system like bank to check if  you have any other loan with those illegal money lender? so canggih?
*
No, usually they refer to CTOS or within their internal network to cross check if you have any other record with their partner, means other money lender
wkc
post Jan 12 2018, 04:54 PM

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QUOTE(Leon|| @ Jan 12 2018, 04:50 PM)
No, usually they refer to CTOS or within their internal network to cross check if you have any other record with their partner, means other money lender
*
interesting...they can check if you have loan from others
Leon||
post Jan 12 2018, 04:55 PM

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QUOTE(wkc @ Jan 12 2018, 04:54 PM)
interesting...they can check if you have loan from others
*
I do doubt if they could check all, else how would one person end up borrow from various money lenders biggrin.gif
gogocan
post Jan 13 2018, 12:29 AM

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QUOTE(AlfredLeorius @ Jan 11 2018, 06:29 PM)
I am actually looking for something like company C, but borrow RM 3000 get 1800-2100 and need to repay like RM 790 per month is well, not that attractive

Total amount need to pay back is RM9480.

and I actually really needed around RM2500, it won't be enough.
*
For just $2.5k can u just borrow from your boss or friends.

$2.5k not worth the trouble dealing with ah long.
Virlution
post Jan 15 2018, 01:53 PM

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QUOTE(AlfredLeorius @ Jan 11 2018, 06:29 PM)
I am actually looking for something like company C, but borrow RM 3000 get 1800-2100 and need to repay like RM 790 per month is well, not that attractive

Total amount need to pay back is RM9480.

and I actually really needed around RM2500, it won't be enough.
*
2.5k is not much, borrow from your boss if you are a long time worker... or sell/pawn any expensive items to raise the money
btan
post Aug 8 2018, 10:08 PM

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which personal loan the best rate?
TSAlfredLeorius
post Aug 16 2018, 04:02 PM

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QUOTE(btan @ Aug 8 2018, 10:08 PM)
which personal loan the best rate?
*
Forget it man, it is not worth it. loan interest more than 100% if you count properly.

like borrow 1000 get 700 pay back 1700 kind of bs.
gogocan
post Aug 18 2018, 09:49 AM

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QUOTE(btan @ Aug 8 2018, 10:08 PM)
which personal loan the best rate?
*
Attached Image

The best can get now 3% -3.25% p.a.
Dude Oni Kabuto
post Aug 18 2018, 11:09 AM

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If not answered its a very basic answer to TS question.

Licensed need to comply with regulations. Certain level of rates to apply, loan conditions, collection protocol if fail to pay. Basically have to comply with Bank Negara Malaysia rules. Unlicensed is the one that can anyhow charge 40% interest per week and will resort to thuggery to collect the money.

The only advantage of unlicensed is they do not scrutinize your ability to repay and that failure to repay wont put you in jail. However be prepared to face dire consequences/life threatening when you borrow more than you can pay.


Vervain
post Aug 20 2018, 02:18 AM

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Never loan from ah long. My business partner was in a financial trouble. Went to ah long to loan 10k. Very fast approval, 1 think 15-30 minutes you get the money. He loaned 10k, but receive 8k. 1k deposit, 1k interest per week. So the next week he have to pay back 9k. If not weekly ah long get 1k interest per week till he is able to payback or see red paint. lesson learn, its better you find friends or relatives for help than ah long. better masam muka daripada hilang organ.

 

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