CC easy cash plan only 4% a year..why laa pinjam along.

If he can do it then, why is he go to ah long instead?
Are you serious? Dude already in deep shit, yet you sees this as an opportunity to earn some cash for yourself?

Why I'm willing to do so? Because I'm his friend, and friend should try help each other, not betraying or took advantage on them.
Your point?

That's why never tell full story in the first place.
25% interest in 1 month. And your friend so stupid go take this type of deal instead of asking his family for help.

I hear already I definitely will not help. This kind of stupidity cannot cure one.

Even my internet online betting bonus, I definitely try nego 15% one. But your friend is opposite

Yea I was thinking it makes 0 sense if the ah long earned 0% interest - lend 3k return 3k. Even a regular payday loan place would charge solid interest...

Guys, the purpose of me opening this topic is to remind all of you and please inform your friends and family as well, to avoid borrow money from Ah Long. For those who wonder how these Ah Long squeeze people, here's the story, quite long and I'll try to make it short.

Yesterday 8/8/2023, a friend of mine call me asking if I can meet him, urgent he said. So we meet up at a place, then he ask me to borrow him RM3000. I ask him why? He told me the whole story about he borrow RM3000 from Ah Long via online, no paper work no signature no black and white. I ask again how can he be so careless, agreeing to this kind of crazy deals. Now my friend here aren't an alcoholic, a gambler, or addicted to any negative stuffs. He know it's a stupid idea but he needs money that time, found out about this loan online and go ahead with it. Within 30 days, he must pay off the RM3000 in lum sum, simple to said borrow RM3000 but must pay back RM3000 within 30 days. So yesterday at 8/8/2023, is the due date. I helped him sold his computers, ipad and some other gadgets. We collected about RM2000+ because we sell these items dirt cheap, instantly got call and PM from various buyers. He manage to borrow few hundreds from his friends to make it RM3000.

Now here's the most fucked up part, by logic before 12am, the date will still remains 8/8. So he still have couple of hours to pay up the RM3000 right? Nope, the Ah Long literally said this "If follow market, other people charge interest RM1000 per hour.". I don't want to share the chat between him and the Ah Long here because he's already in miserable state, but that's the message he showed me. That text is before 12am, the date still 8/8 but to the Ah Long it's times up. They ask him to pay another RM4000 even after he paid the RM3000 before 12am 8/8 because of his "late payment", so it's RM3000 + RM4000 = RM7000 to them. You see, to this Ah Long, after 12am or no, they still charge you late interest because they feel you late to pay them back. All this in whatsapp and I ask him to screenshot all the chat as the Ah Long later might delete it, and if that happened he might get into trouble as he got no evidence against the Ah Long. Yes I know, our law aren't so good against Ah Long but I still ask him to do so just in case. After that I told him don't pay the RM4000, go to PPIM and tell them what happened. He paid on the last day of the 30 days, yet because the Ah Long feels like he's late to pay and they simply ask him to pay another RM4000. I think now he already in PPIM office, hope they can figure something out.

You guys might have question,
- What he did with the RM3000? He don't want to tell me but he assure me that the RM3000 aren't for those bad things, I know him for so long, so I believe him.
- Why he never ask his family, friends or company for help? He said he did, but non of them able to help that day before he go to Ah Long.
- Did I borrow money to him yesterday? No I didn't because I also needed money as I will be buying another car soon. But I did help him get around RM2000+ by helping him selling off his computer and gadgets.

This thread is to raise awareness, if you guys have any Ah Long stories, feel free to share it here so that others know how fucked up these Ah Long are in reality.

UPDATE 9/8
He went to PPIM, they help him checked with the company they claim they're from and surprise, the company said they do not have any record from my friend at all. PPIM said 2 possibility, 1 is this person are playing ah long, meaning they just some scammers pretending ah long plus all these usual threats. 2 this person could be the old school type of ah long, yes they do have the man power and they will causing trouble like throwing red paint etc. PPIM advise him to file a police report which he did afterwards, in the mean time PPIM try to contact the ah long but they never answer the phone call. In the police station, an inspector was assigned to assist him. Inspector advise him to change his phone number and deactivate his social media for a time being, until everything as cool down. Yes the inspector also try to contact the ah long and same, not answering the phone while he still receiving threats via whatsapp. Worse parts is that the ah long get to his mom, I don't know what his parents will do to him but I do know his parents won't go easy on him. He even told me he's ready if the family disown him over this, man this sure is fucked up. For now the inspector inform him to stay alert for any suspicious individual in his place, call the police if someone ever came to harass him. The inspector also said they're now tracking down the caller and found the caller aren't in KL/Selangor, also tracking down the bank account owner. I sure hope the police will get to them so that my friend and some other poor victim no longer have to worry about these bastards harassing them, imagine sleeping with one open and looking over your shoulder every time you going out.

So good this plan?which plan? I go take and put in 4.3% fixed deposit.

Want to add some story of mine, not me but friend who borrow ah long.

Pinjam RM10000, agreed with interest of like 6% if paid by 25th this month.

Friend paid on 20th full RM10k and message him, Ah long on 28th say he only  "saw" the message so consider he paid late, so interest become 20%.

i blame bank yahudi for this

they dont want to help poor people

i blame bank yahudi for this

they dont want to help poor people

and then everyone should allowed to open their own bank

so they can make use of people hard earn money cunningly

Unfortunately it’s not the bank’s job to lend money to what they deem as bad business prospects.

Your friends modus operandi is gali lubang tutup lubang only...to pay ah long borrow from others..neverending cycle.

Not going into why borrow from ah long, its beyond that.
Borrow 3k pay back 3k too good to be true. even friend also charge interest.
Ah long needs to make money,.
You are dealing with lawless people, no documentation, they would surely open high (+4k interest), maybe should try to negotiate. 2k down.
And why count down the clock till last minute to repay, you are dealing with ah long and should have bufferred.
End of day, your friend has opened a door way, Ah long see this as opportunity, and will come up with whatever stories to make him keep paying. The more you pay Ah long will see him capable of getting more . Good luck to him.

I understand your pov but even during pandemic, banks were raking in money. Even now they are raking in money. And not everyone who goes to loan sharks do so for online gambling. Like one poster above said, micro financing went down the drain when the banks were consolidated. This problem, i apportion some blame to banks for being assholes

Yes gali lubang tutup lubang, but in this situation you got other better idea than withdraw CC or ask parent which he can't/don't have?

You really think he want borrow other's money to pay ah long is it?

Before comment, use your brain. If he can do like you mentioned, he won't be borrow ah long right?

Another one, if he can get from CC then why borrow ah long? Apa la