[Singapore Video] - Licensed debt collector goes to debtee's HDB to try to chase back

[Sammyboy RSS Feed]

An honorable member of the Coffee Shop Has Just Posted the Following:

Unpleasant as it is, imagine how much worse it could have been if it was a loan shark instead of a licensed debt collector. As the debt spirals out of control (with accumulating compound interest), so does the life of the debtee. Never never take on debt if there's a risk you can't pay it off under your full control.


https://www.facebook.com/video.php?v=879533666165962



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[Singapore Video] - Licensed debt collector goes to debtee's HDB to try to chase back money


Click here to view the whole thread at www.sammyboy.com.

[XuDan]

Originally Posted by Sammyboy RSS Feed

An honorable member of the Coffee Shop Has Just Posted the Following:

Unpleasant as it is, imagine how much worse it could have been if it was a loan shark instead of a licensed debt collector. As the debt spirals out of control (with accumulating compound interest), so does the life of the debtee. Never never take on debt if there's a risk you can't pay it off under your full control.


https://www.facebook.com/video.php?v=879533666165962



Comments ...

[Singapore Video] - Licensed debt collector goes to debtee's HDB to try to chase back money


Click here to view the whole thread at www.sammyboy.com.

All these moneylending is encouraged by the Pay And Pay people.
Once I accompanied my elderly neighbour to the Meet the MP session coz receive lawyer letters demanding payment for monies owing to the gahmen (PUB, S&C, HDB mortgage etc) and wanted to ask her MP assistance to write to these agencies to allow her to pay by installments. Her son had always been the one paying the bills but unfortunately he got into accident and was hospitalised and then lost his job.

I discovered at that Meet the MP session that the gahmen actually encourage you to borrow from moneylenders to pay the monies that you owe to the gahmen.

My elderly neighbour was told she can owe money to others but not to the gahmen. By hook or by crook the gahmen's debt must be paid. She was even given the namecards of a couple of moneylenders.... whom I later realised 1 of them was also a grassroots member helping out at the Meet the MP sessions.