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January 07, 2009 Wednesday
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Melissa Sim
Journalist
Just as bad as loansharks?
November 13, 2008 Thursday, 06:00 AM
Melissa Sim recounts the experiences of those hounded by debt collectors.
DEBT collectors - there's no way of avoiding them, as these Singaporeans found out the hard way. Many felt the heat especially in this downturn, as these collectors turned up at their homes and offices at all hours. Debtor: Ms M. Ail, a secretary, 37, owes $30,000 to five banks. Experience: Ms Ail had been harassed by debt collectors at her home numerous times. She said there was one time when she was away at work and her maid had to deal with the situation. It was around 9pm, and she said her three children had already gone to bed when the debt collectors knocked at their door. When her maid said she was not in, the debt collectors replied: "I know she is in, ask her to come out." Her kids aged two, seven and nine, were woken up by the commotion and apparently quite shaken by the incident. "It was terrible, when I’m not at home, they harass the maid," she said. Debtor: Male, 45, married with two children. Owes about $50,000 to banks due to failed restaurant business. Experience: He said he gets phone calls every other day which he finds "sickening". Also debt collectors call past 8pm and even on weekends. He said: "It would be nice if they left me alone on weekends. I want to return the money. Just give me some time." Complaining about banks, he said that even after he had paid up for the month, he receives computer-generated letters the next day claiming he has not paid. Debtor: Female, manager in her 50s. Owes money (would not say how much) to six banks. Experience: She continuously gets phone calls, sometimes, one in the morning and another in the afternoon from the same organisation. After restructuring her debt and working out a payment plan, she was still harassed. She had agreed to pay $1,000 each month, to an institution, but after the first payment, she was called up and told that the sum was "not enough". She said: "They are about the same as loan sharks. Just no physical violence." As the saying goes, you can run, but you can never hide. Read the full story in Thursday's edition of The Straits Times. Tags: money, singapore 
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I was sue til bankrupt for an amount of $12K. Told some of my friends and no one could believe it. offer to make payment of $400/per month before the court proceed but refused with the settlement. Now $18500/- incl lawyer fees with bankruptcy in name. But what can we say. If we take a loan, we are at the mercy of the lender.
Banks are legalised loansharks. A local bank sent a statement to my husband in July 2007 that he still owe the bank about $14K including legal fees. We were told to pay $300 per month which we did religiously even though the bank refused to give us mthly statements. In Oct this year, the bank sent us a letter offering us a 45% rebate if we settle the outstanding balance. Guess what, the banker said we still owe about $16000!!! What have we been paying the past year? Fat bonuses to legalised loansharks. We do not know how they calculate the interest and what is deducted from the $300 we paid mthly. Do you know of anyone who can advise us?
Just curious, are you still drinking milk?
*NATURALLY(???) OCCURING(??) TRANS FAT
IS FOUND IN F&N (Fraser & Neave) Magnolia Fresh Milk, Pure Natural Trusted ,packed in plastic 2 litres, PASTEURISED & HOMOGENIZED.
But in 1 liter package version , on the box, why does this company label "TRANS FAT FREE" ?
Readers in Singapore can catch this advertisement at bus stops billboards around the island, picture with a young girl measuring her height with the giant 2 litres bottle of milk.
I appeal to all readers to seriously quit drinking pasteurised milk for body longevity health sake. Make no mistake, I am for real fresh milk direct from the living cow, but not those processed pasteurised and homogenized milk, however the law approved the sale of these products in the public markets.
The Reflective bloggers-****-participants. A few snippets :
1.How often have we sighed and resigned ourselves to our positions when we helplessly glared at changes and lamented that nothing could be done to remedy the situation?
2. They (referring to authorities) taught me to be respectful and grateful. These values, I hope to impart to my children and friends whom I meet. But reality is such that given the time constraint and the urgency to complete the subject matter on hand, can we afford to put time aside to impart the values? These values, after all, will not be graded. Countries are not ranked according to the values and uprightness of citizens. How can we account to the Presidents? Or Prime Ministers? Sigh! Unless the focus of our citizen education system undergoes a change for the truth only, this phenomenon will persist. Oh no! Am i adopting "I am like that 'my nature'" and "myth of the faults is from outsider" outlook?
3.Assumptions! Imagine the severe tangible and intangible damage assumptions can cause. They can really wreak havoc. (I finally realised) I have had this deadly illness for a long time. And if I do not start to seek a cure and be more aware and conscious of it, it is going to spread and become deadly.
4.Working with people is never easy. But I always feel we tend to complicate and misinterpret things when in actual fact, they are so clear-cut and simple. And we seldom look at and within ourselves when things go wrong. We simply love to point the finger at others, When will we ever wake up?
5.I have come across people who can preach but who cannot practise what they preach. It irks me. But my mentor-tutor reminded me that more importantly, I must not fall into the same trap when I become a leader. That I must remember.
6.Do I really want to be blogger? Why do I want to be blogger when a blogger is held accountable for everything? When I first joined blogging, I have never thought of this issue at all. But now, this is an excellent question. Can I become a good blogger? What is a good blogger anyway? Can I be good in the eyes and hearts of so many different stakeholders-readers? Or is this a question between me and my conscience? http://theinnozablog.blogspot.com
High class ahlong, that is our banks are often called. The debt collectors would not resort to painting the the walls, lock your gates...and yet the debtors thinks they are a irritant...they shd count themselves lucky already!!!
I read with interst btw a licence debt collector and a loan shark, there's no difference . one will go about business without due care cos they are licence, the other, go abt their job at night. let's give an i.e. the debt collector harressed a debtor from house to office, debtor already depress, wrote down in his dairy, daily happenings, last call from debt collector, next debtor jumps and die! who's liable! debt collector wake up your idea for that few dollars! cos you might be the next murderer in this situation now. for that few dollars and cos someone to die, you are no better off then a loan shark! and its time the gov look into this matter regarding debt collector, who bravely put on paper that they have no qaumls about calling debtors anywhere they can get them. the police should also look into this kind of case as a matter of harressment. if they deem what the loan sharks are doing as illegal then surely what the debt collectors are doing is judt as bad abeit with a licence! get it1
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