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Don't let low-income group turn to loan sharks
Tue, Nov 04, 2008
my paper

I URGE the authorities to do more to help low-income individuals who are in need of loans.

It saddened me to read of Madam Joanna Law's suicide in "My wife died in my arms" (The New Paper, Oct 29).

I hope the authorities could restrict, if not put a complete stop to, all illegal money-lending activities.

I am sure that everyone in Singapore knows the dangers of borrowing from loan sharks.

However, some, if not many, continue to resort to borrowing from loan sharks as they have nowhere else to turn to.

I would like to ask the authorities what could be done to prevent people from borrowing from loan sharks.

Interest rates are so high that many, if not all, borrowers are unable to pay in full.

There are many who have been harassed by loan sharks.

I encourage the authorities to give more help to such people so that they do not have to resort to borrowing from such illegal money lenders, especially during bad times.

Mr Ace Kindred Cheong


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