Unlicensed Moneylending

AVENUES OF HELP

DEALING WITH LOANSHARKS

The best advice to deal with loansharks is to not deal with them at all.
  • Never borrow from loansharks; any short term solution this seems to provide will be overshadowed by the unceasing harassments for payments, even after the full sum is paid;
  • Never be a guarantor to any illegal loans;
  • Do not lend your NRIC to another person;
  • Do not gamble excessively & seek help if you are a compulsive gambler;

The public is advised to urge their friends and relatives not to borrow from illegal lenders but seek help through legal means of financial assistance such as credit counselling helplines and financial management professionals.

Borrowing from loansharks will result in dire consequences, some of which may include:
  • Family/loved-ones suffering from the trauma and embarrassment caused by loanshark harassment;
  • Never be a guarantor to any illegal loans; Indiscriminate borrowing and subsequent harassment may affect ties between family/love-ones;
  • Innocent neighbours bearing the brunt of harassment;
  • High exorbitant interest rates charged by the loansharks cause debtors to further spiral into debt and thus there is no way out for them, with many turning to a life of crime by working for the loansharks;

GET HELP BEFORE IT'S TOO LATE. 

Credit Counselling Singapore

6225-5227 (www.ccs.org.sg)
Seek information on debt management, obtain credit counselling and get help to work out debt repayment schemes

Registry of Moneylenders

1800-2255-529 (www.minlaw.gov.sg)
Borrow only what you can repay. Ensure that you understand the terms of the contract before borrowing. Check the list of Registered Moneylenders available online.

National Council on Problem Gambling

1800-6-668-668 (www.ncpg.org.sg)
Recognise problem gambling and seek help for gambling addiction issues.

ComCare Call

1800-222-0000 (www.comcare.sg)
Find out more about the various social assistance schemes available for low-income Singaporeans and families.

Please refer to the list of agencies surfaced by members of public for counselling and social support on moneylending issues. The list of agencies is not exhaustive and Police are not endorsing any of these agencies.

  • Adullam Life Counselling
  • Arise2care Community Service Ltd
  • Blessed Grace Social Services
  • One Hope Centre
  • The Silver Lining
  • THK Centre for Family Harmony
  • Debt Advisory Centre by Association of Muslim Professionals
  • Centre for Domestic Employees (CDE) – For foreign domestic workers
  • Foreign Domestic Worker Association for Social Support and Training (FAST) – For foreign domestic workers

Members of the public who are going through a difficult time and require counselling may call the following agency for assistance:
  • The Samaritans of Singapore at 1800-221-4444 (24 Hours Daily)
Last Updated on 14 August 2018