i have friends in need of money , so they go to what they called as legal money lender as advertise everyday in the newpaper.they get the loan of 1k, and weekly repaymeny of 200sgd per week. if delay for a day the interest is 20sgd . repayment of 6 weeks.if when the following weeks they dun have enough 200sgd to pay for the week,lwhat thay called legal money lender , will took the 200sgd as interest.what the difference between a legal loanshark and a illegal loanshark. please anyone advise..................................
Authority always eye on that. but if you friends just
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