The term ‘Ah Long’ is quite a popular word used these days especially with the many publicized cases about people borrowing money from the illegal money lenders. Ah Long is actually a Chinese phrase used to depict the illegal money lenders who impose ridiculously high interest rates in the short term.
Many people has since fall into this trap to find quick cash and not aware of the consequences. In most cases, the borrowers find themselves in a tight spot especially when they cannot afford to pay back the money they owed to the Ah Long since they did not expect the interest to be this high in the short term.
The best thing to do is not to borrow from the Ah Long. They can promise you that the interest is not very high and all that but once you are in their scheme, it is quite difficult to get out.
In most cases, Ah Longs will target those who need quick cash in the short term. Never for one second think that if you borrow RM10k from the Ah Long you can make the money fast enough to pay back even if it is RM20k.
The interest rate from the Ah Long is so high, it could easily reach RM30k in a week or two. That is when you start to panic and will think about running away. When you do that, the Ah Long will take actions which they deem ‘necessary’.
The activities that they do are normally illegal where they will start with harassing you and worse still they could come to your family members. This will surely create unnecessary stress for both yourself and your family members.
If that fails, they will then try to harass you through using red paint and such. If you think that such Ah Long actions only happen in the movies, think again. This could well happen to you. Ah Long are illegal money lenders and as such, they will use illegal means to get their ways.
Some Ah Long has resorted to using violence to get their money back and if that happens, then you must report to the police. You will need to pay back the debt that you took in the first place and Ah Long being Ah Longs, they will go all out to get their money back from you but if it gets out of hand, you should let the authorities handle it.