|
WHILE the Government takes steps to eradicate loan-sharking activities by increasing penalties ('Tougher law on loan sharks', yesterday), we cannot deny the existence of a growing pool of desperate individuals who are prepared to pay exorbitant interest rates and risk harassment for a cash loan.
Not every individual who borrows from a loan shark is a problem gambler. Credit Counselling Singapore's (CCS) figures suggest that some 25 per cent of debtors in financial trouble cite gambling as a major cause.
The fact is that there are many individuals who face urgent cash needs but are unable to obtain these from the legitimate lenders in the market.
For more The Straits Times stories, click here.
| 
