ALONG – THE ILLEGAL MONEY LENDER

1. In the Malay community, Along is a nickname given to the eldest of the siblings. Nowadays, Along is always referred to an illegal money lender. How it comes about, I do not know. In the sixties, the popular money lender in Kuching was Bai’e, a Singh, I was told.
2. My advice is never to be entangled into Along’s trap for if you do so, there’ll never be a light at the end of the tunnel. How desperate you are financially, Along is not the answer as in the end you are the victim.
3. Many victims are misinformed of the interest charges on a loan thinking that a 10% monthly interest is justify in order to obtain a hassle free loan. Unfortunately, they are wrong especially for those who defaulted payments. To prove my point, please study the table below:-
WHAT YOU THINK ALONG’S LEDGER
Months Principle 10% Int. Total Months Principle 10% Int. Total
1 10,000 1,000 11,000 1 10,000 1,000 11,000
2 10,000 1,000 11,000 2 11,000 1,650 12,650
3 10,000 1,000 11,000 3 12,650 1,897 14,547
4 10,000 1,000 11,000 4 14,547 2,182 16,729
5 10,000 1,000 11,000 5 16,729 2,509 19,239
6 10,000 1,000 11,000 6 19,239 2,885 22,124
7 10,000 1,000 11,000 7 22,124 3,318 25,443
8 10,000 1,000 11,000 8 25,443 3,816 29,260
9 10,000 1,000 11,000 9 29,260 4,389 33,649
10 10,000 1,000 11,000 10 33,649 5,047 38,696
11 10,000 1,000 11,000 11 38,696 5,804 44,501
12 10,000 1,000 11,000 12 44,501 6,675 51,176
*The figures will continue growing.