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The Moneylenders Act in Singapore controls the operations of moneylenders throughout the country. It's designed to safeguard borrowers from unfair lending schemes. The Act defines limits on interest rates, charges, and other terms that moneylenders can require on borrowers. It also offers legal recourse to borrowers who face issues with their moneylender.
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Before selecting a moneylender, it's crucial to review their standing and verify they are legally licensed. Look for glowing reviews from past clients.
A registered moneylender in Jurong East can be a valuable resource for residents facing debt. They provide professional assistance to manage your debt-related problems.