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An Moneylenders Act Singapore Explained
The Moneylenders Act in Singapore regulates the activities of moneylenders within the country. It's aimed to shield borrowers from abusive lending schemes. The Act establishes limits on interest rates, fees, and other clauses that moneylenders can require on borrowers. It also offers solutions to borrowers who experience problems with their moneylender.
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Before engaging a moneylender, it's essential to research their reputation and ensure they are legally licensed. Look for positive reviews from past clients.
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