Loan sharks - where to find them?

Hi,


I was wondering how I could find any of those notorious Hong Kong loan sharks. I urgently need HK$5000 for living expenses and I have no choice but to take a loan.


What interest can I expect if I want a loan for a month? What do they usually ask a security? Also, I'm a HK resident but not a permanent one - do I stand any chance to get a loan?


Thanks.

Yes I am, what's your problem.

I borrowed over $20k already =)


What I found is that there are some "finance companies" on Central, they don't disclose the rate on their websites but they seem to be legal and don't ask for income proof.


I'll try to drop by and ask them.

Zhang, loan shark in HK are run by triad gangs, you really have to think twice before you borrow money from them, these are not people you can mess up with. 5K for living allowance is not much in HK, and can only last you for a short while (not even a month), then what??

Amparo is so right. If you go to a loan shark and can't pay back, you'll be harassed, threatened, maybe even friends and family. Do go there... really! 5K is nothing and SO not worth stooping as low as going to a loan shark mate.

Zhang, I have to say you are making a very serious and foolish mistake if you borrow from any loan sharks. You will be opening a door that will not be closed anytime soon. Loansharks here in HK are generally affiliated with the Triads and those are folks you do not want to get even remotely cozy with, especially for $5K. If you had to borrow $20K from friends and need another $5K you are probably living beyond what you need. Are you gambling or something ? Generally with loan sharks they will lend you money and you have to pay them interest on the principle loan until you can pay that back in full. For example, if you borrow $5K they may ask for 20% Vig (interest), so you will have to pay them back at least $1K a week until you payback the $5K. The 20% you pay every week does not go towards paying off the main loan, it is separate. You may borrow $5K and end up paying them $50K until you can pay it off. They use threats and violence against your family and friends for security. If you don't pay you may end up on the other end of a beating or a meat clever attack which is their weapon of choice. I would seriously reconsider borrwoing from a loanshark if I was you.