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The Moneylenders Act in Singapore governes the operations of moneylenders throughout the country. It's aimed to safeguard borrowers from unfair lending schemes. The Act sets limits on interest rates, expenses, and other conditions that moneylenders can impose on borrowers. It also provides legal recourse to borrowers who face difficulties with their moneylender.

Significant provisions of the Act include licensing requirements for moneylenders, prohibitions on certain lending methods, and punishments for violations of the Act.

Borrowers who require a loan should thoroughly examine the terms before committing into any deal with a moneylender. It's also important to understand your duties under the Moneylenders Act.

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Before choosing a moneylender, it's important to research their credibility and verify they are legally licensed. Look for glowing reviews from previous customers.

A authorized moneylender in Jurong East can be a helpful resource for residents facing debt. They provide qualified assistance to navigate your financial challenges.