CAP congratulates the Attorney-General Tan Sri Abdul Gani Patail forproposing that the no-fault liability scheme be implemented.
Such a scheme is long overdue.We had as far back as the late 1970s and in the early 1990s, called for the introduction of some kind of no-fault motor insurance to benefit consumers.The idea behind no-fault insurance is to get accident victims compensated as quickly as possible.
We are all aware of the havoc Ah Longs have wrecked in the lives of the families where one of its member was unfortunate enough to have borrowed money from the Ah Longs.
How many more suicides, how many borrowers have to be disowned by their families before government takes the Ah Long problem seriously? We cannot take the attitude that these people should have known better than to borrow from Ah Longs.
With their high interest rates, and unsavoury reputation, those who chose to borrow from the Ah Longs can only be said to be desperate.
For the compulsive gambler, gambling is an addiction and when he has a craving for it, nothing else matters. The gambler is so consumed by his addiction t that he cannot break from it though he knows that he is hurting his family. When his money runs out he takes loans from the Ah Longs to feed his addiction.
It is nothing new to read in the papers about a house been splashed with red paint by Ah Longs or a parent tearfully and publicly disowning a son in the hope that the Ah Longs will leave the rest of the family alone. Now and then an Ah Long victim may take his own life as it is the only way to escape.
You do not find yourself up to your neck in debts overnight. These things take time. There are signs to watch out for. If you are experiencing any of the following symptoms below, you’ re over-extending yourself financially. It is time to do something about it.