SINGAPORE - John (not his real name) struggled to meet his personal expenses and support his family after his salary was cut by more than half in March.
The 27-year-old later borrowed a total of $10,000 from two licensed moneylenders but was unable to make his monthly repayments when he suffered another pay cut.
Already a subscriber? Log in
Read the full story and more at $9.90/month
Get exclusive reports and insights with more than 500 subscriber-only articles every month
ST One Digital
$9.90/month
No contract
ST app access on 1 mobile device
Unlock these benefits
All subscriber-only content on ST app and straitstimes.com
Easy access any time via ST app on 1 mobile device
E-paper with 2-week archive so you won't miss out on content that matters to you
