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.

Please subscribe or log in to continue reading the full article.

Get unlimited access to all stories at $0.99/month

• Latest headlines and exclusive stories
• In-depth analyses and award-winning multimedia content
• Get access to all with our no-contract promotional package at only $0.99/month for the first 3 months*

*Terms and conditions apply.

Source: Read Full Article