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Domestic Helper Loans

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  1. #31

    Join Date
    Feb 2009
    Location
    Hong Kong
    Posts
    2,798
    Quote Originally Posted by paddylast:
    Do you not think it's more of a cultural thing and result of circumstances?

    From a western culture, I'm often quite shocked and uncomfortable at how some Asians (from poorer places) are with money. These women who come to HK to work are doing so for their families and are inextricably linked to the culture and ways of doing things at home. I think for the majority financial education may be too late and at odds with their culture. Often the stress is brought on by the structure of their society, where old people have no income at all and no state benefits, and often in ill health due to poor lifestyle and diet.

    I don't think they are stupid people necessarily who don't understand money or the risks. They simply don't have any options because of circumstances.

    How are financial education classes going to help people who can't save money because they are basically being exploited in HK by agents, rich, and poor alike, and they're obligated to take care of their family at home. To me, it's a bit like teaching a homeless alcoholic how to iron a shirt.
    There are plenty of people in the west who get themselves in to a huge debt mess too - and plenty of domestic helpers who don't. I don't think you can make such sweeping generalisations nor just view it as a lost cause. Particularly for younger women who may just be starting their time working overseas.

  2. #32

    Join Date
    Dec 2002
    Location
    Hong Kong
    Posts
    5,175

    We hired a first timer years ago. I paid everything (agency etc) and she was loan free. But one of the crazy helper's in our building decided to put her name down as a guarantor of a loan. Neighbor gave the lenders our land line # and they called to verify if she was employed etc. Luckily I picked up the phone and interrogated the lenders asked them to remove my helper as a guarantor.

    However, the second time she wasn't that lucky and a cousin did the same. Cousin did a runner and emigrated to Canada and left my helper to pay off the loan. Again we stepped in and helped her pay it off.

    Beanieskis and tf19 like this.

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