Nowadays, there are still a number of myth and misunderstanding towards the business and the code of practice of money lenders, but in fact they are no longer true. When the notion of borrowing money from a money lender comes to mind, the phrases "Loan Shark", "Usury (Guili)" or "Pour Red Paint" may flash across one’s mind. Besides, a lot of people still do not understand why there is a need to loan from a money lender rather than a bank if a person is financially healthy. Moreover, even though the warning message “You have to repay your loans. Don’t pay any intermediaries” are frequently heard and seen now, many people still do not know how to distinguish the legal and illicit intermediaries to avoid financial scams.

With an aim to unveil the myth and misunderstanding of the money lending industry and provide the correct and updated information to the public, as well as to help the public better understand how to identify legal intermediaries to avoid unnecessary loss, United Asia Finance Limited (“UA”), being the leader of the money lender industry servicing over 520,000 Hong Kong peoples since 1993, takes the initiative to partner with ViuTV to produce a series of infomercials “UA x ERROR Smart Tips on Consumer Finance”. It is likely the first time ever that comprehensive and correct information is openly and explicitly shared on those myth and misconception. With the release of the infomercials, it is wished that the myth and false concept of the industry can be released. What’s more, with the updated and correct information delivered, the general public can be well acknowledged on the true condition now and thus can know how to smartly choose the legal and trustworthy finance companies to solve their problems when in need.

There is a total of 5 episodes of “UA x ERROR Smart Tips on Consumer Finance” featuring the 4 members of the boy’s singer group “ERROR” comprised of Fat Boy (Leung Yip), Ah Dee (Ho Kai Wah), 193 (Kwok Ka Chun) and Poki (Ng Po Ki). Fat Boy takes the main role as the one who is eager to search and apply for a loan but repeatedly makes the wrong decisions with some misconception of lending. Fortunately, every time when he almost hits the wall due to ignorance, the knowledgeable Professor Loan (acted by Ah Dee) will come to save him at the critical moment, simultaneously sharing the correct and updated information on money lending and finance company with him and help him to solve the problems satisfactorily.

The first two episodes talk about “How to Choose Between Bank and Money Lenders” and “How to Make the Smart Choice” among different finance companies available in the market. The episodes pinpoint the fact that not every finance company is the same. To protect oneself from risk of loss and scam, customers should carefully choose the well-established and reliable company with years of history as they strictly follow the guidelines of money lenders ordinances of Hong Kong and the code of practice set by the Licensed Money Lender Association.

The third episode "Healthy Financing” reveals the truth that well-established, reliable and trustworthy finance company never irresponsibly approves any applications simply for making profits. On the contrary, they carefully understand the actual need and situation of each customer which include their repayment ability and financial status, etc., and then they will work out the most suitable loan solution tailor-made for each customer. The fourth episode "Intermediary Scam" discloses how illicit intermediaries use different fake identities to cheat the borrowers, and then turns out the borrowers are made to pay extra fees to them finally. In fact, it is by law that all intermediaries are prohibited to charge any additional fees from the borrowers.

The final episode "The False Concept on Collection Practice” unveils the long-stand myth of “Red Paint Pouring” of money lenders. Nowadays, the debts collection activities taken by well-established and trustworthy money lenders are in fact no different from those of major banks. They must strictly follow the guidelines of regulatory authorities in every way.
“UA x ERROR Smart Tips on Consumer Finance” was released on ViuTV on May 6, 2019, Monday to Friday at 9:00 pm. The videos will also be broadcast on other timeslots on ViuTV, its online platform and YouTube channel (United Asia Finance). Take a look on the funny performance of ERROR to see how they reveal the myth for you, don’t miss it!
Links of the videos: http://bit.ly/2VqfVNF

For 25 years since its establishment, with the philosophy of putting customers first through an attentive and professional service attitude, UA has been providing diversified and caring personal loan services to over 520,000 customers in Hong Kong. The comprehensive and diversified online and offline channels of UA include APP, digital platforms, telephone and extensive branch network throughout Hong Kong, offering the most suitable loan solution for customers to fully support and care for their needs to enable them to let go of the worries.

For more information on UA and their loan services, please call 2681 8888 or visit us at www.uaf.com.hk