14/07/2025
A harrowing tale of financial distress and alleged illegal debt collection practices has emerged in Hong Kong, placing licensed lender WeLend Limited and its associated collectors—Bonus Asset Management, BIBO Limited, and East Luck Consultants—under scrutiny. An aggrieved resident claims three years of relentless harassment over a 2021 loan (Ref: 34887232) have pushed them to the brink, prompting a formal complaint to authorities and a public plea for justice.
The aggrieved, who defaulted due to severe health issues—gallstones, pancreatitis, hiatal hernia, depression, insomnia, anxiety, and digestive problems—exacerbated by unemployment during the COVID-19 pandemic, says they are now mentally ill and jobless. “I’ve offered payment plans—HK$500 a month in May 2022, HK$1,000 in September 2022, and again to East Luck’s Ms. Jamie on July 11, 2025—but they demand the full amount I can’t pay,” they told this reporter. They argue this violates the Unconscionable Contracts Ordinance (Cap. 458), potentially rendering the debt unenforceable under the Money Lenders Ordinance, Section 23.
Their ordeal escalated three days ago when East Luck Consultants contacted their spouse, allegedly threatening immigration action—a possible breach of Licensing Condition 10. The aggrieved also alleges data breaches, with debt details shared without consent, and intimidation, including threats of blacklisting from Ms. Jamie (reachable at 38476125). East Luck’s inconsistent addresses—Rm 1811, Fortune Commercial Building, Tsuen Wan, and Room 2206, APEC Plaza, Kwun Tong—and lack of verifiable contact details raise further red flags. BIBO Limited’s tactics, including hundreds of calls and fake delivery notices dated October 31, 2022, add to the pattern of alleged misconduct.
The situation intensified last week. On July 10, the aggrieved demanded the debt be voided. WeLend responded with a promise to “investigate,” pausing collection from July 11 to 14, which they call a “stalling trick.” On July 13, WeLend’s Mr. Choy made a 45-second call, which the aggrieved describes as an attempt to “bait” them into an agreement. “I’ve insisted on written communication only—unrecorded calls feel like a dodge,” they said.
At 5:48 PM today, the aggrieved emailed the Registrar of Money Lenders, PCPD, Police, Consumer Council, FSTB, IRD, and WeLend’s Kenneth Choy and Dennis Ko, seeking debt cancellation, license review, and disclosure of collector communications. However, emails to [email protected] and [email protected] bounced with “address not found” errors, hinting at contact issues. Successful deliveries to [email protected], [email protected], [email protected], and [email protected] yielded only automated replies, with no concrete action promised. “It’s like they’re hiding,” the aggrieved lamented, attaching evidence—correspondence from May 2022 to November 2022, medical letters, call logs, their spouse’s statement, and address screenshots.
This case underscores broader economic concerns. The aggrieved argues such practices lock vulnerable individuals out of Hong Kong’s struggling economy, where multinational headquarters jobs have dropped 33% since 2023 and property development loans fell 12.6% last year. “It’s not just me—it’s a system failing us,” they said.
Faced with inaction, the aggrieved has turned to the press, sending this statement to the South China Morning Post (201 Electric Road, North Point, [email protected]) and Hong Kong Free Press ([email protected], contact via website for physical address), urging public support. They demand the debt be voided, removed from credit records, and collector communications revealed by 06:21 PM HKT, July 15, 2025, threatening court action if ignored. “I’m suicidal with nothing to lose,” they confessed. “I’ll fight until resolved or worse.”
Authorities have yet to comment substantively. The PCPD acknowledged receipt at 5:48 PM and 5:50 PM, promising follow-up, while the Companies Registry ([email protected]) and others offered similar vague assurances. With email bounces exposing potential communication gaps, questions linger about regulatory oversight of licensed lenders and their agents.
This reporter will continue to monitor developments. Victims are encouraged to come forward via , as the aggrieved seeks strength in numbers to challenge what they call a “debt trap” threatening Hong Kong’s financial fabric.
