webfact Posted July 23, 2019 Share Posted July 23, 2019 Loan sharks arrested after charging woman 300% interest Thai caption: Loan Sharks charging 300% interest Authorities in Nakorn Sri Thammarat in southern Thailand conducted a sting after a woman reported she had fallen victim to a loan shark gang. Charlie, 35, and Chaiyaporn, 33, were caught red handed. "Srivichai" special forces seized their money (23,400 baht) and their pick-up. They said they worked for a big boss in Surat Thani and were collecting debts. The victim had borrowed 20,000 baht but been given only 18,000 because there were "special charges". She was then obliged to pay the gang 1,000 baht interest a day. She had parted with 60,000 baht over the past two months and the loan still hadn't been repaid. The two men arrested were charged with loan sharking. Source: Sanook -- © Copyright Thai Visa News 2019-07-23 Follow Thaivisa on LINE for breaking Thailand news and visa info Link to comment Share on other sites More sharing options...
RotBenz8888 Posted July 23, 2019 Share Posted July 23, 2019 9 minutes ago, webfact said: They said they worked for a big boss in Surat Thani and were collecting debts. Big boss is still out there.....????and he's not happy Link to comment Share on other sites More sharing options...
sammieuk1 Posted July 23, 2019 Share Posted July 23, 2019 Great news jail the snivelling lot of them for 300 years with a 300m fine so the tally book gets to tally ???? Link to comment Share on other sites More sharing options...
Phuketshrew Posted July 23, 2019 Share Posted July 23, 2019 Loan sharking? Sounds more like extortion to me. Link to comment Share on other sites More sharing options...
worgeordie Posted July 23, 2019 Share Posted July 23, 2019 300% thats nowt !, see adverts for payday lenders on Tv, 1300% and more,thats UK. no i am not condoning loan sharks,but desperate people need to think what they are getting into,when they take these loans. regards worgeordie Link to comment Share on other sites More sharing options...
justin case Posted July 23, 2019 Share Posted July 23, 2019 I wish I could get 5 percent a year, but bank only gives 2 and these sharks asking 300 Link to comment Share on other sites More sharing options...
xtrnuno41 Posted July 23, 2019 Share Posted July 23, 2019 They said they worked for a big boss in Surat Thani and were collecting debts. SO you go to bb and arrest him Link to comment Share on other sites More sharing options...
300sd Posted July 23, 2019 Share Posted July 23, 2019 Loan sharks are on the same level as drug dealers and murderers in my opinion. They ruin people's lives. They are scum. They seem to be everywhere in this country. Thais who use their services don't want to talk much....they are afraid. Link to comment Share on other sites More sharing options...
fxe1200 Posted July 23, 2019 Share Posted July 23, 2019 2 hours ago, justin case said: I wish I could get 5 percent a year, but bank only gives 2 and these sharks asking 300 Nobody able to calculate either the nominal and effective interest rate??? It is 5.960.364,478% effective and 1.636,359% nominal, considering she pays the interest at the end of every month, and received 18.000 THB only. That is way more than 300%. Link to comment Share on other sites More sharing options...
hotchilli Posted July 23, 2019 Share Posted July 23, 2019 8 hours ago, webfact said: The two men arrested were charged with loan sharking The two men were the collectors and they take the rap while the "big boss" is free as a bird ! Link to comment Share on other sites More sharing options...
pierrenoel Posted July 23, 2019 Share Posted July 23, 2019 that is give you and idea how they are stupid to borrow 20,000 and pay 1000 interet a day.LOS land of smile or land of s,,,,, Link to comment Share on other sites More sharing options...
digger70 Posted July 23, 2019 Share Posted July 23, 2019 Well now ,People should know by now that if one can't get a loan from a bank that you are in trouble if one goes to a Loan Shark ,,,, But Hey One can't fix stupid and that's what it is if one goes to a Loan Shark one Always lose. Link to comment Share on other sites More sharing options...
rosst Posted July 23, 2019 Share Posted July 23, 2019 9 hours ago, worgeordie said: 300% thats nowt !, see adverts for payday lenders on Tv, 1300% and more,thats UK. no i am not condoning loan sharks,but desperate people need to think what they are getting into,when they take these loans. regards worgeordie I am shocked to hear that, in OZ there is a mandatory cap on interest allowed to be charged and ALL LENDERS are licensed. Link to comment Share on other sites More sharing options...
fxe1200 Posted July 23, 2019 Share Posted July 23, 2019 2 hours ago, rosst said: I am shocked to hear that, in OZ there is a mandatory cap on interest allowed to be charged and ALL LENDERS are licensed. ...the same in Thailand, if I remember right the rate is set at 28% effective interest per anum. Link to comment Share on other sites More sharing options...
joskeshake Posted July 24, 2019 Share Posted July 24, 2019 I know somebody in Korat who has lend 300.000 and pay every month 7000, and her debt still stays at 300.000 until she can pay the full amount. Link to comment Share on other sites More sharing options...
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