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Family complains after house seized and sold for Bt2mn over Bt17,000 student debt

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Certainly something strange here. I have some experience with the legal execution department(บังคับคดี) And when they sell something at auction they are required to give the owner an opportunity to find a buyer at a higher price or repay the debt. 

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17 hours ago, sanmyintmaung said:

Probably the daughter use her father name as loan guarantor in the contract. Father cannot read so he might not know that he is signing the contract for loan.

He may never even have been aware it existed too !

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13 minutes ago, Peterphuket said:

Wow, that's what we call "Western Style"

Yep, In the west economies tank, we look forward to

Negative interest, removing cash from bank Greek style,

banks foreclosing, currency devaluation.

Worlds looking good for some, innit?

 

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A similar thing happened to my wife before I met her. She had been sending the family money to pay mortgages on 3 properties for which she had a taken a mortgage of about 3 million baht. The family stole all the money. They sold one property, and the bank reclaimed the other two in 1996. Ten years later in 2006 the bank claimed that the sale of the properties had not raised enough money to cover the original debt plus 20% pa interest. She was sued for 10 million baht or so. 

The judge froze her passport so she couldn't travel at all and she was in bankruptcy court for about 6 years. She could not own anything at all during that period. It was very inconvenient. Eventually after semi-annual court appearances the debt was discharged but of course the whole court thing of hiring a lawyer and so many appearances, cost a lot of money. 

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The Father most likely signed the papers for the loan as the Guarantor without even knowing what he was doing, especially if he can't read or write.  Possible his 'Signature' or 'Thumb Print' was used without him knowing; this sort of thing goes on all the time in the Land of Liars and Cheats, been instances of it in Wifes family and another family we know well.

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2 hours ago, worgeordie said:

There are a lot of older Thai people that cannot read or write,

they use their thumb print to sign documents,

regards Worgeordie

My Portuguese cleaning lady cannot  read nor write.  (In Europe).

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If only there was a way this could have been avoided.

  • Haha 2

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the student loans company are ruthless here, especially with government workers

 

just one month ago my partner and her colleagues all got a letter saying 15,000THB would be taken from their July salaries to repay student loans

 

how are they expected to come up with such an amount at short notice

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I think students think if they forget about the loans , they will be forgotten about by the loan company / banks.

People have plenty of time to pay back the loans and some choose not to , then cry when their collateral is siezed.

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19 hours ago, Farang Eddie said:

What can I do to help these people ?

I would like to help them as well .

I was thinking along the lines of me giving them 17 000 Baht and then me getting a 49 % share of the house ,  how was you thinking about helping them ?

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58 minutes ago, cyril sneer said:

the student loans company are ruthless here, especially with government workers

 

just one month ago my partner and her colleagues all got a letter saying 15,000THB would be taken from their July salaries to repay student loans

 

how are they expected to come up with such an amount at short notice

Was it really short notice or did they ignore repayments and letters.

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Posted (edited)
1 hour ago, Don Mega said:

If only there was a way this could have been avoided.

There was. I know what that could have been.:coffee1:

Edited by brianthainess

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5 minutes ago, brianthainess said:

Was it really short notice or did they ignore repayments and letters.

short notice

 

repayments cannot be ignored with government jobs, it's taken directly from the salary

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