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

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19 minutes ago, cyril sneer said:

short notice

 

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

Did I miss the part in the article where it say she was a government employee ?

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5 minutes ago, Don Mega said:

Did I miss the part in the article where it say she was a government employee ?

it's not referring to the article

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Posted (edited)
6 minutes ago, cyril sneer said:

it's not referring to the article

So in regards to the article it may well be the repayments were infact ignored then !!

 

But if a government employee there is no chance of a repossession whilst still employed, thats actually pretty cool.

Edited by Don Mega

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7 minutes ago, Don Mega said:

But if a government employee there is no chance of a repossession whilst still employed

I would doubt that is correct .....  what if your government salary is only 6,000 baht a month and you owe 500k  ?   I am sure repossession will still happen.

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1 hour ago, steven100 said:

I would doubt that is correct .....  what if your government salary is only 6,000 baht a month and you owe 500k  ?   I am sure repossession will still happen.

Not according to the poster I qouted.

 

Would someone with a 6k a month salary even qualify for a 500k+ loan ?

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3 minutes ago, Don Mega said:

Not according to the poster I qouted.

 

Would someone with a 6k a month salary even qualify for a 500k+ loan ?

probably not,  i was just referring to a debt and just say a court issues judgement that the defendant must pay back, and say the defendant has a government job so they may take some salary but it would take forever to pay 500k back.

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7 hours ago, Orton Rd said:

House looks like it's worth more like 500k, must have a lot of land with it. House was auction off 'publically' 2 weeks ago where we are after owner defaulted. Only nobody knew about it and only one local big wig was there to bid, first offer he gets it for about half what it's worth.

Ahh! That seems about right.

I was just going to say something very similar.

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On 6/25/2020 at 8:24 AM, webfact said:

Both refused to talk to reporters.

Stadtler is shocked.

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Posted (edited)

50 yards down the road from us , lived a Man , his daughter and her Two kids.

He had signed the house and a little bit of land over to her to save messing about with technicalities when he died.

She sold it behind his back to a woman from the other end of the village , saying " me and dad are moving " etc.

after the girl got the money in her bank account she left ,  and a couple of weeks later the new owner turns up to ask the man when he was leaving , as she wanted to start altering stuff.

Obviously the poor sod didn't know what was going on until the new owner explained it to him and showed him all the paperwork.

I will give the new owner her due , she let the man stay there rent and electric free until he could find somewhere else to stay.

He stayed about a month , then he just disappeared ..

 

Edited by NE1
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1 hour ago, steven100 said:

probably not,  i was just referring to a debt and just say a court issues judgement that the defendant must pay back, and say the defendant has a government job so they may take some salary but it would take forever to pay 500k back.

But Cyril Sneer was implying a government employee with a government loan has the repayments auto deducted from salary hence not being able to fall in arrears.

 

Or am I missing something ?

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On 6/26/2020 at 10:01 AM, Orton Rd said:

House looks like it's worth more like 500k, must have a lot of land with it. House was auction off 'publically' 2 weeks ago where we are after owner defaulted. Only nobody knew about it and only one local big wig was there to bid, first offer he gets it for about half what it's worth.

Takwood houses are very valuable for the lumber. Houses are dismantled board by board and recycled. Old wood is more valuable than new wood and is much sought after. 500K for a Teak house would be a shack.

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On 6/26/2020 at 11:56 AM, nickcar said:

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. 

Very true. My friend at the bank has pointed out numerous houses owned by the bank. It cab take years to sell them. 

Non bank lenders charge 3% per month. She must have had such a loan and it ended up at 2M and the lender settled.

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On 6/26/2020 at 1:04 PM, NE1 said:

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.

Loan companies show up and hound people for a long time. I've seen then in our village and my wife knows who they are. It's a long process and everyone knows.

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