Popular Post Mountain Man Posted October 4, 2020 Popular Post Share Posted October 4, 2020 Does anyone have advice on how to deal with loansharks? My wife paid off a loan last year in good faith , but the people in question are back demanding more money, and my wife doesn't know where to turn (she is afraid of them). A lawyer cousin seems to think that they have a case. Are there any government agencies that could help with this, or does anyone else have any experience of this sort? 2 1 Link to comment Share on other sites More sharing options...
Popular Post mstevens Posted October 4, 2020 Popular Post Share Posted October 4, 2020 Laws were introduced a few years ago to counter the demands made from loan sharks. The problem is that loan sharks might actually be people who are often in uniform and / or are not the nicest people in the world and will react in an unpleasant way if the law comes after them. Not the advice you want to hear, I am sure, but sometimes the best thing to do is to establish what the debt was for, how much it is and clear it once and for all. 9 Link to comment Share on other sites More sharing options...
Crossy Posted October 5, 2020 Share Posted October 5, 2020 A number of off topic / flame / troll posts and replies have been removed. Link to comment Share on other sites More sharing options...
Popular Post Tagged Posted October 5, 2020 Popular Post Share Posted October 5, 2020 3 minutes ago, KC 71 said: That'll go down well What can possible go wrong? First of all, why she used a loan shark? I would have left my gf or wife, or whatever if I heard she used service from a loan shark. I heard about simular cases, where the wife scared the husband to pay off, and off course there where no loan shark, and also another wife took loan to scare off husband to pay, and I heard about loan sharks got the message above, and did nothing about it except used months to settle it. . Never heard anyone had physical trouble so far, just empty threats. 3 2 1 Link to comment Share on other sites More sharing options...
Don Mega Posted October 5, 2020 Share Posted October 5, 2020 4 hours ago, Tagged said: What can possible go wrong? First of all, why she used a loan shark? I would have left my gf or wife, or whatever if I heard she used service from a loan shark. I heard about simular cases, where the wife scared the husband to pay off, and off course there where no loan shark, and also another wife took loan to scare off husband to pay, and I heard about loan sharks got the message above, and did nothing about it except used months to settle it. . Never heard anyone had physical trouble so far, just empty threats. Couple of weeks back it was in the news media bout a loanshark was a arrested as he had paid a hitman to kill someone, wonder if that was over money owed ? Link to comment Share on other sites More sharing options...
Popular Post FritsSikkink Posted October 5, 2020 Popular Post Share Posted October 5, 2020 4 hours ago, Tagged said: What can possible go wrong? First of all, why she used a loan shark? I would have left my gf or wife, or whatever if I heard she used service from a loan shark. I heard about simular cases, where the wife scared the husband to pay off, and off course there where no loan shark, and also another wife took loan to scare off husband to pay, and I heard about loan sharks got the message above, and did nothing about it except used months to settle it. . Never heard anyone had physical trouble so far, just empty threats. That you never heard about physical trouble says nothing, it happens. 4 Link to comment Share on other sites More sharing options...
flynn Posted October 5, 2020 Share Posted October 5, 2020 12 hours ago, mstevens said: Laws were introduced a few years ago to counter the demands made from loan sharks. The problem is that loan sharks might actually be people who are often in uniform and / or are not the nicest people in the world and will react in an unpleasant way if the law comes after them. Not the advice you want to hear, I am sure, but sometimes the best thing to do is to establish what the debt was for, how much it is and clear it once and for all. 2 Link to comment Share on other sites More sharing options...
Popular Post Tagged Posted October 5, 2020 Popular Post Share Posted October 5, 2020 2 hours ago, Don Mega said: Couple of weeks back it was in the news media bout a loanshark was a arrested as he had paid a hitman to kill someone, wonder if that was over money owed ? I guess it happens, to bad for his wife then, one way or another he have to get rid of here, if he was not part of it himselves. Maybe she did not pay him off, and kept the money her selves. Irony, ok, but seriously, getting involved with a loan shark? I never trust OP with zero posts coming here with delicate cases, but I know it happens, so it is interesting for those who have not been around to much yet, not seen or heard every trap they can fall in to, so hopefully a sober discussion can prevent one or two deleted cases. 3 Link to comment Share on other sites More sharing options...
beavenlen Posted October 5, 2020 Share Posted October 5, 2020 Had similar problem. only way is to demand to see agreement papers and if produced pay em off or if no see tell em to f off. worked for me 3 outta 4 got paid off. otherwise its a case of taking them on, which isn't advised, do a runner and hope they dont find you. 2 Link to comment Share on other sites More sharing options...
natway09 Posted October 5, 2020 Share Posted October 5, 2020 Handle with great caution. If the loan boys will talk not shoot try & get the details from them with the wife & if you have a friend in the constabulory present. I know a case where paid the loan off but refused to pay the interest. Sometimes it can be resolved That is a recipe for disaster Link to comment Share on other sites More sharing options...
GordonP Posted October 5, 2020 Share Posted October 5, 2020 An ex of mine (ex because she had no money sense at all and I tired of bailing her out) did get seriously (face beaten to permanent disfigurement) beaten because of the money she owed. For months I had very unsavoury characters hanging around my condo looking for her. These are not your normal type debt collectors we encounter in the west 2 Link to comment Share on other sites More sharing options...
xtrnuno41 Posted October 5, 2020 Share Posted October 5, 2020 There have been articles in TVF about loan sharks and government involvement. People getting their properties back. Guess you try to find those articles and see what buro is dealing in that. Link to comment Share on other sites More sharing options...
KKr Posted October 5, 2020 Share Posted October 5, 2020 15 hours ago, Mountain Man said: Does anyone have advice on how to deal with loansharks? Don't. unless you enjoy regularly getting visits from several unsavoury and aggressive people at the time, plus their lookouts on the street during deliberations inside the house, like my neighbours used to .. .. If the Bank does not loan you money, you cannot afford to borrow. Easy rule. 2 Link to comment Share on other sites More sharing options...
Popular Post Tagged Posted October 5, 2020 Popular Post Share Posted October 5, 2020 13 minutes ago, GordonP said: These are not your normal type debt collectors we encounter in the west You mean Preben from HA, Amad from Bosnia, Nikola from serbia, Juri from russia or Ali from pakistan is a better deal on your door back home? ???? 2 3 Link to comment Share on other sites More sharing options...
Popular Post Foghorn Posted October 5, 2020 Popular Post Share Posted October 5, 2020 How much we talking , if it ain’t too much ,pay them because money as no meaning if you have a bullet in the head , and give wife a slap on the head for loaning from them. Moving home costs money , cars damaged cost money ,police cost money , only you know if your wife lies 3 Link to comment Share on other sites More sharing options...
Tagged Posted October 5, 2020 Share Posted October 5, 2020 1 minute ago, Foghorn said: only you know if your wife lies And to often the last One to know 1 Link to comment Share on other sites More sharing options...
Stevemercer Posted October 5, 2020 Share Posted October 5, 2020 The problem is finding out how much she actually owes. Your wife may not be entirely honest with you. And you don't want to get involved in any face to face talks with the loan sharks. They won't go after a westerner, but they will use threats on your wife. Most loan sharks won't do physical harm. They will just keep harassing your wife until she pays. You can get a lawyer to draw up a contract to pay off the balance of the capital (with no interest) at an agreed rate. Such a contract would be enforceable by a civil court. The loan shark will normally accept this 'solution'. 2 Link to comment Share on other sites More sharing options...
Bigz Posted October 5, 2020 Share Posted October 5, 2020 Last year there was a big police crack down on loan sharks. In Buriram alone hundreds lenders were forced to return land/cars, other assets or to rewrite contracts with a legal interest rate. Could have been a one off thing though.. 1 Link to comment Share on other sites More sharing options...
CanadaSam Posted October 5, 2020 Share Posted October 5, 2020 I would suggest a pro-active approach. Get them to meet you (and or gf) and discuss the issue. Solve it with a minimum of fuss and cash. 1 Link to comment Share on other sites More sharing options...
caughtintheact Posted October 5, 2020 Share Posted October 5, 2020 The OP said, "A lawyer cousin seems to think that they have a case." Why is that? And if they do have a case does that mean your wife doesn't and needs to pay them? One place to start looking for more information is https://www.tilleke.com/resources/thailand-new-law-interest-overcharging 1 Link to comment Share on other sites More sharing options...
smutcakes Posted October 6, 2020 Share Posted October 6, 2020 13 hours ago, Bigz said: Last year there was a big police crack down on loan sharks. In Buriram alone hundreds lenders were forced to return land/cars, other assets or to rewrite contracts with a legal interest rate. Could have been a one off thing though.. Lol, yea i am sure those money lenders have simply written all the monies owed to them off....... Link to comment Share on other sites More sharing options...
hotchilli Posted October 6, 2020 Share Posted October 6, 2020 On 10/5/2020 at 1:28 AM, Mountain Man said: Does anyone have advice on how to deal with loansharks? My wife paid off a loan last year in good faith , but the people in question are back demanding more money, and my wife doesn't know where to turn (she is afraid of them). A lawyer cousin seems to think that they have a case. Are there any government agencies that could help with this, or does anyone else have any experience of this sort? Depends on who or how high up the food chain the "money man is", if a debt is unpaid the lender will instruct the collectors as to what to do. This is where it can get messy, if they're okay pay off the debt and get something signed to say it is finished.. if you don't want to pay then move house. Link to comment Share on other sites More sharing options...
BTB1977 Posted October 6, 2020 Share Posted October 6, 2020 You need to pack up and leave that stupid wife. Why she would but you in harms way only tells you she doesn't care. And believes she can do whatever she wants and can take advantage of you to bail her out. Make it clear it is her problem and she has to make it right. Your not the first faŕang that had to do a runner because their wife owed money to the mafia. I know of 10 at least. Your wife thinks you are an easy mark. She has a serious problem and no respect for you. I made it very clear to my wife that if she does anything like borrowing money she is out on her ass. Start selling anything that is yours and move on. Good luck. 2 Link to comment Share on other sites More sharing options...
Don Mega Posted October 6, 2020 Share Posted October 6, 2020 1 hour ago, hotchilli said: Depends on who or how high up the food chain the "money man is", if a debt is unpaid the lender will instruct the collectors as to what to do. This is where it can get messy, if they're okay pay off the debt and get something signed to say it is finished.. if you don't want to pay then move house. And if the debt is large enough they will take the house !! Link to comment Share on other sites More sharing options...
hotchilli Posted October 6, 2020 Share Posted October 6, 2020 4 minutes ago, Don Mega said: And if the debt is large enough they will take the house !! If the debt is that large I'd sell the house and move province, if it's rented no problem, pack & go Link to comment Share on other sites More sharing options...
Hamus Yaigh Posted October 6, 2020 Share Posted October 6, 2020 18 minutes ago, BTB1977 said: You need to pack up and leave that stupid wife. Why she would but you in harms way only tells you she doesn't care. And believes she can do whatever she wants and can take advantage of you to bail her out. Make it clear it is her problem and she has to make it right. Your not the first faŕang that had to do a runner because their wife owed money to the mafia. I know of 10 at least. Your wife thinks you are an easy mark. She has a serious problem and no respect for you. I made it very clear to my wife that if she does anything like borrowing money she is out on her ass. Start selling anything that is yours and move on. Bang on with all your points, except I'd keep the bit about 'knowing 10 more at least' to yourself. Takes one to know one and all that. Link to comment Share on other sites More sharing options...
Popular Post Yellowtail Posted October 6, 2020 Popular Post Share Posted October 6, 2020 If the attorney cousin thinks the loan shark has a case and that the wife sill owes money, why would you not just pay it back? People borrow money under conditions they agree to and then later decide the terms are unfair. If the terms are unfair, don't borrow the money. If you do borrow the money, pay it back. Loan sharks are not in the business of cheating people, they're in the business of renting money to people who typically have no other options. 4 Link to comment Share on other sites More sharing options...
KarenBravo Posted October 6, 2020 Share Posted October 6, 2020 Nobody forces anyone to seek a loan from a loan-shark. Interest rate has been agreed by the borrower. The loan-shark is just holding the borrower to the agreement. Don't approve of their scare tactics when payments fall behind, but, it takes two to tango. Just another perspective. 1 Link to comment Share on other sites More sharing options...
AlfHuy Posted October 6, 2020 Share Posted October 6, 2020 10% a month happens very often. 120% a year. Crazy. 2 Link to comment Share on other sites More sharing options...
Yellowtail Posted October 6, 2020 Share Posted October 6, 2020 7 minutes ago, AlfHuy said: 10% a month happens very often. 120% a year. Crazy. Assuming it's compounded monthly that's 213% a year.... Link to comment Share on other sites More sharing options...
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