Something to be aware of

valentine · Post by **valentine** » December 3, 2005, 12:06 pm

Not really a danger sign but a cautionary tale so I started a new forum. A lot of guys are coming here now to find a bride from a government profession, ie: teacher, nursing or amphoe, there are many ladies of this kind seeking farang husbands. Whilst most of us are aware they don't earn big money what is not so commonly known is that these posts carry a good retirement lump sum pension after several years service.Now comes the problem. They can borrow huge sums, up to 800,00bht that I know of, against this at any time after certain number of years service. The repayment contract allows minimal monthly repayments because the large sum is taken from the final pension payment.Now where we come in.If she leaves her employment at any time this amount becomes repayable instantly and in full.Where I live there are two cases that I know of. The first a teacher borrowed 800,000 has been married to an American for two years now but hasn't told him. He is constantly trying to get her to finish work and go to the States with him. He doesn't understand her reluctance, not knowing she can't finish work. She is frightened to tell him in case he calls it a day. So he keeps sending her money every month totally unaware of the real situation.
The second case is more recent, in fact it's ongoing. This lady is a nurse, her debt is more modest, less than 300,000bht.But she is going ahead with marrying a guy, that eventually wants to take her to USA.She is hoping after the marriage if he presses the issue she can explain and he will settle for her!!!This is , of course, addittional to the Sin Sod.
It is something to be aware of and to check very carefully before commiting yourself.

Post by **businessman** » December 3, 2005, 12:21 pm

Wise words.I know many government officials who have huge debts.They seem to build houses way beyond their means as a show of status.Lots of government institutions are willing to lend them cash at low rates of interest,often for a business venture that goes bust.

Another landmine is the fact a purchaser of a motorbike/car on finance needs a guarantor which is quite often a teacher as it requires a salaried person.If the economy went sour,the multiple guarantors would be in big trouble.

Post by **yorkman** » December 3, 2005, 2:48 pm

Spot on Val. And to add to this the government has just upped its interest rate on these loans from absolutely minimal, to a ripoff rate if they do not make the monthly payments; I guess to put off defaulters.

I know of one exactly the same (well they are not married, yet) as your first example. He does not understand her reluctance to move to the UK. The sum is about 200,000 only....but she dare not tell him the real reason in case he thinks she one of the "warning signs" brigade.

laphanphon · Post by **laphanphon** » December 3, 2005, 4:12 pm

correct me if i am wrong, but it is my understanding the husbands with registered marriages are responsible for debts of wife, after the marriage of course. but they can borrow on that land/house you paid for, or any loan after marriage you are responsible to repay.

valentine · Post by **valentine** » December 3, 2005, 5:22 pm

Sorry LA, bit confused with your question and I haven't been drinking yet!!
The husband is jointly responsible for any debts incurred by his wife after the marriage date, but not those previously. The registered owner of the property can borrow on it regardless of the source of the means to purchase, unless of course it was financed ie: bank loan etc.
Did I understand the question okay?