Experince with loan shark

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bumper
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Experince with loan shark

Post by bumper » June 19, 2018, 9:59 am

My ex wife borrowed 80K from one.

Made 7 payments of 14,000 Baht ( 980,000 )

Now the Shark wants 140,000 Baht or payments 20,000 per month.

That alone sounds like a abusive interest

I knew nothing about this until yesterday

I have signed nothing supposedly my name is not on the contract

Anyone been through this before?

I simply told them to sue me.



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stattointhailand
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Re: Experince with loan shark

Post by stattointhailand » June 19, 2018, 11:00 am

I think interest is usually about B2,400 PER MONTH on 80K.

Sounds like it been owing for some time and the seven payments were not made on the due date every month, more like pay one miss two pay one miss three pay one etc etc

Be careful bumper these individuals are often part of much larger groups and can often have nasty sidekicks

minimiglia
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Re: Experince with loan shark

Post by minimiglia » June 19, 2018, 12:12 pm

usually 10% per month, they won't sue him, just shoot him.

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sometimewoodworker
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Re: Experince with loan shark

Post by sometimewoodworker » June 19, 2018, 12:35 pm

minimiglia wrote:
June 19, 2018, 12:12 pm
usually 10% per month, they won't sue him, just shoot him.
Probably more likely to be the odd bone or two broken first. People in pain can pay, dead ones not so much.
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Re: Experince with loan shark

Post by skinner » June 19, 2018, 1:17 pm

Lucky for you its your EX WIFE. However, if you feel the need to dig her out of the s*it, pay it all off at once so its finished with, and you don't need to deal with these people anymore.

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Brian Davis
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Re: Experince with loan shark

Post by Brian Davis » June 19, 2018, 1:51 pm

Perhaps I'm being naive here, but I thought there were controls in place to prevent extortionate interest rates. But perhaps that can operate only on official money-lenders? Sorry, but to borrow money elsewhere is crazy. Even dodgy to involve the police because, I regret, one has only to watch tv to know the Thai don't tend to forget or mess about. I've no desire to increase concern, just being honest.

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Re: Experince with loan shark

Post by bumper » June 19, 2018, 3:56 pm

I think so as well Brian I will be talking to the Attorney Friday. Skinner no desire to dig her out. Little ladies have showed up today. So who knows what the real numbers are.

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Re: Experince with loan shark

Post by papafarang » June 19, 2018, 4:12 pm

if you did pay it off the lenders would just offer her the same deal again as soon as they finished counting it, she would accept. so within an hour of giving her the cash it would start all over again .
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Old Grumpy
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Re: Experince with loan shark

Post by Old Grumpy » June 19, 2018, 5:10 pm

It is my experience that these guys would only loan a large amount like that , against some collaterel, so I would check any possessions you have , cars , bikes etc to see if you still have the log books .

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Hoopoe
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Re: Experince with loan shark

Post by Hoopoe » June 19, 2018, 7:02 pm

Got to agree with old grumpy here , my friend lost his house due to his wifes brother putting the deeds of my fiend & his wifes house up against it , to the merry tune eventually 4.5 mil, He did not sign any papers etc , but i suspect his wife did , but she (of course denied it all ) said it was all her brothers doing , i never did get the full story ,

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Re: Experince with loan shark

Post by dunroaming » June 19, 2018, 9:48 pm

My ex did the same to me and much more, I filled a report at the police station when others came calling or i received letters I handed them or sent back a copy of the report. Never hand any problems after that

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Re: Experince with loan shark

Post by minimiglia » June 20, 2018, 6:28 am

Hoopoe wrote:
June 19, 2018, 7:02 pm
Got to agree with old grumpy here , my friend lost his house due to his wifes brother putting the deeds of my fiend & his wifes house up against it , to the merry tune eventually 4.5 mil, He did not sign any papers etc , but i suspect his wife did , but she (of course denied it all ) said it was all her brothers doing , i never did get the full story ,
It was more likely her Thai husband, not brother

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maaka
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Re: Experince with loan shark

Post by maaka » June 20, 2018, 7:25 am

agree with most replies here..

had to bail the missus's sister out last year , well I bought her land, and she supposedly paid off her debt..
Guys on motorbikes with baseball bats were turning up every night, demanding their money, she said kill me, they said no we wont do that as you cant pay after that, but we will hurt you..

once I bought her land, straight off she went and got in trouble again with the same crowd..we think she has a gambling habit, because we dont see where the money goes..she even sold the land she had given to her daughter.

even used her best friend assets as collateral without her knowing it...and also we hear she has borrowed from most people in the village..Thais do this alot..they dont go to the bank for a loan. They go the village chairman or someone..

all I can say is stay away from these dudes with bats..if they are like my extended family back home, who are in the same collection business, then they may have done time inside, be in a gang, or what have you.

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Re: Experince with loan shark

Post by bumper » June 20, 2018, 8:17 am

This one wasn't the first one had a Scooby motorcycle as collateral I could care less we had prenep and the bike was hers anyway. What I have to worry about is the house I have a lease on it. Nut. I don't know if that will hold water or not. The car is also hers they take no sweat off my brow. I was thinking of the Police report I will follow the advice of my lawyer.

It was funny the locals in the village found out what was happening, they were all over the loan shark. Their are people in the village they gave her no interest loans. Those I will pay their not loan sharks.
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Re: Experince with loan shark

Post by bumper » June 20, 2018, 8:25 am

Interesting turn of event this morning the loan shark is now saying 80 K and 10 K a month for eight months. If I get that in writing I might think about it. Still taking the meeting with the lawyer.
I reserve the right to be wrong, mispell words type badly. leave words out of sentences because my mind works faster then my fingers. To be an OLD GIT I've earned it

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Brian Davis
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Re: Experince with loan shark

Post by Brian Davis » June 20, 2018, 9:06 am

bumper wrote:
June 20, 2018, 8:25 am
now saying 80 K and 10 K a month for eight months
That does rather suggest that they're making it up as they go along.

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Old Grumpy
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Re: Experince with loan shark

Post by Old Grumpy » June 20, 2018, 9:17 am

Brian Davis wrote:
June 20, 2018, 9:06 am
bumper wrote:
June 20, 2018, 8:25 am
now saying 80 K and 10 K a month for eight months
That does rather suggest that they're making it up as they go along.
Sounds more like family members trying it on than 'professional" lenders.All the the big boys in my area give very strict precise agreements which are definitely non negotiable .Maybe the ex is in coersion with the scam .Put nothing past the wiles of a jilted ex.

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Re: Experince with loan shark

Post by bumper » June 20, 2018, 9:59 am

I will make the meeting with the lawyer I want to see the original contract and the payments made nothing etched in stone yet. Where I might run into a problem is we were married when she did all this stuff. My real advantage is my retirement follows me wherever I choose to go. Downside I lose all I have built over 15 years ( that's not likely with the prenep )

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Brian Davis
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Re: Experince with loan shark

Post by Brian Davis » June 20, 2018, 11:48 am

Well, I'm pleased to read that there's a contract and records. I rather thought these kind of arrangements lacked that.

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TAXIfor7/11
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Re: Experince with loan shark

Post by TAXIfor7/11 » June 20, 2018, 12:30 pm

im thinking along the same lines as brian davis and old grumpy

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