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blackcab

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Posts posted by blackcab

  1. It depends.

     

    If you don't mind walking a bit then it's OK if the room rate is amazing.

     

    If there is not much in it price wise I would go for somewhere a bit more convenient.

     

    Soi 49 is about halfway between BTS Thong Lo and BTS Ekkamai. It's going to be a 10 minute walk to get to the BTS station. Soi 49 has no formal sidewalk and it's not brightly lit at night, but it's a very safe neighbourhood.

     

    There is a small 7-Eleven at the start of the soi, but other than that you do need to plan ahead a bit as there not much on the soi for tourists.

     

    If you have a particular area you are interested in exploring you would be better staying closer to that area rather than further away even if the cost is slightly more. If you are thinking of using taxis/uber be aware that at rush hour the Soi 49 section of Sukhumvit Road can get extremely congested and it is quite possible to spend an hour and only move 200 meters or less.

  2. 4 minutes ago, peterfranks said:

    At one point in the past he allowed someone to dump dirt on his land, so the last 20 meter he filled up more than 1 meter, but 30 centimeter from my perimeter wall.

     

    So when it rains the water stays between the filled area and my perimeter wall, probably undermining the foundation of my wall over time.

     

    What he did was perfectly legal, and if he is filling his land it would be considered fair and reasonable.

     

    The Civil and Commercial Code, Section 1339 states:

     

    The owner of a piece of land is bound to take the water that flows naturally on to it from higher land.

    Water that flows naturally on to lower land and is necessary to such land may be retained by the owner of the higher land only to such extent as is indispensable to his land.

  3. 3 hours ago, hotandsticky said:

    Thank you.

     

    If someone signs a loan (shark)  agreement with an interest rate of, say, 7% per month - would you say that is illegal/enforceable?

     

    Loan sharks don't tend to use paper contracts as usury is illegal in Thailand as a result of the Act Prohibiting the Collection of Interest at an Excessive Rate B.E. 2560 (2017).

     

    A paper contract with a 7 per cent per month interest rate would be all the evidence needed for a prosecution. The maximum punishment is 2 years imprisonment and a 200,000 baht fine. There would also be a good chance of being prosecuted for money laundering which means all available assets would be immediately seized and it would be very, very difficult and costly to get any of them back. Land, houses, vehicles, bank accounts, cash, jewellery, expensive electronics, etc all gone.

     

    Is a usurious interest rate enforceable? Not in a Court, but then loan sharks never aim to be in Court. Their method of enforcement is of a different kind.

     

    Consider, a foreigner loans large sums of money at usurious rates to Thai people. All the borrowers have to do is jointly petition the police and bitterly complain they are being extorted.

     

    Foreigner is arrested, and at the least it is gong to be very expensive to resolve.

     

    In the worst case the borrowers complain publicly to the government, the media get involved and there is now a serious chance of conviction and everything that entails.

     

    Of course none of the borrowers would complain would they, if they thought the loan might be canceled and the lender would be powerless to do anything about it?

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  4. 23 hours ago, hotandsticky said:

     

    I assumed that the maximum legal interest rate applied to all written contracts. If it is more complicated than that then I don't know.

     

     

    I have seen loan debt reduced by the Land Office because the rate charged was significantly higher than the maximum. I cannot recall if that rate was 15 or 18% p.a.

     

    The statutory interest rate is currently 5 per cent, and this could be applied to any contract that does not specify an interest rate.

     

    The maximum interest rate is 15 per cent per annum.

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