thaitot

First Thanks to everyone for the replies. Yesterday was Christmas so I was not near my computer.

I think i owe some respondents some answers to their questions.

We have been away on vacation getting some sun for the last week and will not be back home until

about the First. 

With regards to the brother in law asking me for money. I do not speak Thai fluently so he is asking

my wife for money, she will not ask me for money as she has her own.

There is no chance she Guaranteed the loan we moved to the usa about 11 years ago and 2 years ago

was the first time that we went back to Thailand the truck was purchased before we went back.

If documents were to have been sent to her I would know about it , I am confident in that statement. 

I handle all the finances both hers and mine.  

This thread has helped me understand a little more about the truck financing as people have posted

real life experiences that was my hope. 

I really do not want to dig into the contract thing to much get a copy translate ect. I just want to know how much his monthly payment is how much he is behind and how much he owes and the length of the contract. If it is way out all I can do is express to my wife the truck is going to be lost and we are just extending that period out another 4 months with money lost.

I am going to force my wife to have a conversation with him so he is on notice that the next time it will not be as easy.

 Do I think this will be the last, no. She would just simply send the money.

My wife is a little different than some. She has about 25 friends that live in the same city as us,

almost everyone goes back to Thailand every year again 2 years ago was  the last time we have been back in 11 years. My plan was to buy a condo and do the winters in Thailand , but I follow Thai visa pretty close and every day that goes by I realize that is just a bad plan for lots of reasons.

My wife could care less if she ever goes back to Thailand.

So I will dig into this a little more when we get back home and be sure that the brother in law realizes 

that asking for a loan will not just be as easy as picking up the phone and making a call. . Ok again I know it is not a loan even in the usa I realize if people are borrowing money and you are providing it there is about a 1% chance it will ever come back I do not loan money to any of my friends that is what banks are for plus it ruins friendships.   

We have a bank account in Thailand with little to no money in it maybe 10k I have tried to keep it open 

so when we arrive in Thailand we do not need to walk around with allot of cash, they constantly want to close it so we add 500 baht every so often.

He told her he would pay her back 5k per month until it is payed off. I will see if I can get the online portion working so I can see the account. It is not quite as easy doing it from abroad.

Do i think the payment will be deposited, not a chance in hell. If he can not make the truck payment he will never be able to make that payment plus the 5k. Only thing I can hope for is I can convince my wife that the next time

he asks for a loan is he never paid back the first one.

We do not mind helping her family but I feel Thais are like children if they have no boundaries they know no limits.

Thanks again to all that have taken the time to read and reply to my post.

My wife and I keep separate bank accounts. She shares the bills for the most part and has a good savings so it is not my money that will be lost. If my family needed money I would help them but they have no financial issues.

i would not ask her permission to send money to them. I was just trying to gather some info on how these thai loans are possible with no credit so no accountability. All I can do is try and guide her to help keep the monetary losses to a minimum, that was my goal

No there wold be no guarantor. For sure not my wife. 

Thanks again for the replies. Happy holidays

justahce That was my thought. When I was living in Thailand 11 years ago a used truck was almost the same as a new one but I have also have heard there are lots of used trucks available because of this exact situation 

Robblok That is pretty much what I thought. i am going to tell my wife to ask how much is owed. And that he needs to return the truck. 

Him and his wife both have jobs they are not farmers or high earners they are asking her for a loan but I know how that works I think the truck was just not thought out

Ok Thanks I have a pretty good idea. I really need to know how much he owes. If it is a small amount .

or a massive amount. I just got the they will not take it back  

Ok Thanks everyone I understand the 50 leads to 100 100 to 200 again I was just trying to understand the loan thing. on how you get a truck with no credit.

Jastheace that is exactly what i am trying to eliminate. We have been together for 11 years and really have done well with her family and money. I would help my family to the bitter end so I can not really take a difference stance. She has her own money and is not asking me to help i am just trying to keep  everything in check so she does not get taken advantage of

No bwpage3 if it was 50k payoff that would be one thing I think it is 50k to get caught up on payments.

I 

Ok my question was more of the nuts and bolts of how these loans work and accountability.

How to handle any Thai family is a work in progress so thanks on that front.

I understand it is not a loan money always only goes one way Just trying to mitigate the damage to myself and my wife

Thanks Don That is the way I thought it would work. Anyone with some direct experience with this situation.

It would seem like the loan company would take the truck back and still hold him accountable for the balance less value of the truck. I am not sure how you can sell a truck you do not own. 

Ezzra I completely understand the Thai way, again I did not just Mary a bar girl yesterday and am just now being told I will be building a new house in Issan. I am just trying to understand is this like a loan shark situation where they just put so much pressure on you that you will find the money. I guess what are they holding over his head to force him to pay.  

Looking for some who has some experience with this situation.

i am married to a Thai lady. We have been married for 11 years we live in the USA. 

We visit Thailand every 2 years. last time we were there her brother who is about 30

showed up with a very nice truck. I am not 100 percent sure it was new but it was pretty close 

if not. This brings me to today. He is asking to borrow money to pay on this truck as he is behind.

We have the means to help but just throwing money at this may not be the best Idea in my opinion.

Some time back he said it was taking all his money just to keep this truck, I knew when we visited 

this was way to much truck for a person of his means.

Evidently credit worthiness has nothing to do with a truck loan in Thailand.

We told him to take the truck back and take his licks. In the USA that would mean your credit is trashed

and you may get your wages tapped. He said he can not return the truck.

I know there may be many variables but I understand there are allot of poor rice farmers

that a few years back were driving fancy trucks they never were going to be able to afford. 

So how can he get out of this loan, return the truck.

My fear is this is not going to end anytime soon. He has had the truck for at least 2 years.

We are not going provide financial payments to him to continue driving a truck he never should have gotten.

Any advice would be greatly appreciated.

He asked for too much. Vern's reputation and potential earnings would have never reached a million dollar bench mark. The jury saw this as a money grab. Sorry this is why everything costs more because of greedy lawyers.  Trying to recover 190 million from an insult was just not realistic and people see thru this. 

I would say this is plan b but we are way beyond that one.

Get ready for Bloomberg or Michelle to throw their hat in.

My guess is a real test would reveal China products full of chemicals this comes on the heals of the usa chemical ban

Speaking for myself, my thai wife and I have saved to buy a condo and now have the funds waiting. She sees the ruling thai party as to corrupt to even really want to return to live in Thailand. She has been out of Thailand for 11 years and really has little desire to return to live. I am getting close to retirement , my plan was to retire in Thailand but I am now leaning towards just a winter stay of maybe 4 months so the condo purchase is looking like what I have been told a bad idea to a terrible idea. With the change of visa rules that has also slowed my decision. The exchange rate very little. 

Lots of Americans are now going to Vietnam, just my observation base on my circle of friends.

This is typical you really need to close all the loop holes when you negotiate with these guys. Oh sorry I told you 500 baht each or 500 baht each plus motorway or 500 baht plus luggage an additional 100 baht.

I wish Canada all the best.  With that said polls in this age mean nothing and are skewed as election results have proved.

There are no indicators that point towards a declining empire. There are help wanted signs on most businesses and most of my friends are all working overtime our economy is booming. I have a home 75 miles from the Canadian border

and I can tell you the Canadians I talk to are not at all Justin fans. Earlier there was a comment that Us citizens do not give Canada much thought they are correct. Canada will not win a trade war with the USA.

This will all settle and be worked out.