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Lending money to anyone in Thailand is a bad idea


ghworker2010

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I also think that you should not lend anybody money... unless it's a good friend where you know 100% that you will get it back, but also then not more than you are willing to lose.

A while ago a friend of my GF asked my GF to borrow 5000THB, i told her to not do it, but she didn't want to listen, so she did it.

What she didn't tell me at first... her friend pays her 500THB interest per month until the credit is payed back in full. So more than 10% interest per month. In the last few months the friend payed her, let's see if it will continue until it's payed off. But with such an interest rate you probably make money even if sometimes people default the loan.

Edited by jackdd
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Does remind me of that old story doing the rounds years back.........

A rolls pulls into a lay-by and the driver opens a basket of food, a Tramp shuffles up to his window & taps on it.

Push of the button & electric  window glides down...

 

Tramp--S'cus me Gov you couldn't spare a  shilling for a cup of Tea.

My Good man..."Neither a lender or a borrower be" William Shakespeare

-The window glides back up.

 

After a minute another tap...down glides the window

Tramp---  <deleted>  ......  D.H Lawrence

 

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3 hours ago, RichardColeman said:

I'm always lending money to the Thai wife;s sister or Thai brother in law, but as they pay back within a week  with all bank charges I feel OK about it. I think they know that if they screw up, their credit line ends - for good. 

Yes I am the same, never had a problem. Lent money to the DIL to buy a motorbike. The money came back as soon as she had it. If you are any judge of character you know who to lend to.

I am still waiting on $10000 from a mate at home from 1999 though. Has never attempted to repay it.

 

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My GF sometimes asks to "borrow" 500 baht. We look at each other and both laugh, because we  know the end result.

I've loaned small amounts to several people at the condo, most of whom repaid. The only one that didn't knows better than to ask again.

I don't trust anyone sufficiently to loan large amounts of money. As another poster has said, it ruins friendships.

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What do they say in Thailand don't lend your friends money or you loose your friend and your money.

 

I lent a ex GF(Filipino not Thai) 3500THB a while back because she got drunk and gambled her wages away and couldn't pay her rent. I was short of cash at the time and couldn't really afford it bit after her begging I finally gave in she promised me a month later. It took me 6 months to get it back with so much shouting at her down the phone and threatening her with all types of things apart from violence there was no way I was letting her getaway with it even if it was only 3500THB. In the end I got it back and we was back on talking terms a few months later she was in hospital and couldn't pay her bill nope sorry no way Darling I don't care if they send you to prison.

 

Sent from my SM-G900F using Tapatalk

 

 

 

 

 

 

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I lent 3k to a neighbour for medication for a very obvious condition, never expecting it to be paid back, and hoping never to be asked again. Friends then told us he owed money all over? He paid it back and asked for 5k the next time, it became apparent this chap was quite smart, building up to a considerable sum somewhere in the future, so said no, he doesn't even acknowledge us in the street now. 

Edited by Tofer
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