Drowning in debt: options for my Thai friend?

[BEVUP]

3 minutes ago, ChouDoufu said:

didn't mean to derail the topic.

point was that the friend needs to negotiate with the bank or dealership.

You didn't really derail it 

People come on asking for advice & experiences, which i give & take on board as well

I knew there was more to the story, as in the advancements (but you got her to pay that back )

There's always a way,it's just a matter of time & it's not like we can do as in come across a good paying job & smash that debt

[ToYoungToRetire]

I have a friend like this. Always spending more than he has, always purchasing items he doesnt need but wants leaving him barely able to pay bills. 

 

I helped him out a few times, with his promise he would pay me back as quickly as possible. He just kept over spending and never had the money to pay me back. 

 

After learning the hard way when he needed money I offered to buy something of his. Something with at least the value of the loan with the offer he could buy it back at anytime within 6 months. After that the item was mine... He doesnt ask to borrow money anymore. 

[mbamber]

Pay as you go if you Can't pay don't go.

Control his spending and pay off his debt is the only answer  only debt I had was a Mortgage and Credit Card Debt but paid off every month (Unless it is Interest free).

[mstevens]

Unfortunately your friend has let this go for quite a long time because these situations don't end up in court overnight.  It takes some time for the situation to get to court and for a judgment to be made.

 

I know this might not help your friend, but the thing to do in a situation like this is to go back to the finance company when you start getting the letters warning that you are behind on payments and to explain that you are unable to meet the current payments and request that the payment schedule be amended so that the loan is paid back over a longer period of time.  Inevitably this will mean the total cost of the loan will increase, but it makes it more manageable.  So where perhaps someone was previously paying, say, 50% of their monthly income in repayments, the new term might see that drop to 25% of their income and be much more manageable.

 

I can but wish your friend the best in getting it resolved.

[meatboy]

having seen quite a few a few go through the hoop where I live,WHY has the finance co.not been and repossessed the vehicle.most of these finance company's don't muck about.

[Jingjock]

Sometime you can not help these type of people, because they can't help themselves, like gamblers, spend thrifts, alcoholics and the like. Hope he finds an answer before something bad happens

[billd766]

22 hours ago, jimn said:

Thai friend? Are you sure. No such thing

 

Rubbish.

 

Perhaps YOU have no Thai friends but I have quite a few including some going back to 1994 when we worked together.

 

Quite a few of my farang friends do also.

[seancbk]

23 hours ago, jimn said:

Thai friend? Are you sure. No such thing

 

Nonsense.

[jimn]

2 hours ago, billd766 said:

 

Rubbish.

 

Perhaps YOU have no Thai friends but I have quite a few including some going back to 1994 when we worked together.

 

Quite a few of my farang friends do also.

I do not have and nor do I wish to have any Thai friends. I do have a few thai girl acquaintances, but I wouldnt call them friends.

[billd766]

54 minutes ago, jimn said:

I do not have and nor do I wish to have any Thai friends. I do have a few thai girl acquaintances, but I wouldn't call them friends.

 

How sad for you, assuming that you live in Thailand.

[altcar bob]

Problem is Thailand is going down the pan at a rate of knots, no jobs,especially good paying jobs,no prospects,If Trump has his way eventually with China,which he will, this place will look like a  backwater,absolutely no money around,all dried up,save for bank loans

[seancbk]

3 hours ago, jimn said:

6 hours ago, billd766 said:

 

Rubbish.

 

Perhaps YOU have no Thai friends but I have quite a few including some going back to 1994 when we worked together.

 

Quite a few of my farang friends do also.

I do not have and nor do I wish to have any Thai friends. I do have a few thai girl acquaintances, but I wouldnt call them friends.

 

I think it's very sad, slightly racist and very blinkered of you not to want any Thai friends.    

 

[jenny2017]

I've just received an e-mail from a friend who wants me to call a Thai guy he'd given a lot of money to buy a pickup.

 

 Now he's trying to get his money back, but he can't speak Thai, so he contacted me. The phone number still exists, but nobody picks the phone up.

  I don't understand why foreigners believe a guy they barely know. 

  Thais can change their names very easily, move to other places and nobody will ever find them. 

[jenny2017]

3 hours ago, billd766 said:

 

How sad for you, assuming that you live in Thailand.

Too many people behind a keyboard in Moscow, Berlin, London and New York, all with a similarity.

They only spent one or two holidays in this country and all of a sudden become specialists about Thailand, Thai girls and more.

[jenny2017]

4 hours ago, jimn said:

I do not have and nor do I wish to have any Thai friends. I do have a few thai girl acquaintances, but I wouldnt call them friends.

If the Thai girls are not friends, what would you call them then? Your prostitutes, or your massage girls? Sorry, but your post doesn't make much sense.

If somebody lives in Thailand, I think it's important to have some Thai friends.

Would I live in India I'd also have Indian friends. 

 

You do not wish to have any Thai friends is a very sad sentence that shows more about the real problem. Thais do not like you, for whatever reason. 

 

[jenny2017]

6 hours ago, seancbk said:

 

Nonsense.

There's no such thing as honestly on an online forum. 

[jenny2017]

1 hour ago, seancbk said:

 

I think it's very sad, slightly racist and very blinkered of you not to want any Thai friends.    

 

I would understand it if he were Turkish and moved to Germany. 

[BTB1977]

Stay as far out of this as possible. He will make you feel like he needs saved just to get money from you. If he wants to kill himself call the police and let them handle it. His family should be helping, not you. If he talks about money problems tell him to talk to his family not you. Not your problem. 

[BEVUP]

12 hours ago, jenny2017 said:

The phone number still exists, but nobody picks the phone up.

I'm amazed the sim card hasn't been changed

They never answer the phone if the don't know the number, or don't want to talk (actually they hang up if they can't talk at that time )

[altcar bob]

10 hours ago, BTB1977 said:

Stay as far out of this as possible. He will make you feel like he needs saved just to get money from you. If he wants to kill himself call the police and let them handle it. His family should be helping, not you. If he talks about money problems tell him to talk to his family not you. Not your problem. 

Yes ,good bet,stay out of it,if he threatens to kill himself,give him a piece of rope.

 

 At times (jokingly ) I ask my Thai GF if she knows anyone wanting to borrow money,eyes lit up,but now knows the sorry truth

[David Walden]

On 4/3/2018 at 2:41 PM, jenny2017 said:

Your friend bought a car on finance and it seems that the finance company wants to have the car back because he can’t pay the monthly installments.

 

 I’m afraid that it’s a hard learning process that you can’t buy more than your salary can pay for.

I don’t know how a lawyer would be helpful, other than being deeper in debt.

 

 

Perhaps the politicians in Thailand can pass a law to try and ban stupidity...sorry.  it happens everywhere.

[scorecard]

On 3/4/2561 at 2:29 PM, ramrod711 said:

Sorry for your friends plight....but it happens everywhere. I think the plan that most people who can't manage money choose is to play the lottery.

 

Is the debtor also a gambler? My Thai son's work colleague(36 yo) is up to his ears in debt and spends 10,000Baht a month on lottery tickets.

 

 

[IsaanFam]

On 4/4/2018 at 4:44 PM, falangjim said:

Live within your means. I earn 4x the salary of the OP's friend, but do not waste $ on carrs, motorbikes, or gadgets I can't afford. I take the bus, have a modest Samsung phone, and don't take luxury holidays in hotels. Enough left over for investing in my family's future each month. Really, the immaturity of hi-so wanna-bes need one message: learn your limits.

Oh, and I've stopped helping these losers who beg me for money. Ever hear of a job? Better education? Help yourself.

Nice and humble but what exactly makes any of us middle class people driving a normal car and motorbike "wannabe hi so" ?!