No pity for fools borrowing beyond their means.

34 minutes ago, connda said:

Someone explain to me how people making 15K to 20K THB and month can afford vehicles that cost 650K to 1M THB.  But look at the number of those monsters that are on the road.  That's all debt driven consumerism based on predatory lending.

 

Part of the answer (but not logical) is that they would lose face if they didn't have a nice car, hopefully a brand name which has better image to help build personal status and of course new / close to new.

 

I'm aware of one male teacher about 30 years old, he bought a new car, expensive (but not BM/Benz level) about 3 years ago.

 

He now doesn't use that car because he thinks it's too old and if he's seen using it his status will be strongly diminished. So he takes taxis everywhere (he's located in Bkk).

 

But he still has many years of payments to make to clear the loan for the car he now doesn't use. 

 

Meanwhile his kids don't get the nutrition they should have because there's no money available.

 

 

 

Edited July 17, 20187 yr by scorecard

A lot of blame for teachers here, and possibly rightly so. I don't know enough about teacher salaries, but what kind of salary are they on?

 

I think teachers should not be paid an amount that means they are only surviving. It is supposed to be a professional and responsible job and they should be paid enough that they can live and have some money left over for saving, spending as they like.

My Thai sister in law is a teacher at a Govt school and it is incredible how many of her colleagues are in serious debt.

The ease at which they obtain these loans is amazing but then again nearly all of then have new cars, the latest iPad and iPhone so it must be worth it......just a shame when the time comes to pay up I guess.

No responsibility-will it ever change?

My Thai sister in law is a teacher at a Govt school and it is incredible how many of her colleagues are in serious debt.

The ease at which they obtain these loans is amazing but then again nearly all of then have new cars, the latest iPad and iPhone so it must be worth it......just a shame when the time comes to pay up I guess.

I have heard of stories that even teachers that cannot Drive, buy new cars just so they can sit in the forecourt of the houses (that they also cannot afford).

 

 

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5 hours ago, webfact said:

Teacher Auychai Watha said for the past seven years he had paid a monthly instalment of over Bt7,000 to repay the Bt1.2 million he had borrowed. Though the capital amount owed had been reduced by Bt100,000, it left him still owing Bt1.1 million.

Seems about right. If the interest is 6%, interest payment will be 72.000 baht a year. He is only paying 84,000 baht a year. So he pays off about 12,000 a year of the original debt each year for 7 years, a total of 84.000 (As the loan slowly reduces, actually slightly more, but under 100,000 paid off for sure). As said, stupid to borrow that much and expect it to magically disappear in a few years.  Banks also to blame, they should TELL a borrower how long it would take to pay off, and not give him a long term loan if it would take him past 65 years old. It is disturbing that such short sighted people are teaching kids .

Teachers go to the GSB for a cheap loan on a reduced interest payment plan so they can ride around in a "red plate" car to show the world how good they are,& and then cry when they can't pay it back!!

They walk around like uniformed gods looking down on ordinary people, while they play the Hi-so status game

not forgetting teachers pay less income tax than other mere mortals so they get to keep more of their salary

and still complain !!!!

If you can afford to repay the 6% interest rate you wouldn't actually need the loan anyway. You would likely pay it in full to save yourself money. The banks lend money to people who can't afford their ridiculous repayment schemes. I feel sorry for the teachers as this will no doubt be impacting their lives significantly while the bank owners count their billions made from mostly poor people.

Teachers raise this every 5/10 years. No self control, appalling greed, and a dreadful example to their pupils.

5 hours ago, stanleycoin said:

Typical Thai behaviour.

Not wanting to take responsibility for there actions. 

 

These are school teachers !!!!!!!!!!!!!!!!!!!!!

The Thai education system in its full glory. 

Kids have no chance, with roll models like this. 

Their actions

Role models

I could not resist it given the criticism of Thai education.

 

6 hours ago, stanleycoin said:

Typical Thai behaviour.

Not wanting to take responsibility for there actions. 

 

These are school teachers !!!!!!!!!!!!!!!!!!!!!

The Thai education system in its full glory. 

Kids have no chance, with roll models like this. 

The kids (students) learn fast:

 

http://englishnews.thaipbs.or.th/60000-student-loan-recipients-government-service-warned-may-lose-jobs/

And they are teaching the children ?  If you cannot afford don't  buy !

4 hours ago, baboon said:

But, but how can any human being possibly survive without this year's phone and a vehicle that could transport a battalion of marines across the Mekong Delta? 

The " just emerged from the Mekong Delta look" can be achieved quite economically in fact.

1. Purchase a 20 odd year old Mazda Pick Up. (the ones with the Isuzu 2500cc engine - virtually indestructible).

 

2. Let the brother in law borrow it for the farm - this will produce various minor inexplicable dents.

 

3. Live 300 metres down a dirt track in the rainy season.

 

4. That only leaves the interior - take your 13 year old daughter to school/singing lessons/guitar lessons every day. This will ensure an authentic battle stressed appearance!

 

It seems the teachers are walking in the footsteps of many of Thailand's farmers, making stupid financial decisions and then blaming everyone but themselves, staging protests to get someone else to clean up their mess.

7 hours ago, Nigeone said:

Is this not just about living beyond your means ?? Seems like it . Borrowing money and being unable to repay the interest . We've all been there's in the west ,or most have and know well the problems it brings .

There is no welfare system here and inadequate health services for the lower paid. Yes we have, and have debt problems in the West. So we cannot preach to Thais. What is the National Debt of the USA? What does quantative easing mean? Desperate people get in debt not just for personal reasons but because national wealth is not distributed fairly. Soldiers with 12 watches and youths who kill with sports cars seemingly have no debts.

4 hours ago, smutcakes said:

A lot of blame for teachers here, and possibly rightly so. I don't know enough about teacher salaries, but what kind of salary are they on?

 

I think teachers should not be paid an amount that means they are only surviving. It is supposed to be a professional and responsible job and they should be paid enough that they can live and have some money left over for saving, spending as they like.

They don't get paid enough to live on in many cases. 

3 hours ago, edwinchester said:

My Thai sister in law is a teacher at a Govt school and it is incredible how many of her colleagues are in serious debt.

The ease at which they obtain these loans is amazing but then again nearly all of then have new cars, the latest iPad and iPhone so it must be worth it......just a shame when the time comes to pay up I guess.

'The ease at which they obtain these loans is amazing but then again nearly all of then have new cars, the latest iPad and iPhone so it must be worth it......'

 

Sounds like one of those narratives that we need to believe.

28 minutes ago, mommysboy said:

'The ease at which they obtain these loans is amazing but then again nearly all of then have new cars, the latest iPad and iPhone so it must be worth it......'

 

Sounds like one of those narratives that we need to believe.

Then don't believe it, its a fact that government employees (teachers) get loans real easy, easier than normal non government workers. That is something you can check. Be my guest.

 

If you followed history a bit you would have seen that teachers have had their loans refinanced quite a few times by the government. This is not the first article about teachers.

Edited July 17, 20187 yr by robblok

Selling the new Revo parked outside the tin hut might help.

35 minutes ago, DrTuner said:

Selling the new Revo parked outside the tin hut might help.

You couldn't of put it any better.my neighbors got parked out side her tin hut.two Honda jazz and a spanking new Mazda bt50. All in white with black windows.shes a teacher and must of took out3 loans for the family.

51 minutes ago, robblok said:

If you followed history a bit you would have seen that teachers have had their loans refinanced quite a few times by the government.

Yes, but there's a new sheriff in town.

The big problem here is that monetary education along with most things in the education system is non existent therefore the reality is 1and 1 make 3, 5 and 5 make 9, 10 and 10 make 18 so most of them think that if they pay 10,000 per month on a car loan out a monthly salary of 10,000, well that’s ok init !!!

4 hours ago, fantom said:

Their actions

Role models

I could not resist it given the criticism of Thai education.

 

That's ok, i had no idea it was a spelling or gammar test on tv.

But then again,  i'm not masquerading as a teacher. 

or acting as a role model for children in a working environment  

 

Edited July 17, 20187 yr by stanleycoin

8 hours ago, upu2 said:

Possibly they are but what are the salaries they receive? I dont know so I am asking. Is it sufficient to provide someone with the essentials i.e. food, clothes, shelter etc. do they get paid on time or are payments quite often late? If not then they have justification for complaining

Bog standard teachers appear to get 25k/month + health benefits + pension + cheap loans + whatever they can scam out of their pupils.

In other words, more than 90% of the Thai population get.

52 minutes ago, BritManToo said:

Bog standard teachers appear to get 25k/month + health benefits + pension + cheap loans + whatever they can scam out of their pupils.

In other words, more than 90% of the Thai population get.

In that case there is no excuse

If you are too stupid to manage your own personal finances, how in the world can you expect to educate children? 

 

Now you know why Thailand education is a joke.

3 minutes ago, bwpage3 said:

If you are too stupid to manage your own personal finances, how in the world can you expect to educate children? 

 

Now you know why Thailand education is a joke.

Thinking about it just how many people from all of our home countries can handle their money in a good way? Not many for sure

Why do teachers always seem to think that they are a special case?  Surely, it is each person's responsibility to manage their own financial affairs in such a way as NOT to get into major debt and this means NOT entering into loan deals which, clearly, they cannot afford. Many people earning considerably less than the teachers have to manage somehow, but at least those poorer individuals and families have a more valid excuse.  Any special treatment by the Government, through more relaxed lending conditions for teachers, merely encourages the situation to continue and possibly get worse. 

15 minutes ago, Retiredandhappyhere said:

Why do teachers always seem to think that they are a special case?

The good old Thai cast system, teachers are a micrometer above the common peasant.