Debt Reduction Service In Thailand

[Jimjim]

In the U.S. they have debt reduction lawyers for those in serious debt and you can get your debt reduced by a lot.

Do they have the same in Thailand for Thais? I know a friend in severe debt caused by a a former business partner stealing a bunch of money. He can't get out of it at the moment. Just wondered if I could suggest him a good debt reduction service. Anybody know of one?

Anyway, it may get sorted out by other means after a while. They may be able to take away the debt altogether if the lawyer is good.

[GuestHouse]

In the U.S. they have debt reduction lawyers for those in serious debt and you can get your debt reduced by a lot.

In Thailand they make do with gullible Falangs.... Proceed with extreme caution.

[Jimjim]

I'm not gullible. You'll notice I never mentioned I was giving anyone any money. And I'm not going to give anybody any money. I won't be proceeding with caution because I won't be proceeding in this matter. I was merely willing to offer my friend advice even though my friend didn't want my advice as they have no reason to think I could help. So, you're preaching to the choir and your assumption is wrong. This is not a sick buffalo story and I don't see how you could assume that from my post.

I wondered if there was a better financial lawyer then my friend has already, or better yet, a good debt reduction service that I could suggest to my friend. I just don't know if they have lawyers who offer this service in Thailand and are good at or not. That's all. They do have such things in other countries.

Thanks for your advice but it made me think you assume I'm an idiot, which I'm not. I know we've all heard about gullible farangs being led astray, especially by bargirls. I, however am not one of these types of people.

[HenryB]

In the U.S. they have debt reduction lawyers for those in serious debt and you can get your debt reduced by a lot.

Do they have the same in Thailand for Thais? I know a friend in severe debt caused by a a former business partner stealing a bunch of money. He can't get out of it at the moment. Just wondered if I could suggest him a good debt reduction service. Anybody know of one?

Anyway, it may get sorted out by other means after a while. They may be able to take away the debt altogether if the lawyer is good.

Get out of the country now at once no more to think about. Leaving now will save a lot of money

[Prudent_rabbit]

Havent come across it, but have come across the debt collcetors, had to recruit a number of them for a a large finance organisation, they were all "very good" at their jobs, and used legal means to get towards the debt. A lot of times they mentioned they worked with the poor fellow in debt to get heir funds back, but how they did this, I dont really know, good luck

[GuestHouse]

Thanks for your advice but it made me think you assume I'm an idiot, which I'm not. I know we've all heard about gullible farangs being led astray, especially by bargirls. I, however am not one of these types of people.

I nowhere state or intend to give the impression that you are either gullible or an idiot.

However, I'll back up my advice that you ‘proceed with extreme caution’ by adding an observation.

Thais are renowned for their reticence; they are for all sorts of cultural and religious reasons masters of hiding their thoughts and feelings.

If a Thai opens up to anyone (and I mean absolutely anyone) and lets them know of their problems then they do so against all the cultural pressure not to do so. In short they let YOU know about a problem only when they have a very good reason for letting YOU know.

I would add this observation of mine is never more true than when the problem is one of finance.

It is also my observation that Thais are very choosey about exactly who it is they select to be the recipient of their confidence in matters of financial woes.

My advice remains. If a Thai starts telling you they have a financial problem – Beware!

And that is true of any Thai regardless of who they are and from what background.

To believe it only true of bar girls is not so much idiocy as naivety.

Please, take my caution as given in good faith.

[lotus eater]

Thanks for your advice but it made me think you assume I'm an idiot, which I'm not. I know we've all heard about gullible farangs being led astray, especially by bargirls. I, however am not one of these types of people.

I nowhere state or intend to give the impression that you are either gullible or an idiot.

However, I'll back up my advice that you ‘proceed with extreme caution’ by adding an observation.

Thais are renowned for their reticence; they are for all sorts of cultural and religious reasons masters of hiding their thoughts and feelings.

If a Thai opens up to anyone (and I mean absolutely anyone) and lets them know of their problems then they do so against all the cultural pressure not to do so. In short they let YOU know about a problem only when they have a very good reason for letting YOU know.

I would add this observation of mine is never more true than when the problem is one of finance.

It is also my observation that Thais are very choosey about exactly who it is they select to be the recipient of their confidence in matters of financial woes.

My advice remains. If a Thai starts telling you they have a financial problem – Beware!

And that is true of any Thai regardless of who they are and from what background.

To believe it only true of bar girls is not so much idiocy as naivety.

Please, take my caution as given in good faith.

guesthouse,

i have found your observations in this and other threads as generally worth reading and reflecting wise perceptions about the thai experience of farangs. but why do you take as a given that it is wrong to help out with the financial problems of a thai partner when the same is ok - and happens all the time - farang partners. and do bear in mind that false pretenses are not unknown among farangs too. why shouldn't the same criteria of caution, judgement, relationship, etc be applied equally in both cases?

lotus

[GuestHouse]

but why do you take as a given that it is wrong to help out with the financial problems of a Thai partner when the same is ok - and happens all the time - farang partners. and do bear in mind that false pretenses are not unknown among farangs too. why shouldn't the same criteria of caution, judgment, relationship, etc be applied equally in both cases?

I would advise exactly the same caution in dealing with a Farang who has financial problems, since a Farang who is asking for financial assistance from a friend is probably in the same boat as the Thai doing likewise. Unable to get help from a bank.

But please don't take it that I am saying don't help out if that is what you want to do.

It could not be better said than in that quintessential Thai way - Up2U

Rather, be aware that if a Thai lets you hear of his/her financial problems they are doing so for a reason.

[Jimjim]

but why do you take as a given that it is wrong to help out with the financial problems of a Thai partner when the same is ok - and happens all the time - farang partners. and do bear in mind that false pretenses are not unknown among farangs too. why shouldn't the same criteria of caution, judgment, relationship, etc be applied equally in both cases?

I would advise exactly the same caution in dealing with a Farang who has financial problems, since a Farang who is asking for financial assistance from a friend is probably in the same boat as the Thai doing likewise. Unable to get help from a bank.

But please don't take it that I am saying don't help out if that is what you want to do.

It could not be better said than in that quintessential Thai way - Up2U

Rather, be aware that if a Thai lets you hear of his/her financial problems they are doing so for a reason.

Because you don't know the situation, I disagree with your premise that they are doing it for a reason (in this situation). But I'm sure you have good reasons for saying what you say, and from what I've experienced of Thai culture, I would definitely agree with you in general. For sure. But not in this situation. It's unique.

No assistance was asked of me and none is expected.

Also, in general, Thais are not shy about finances in one sense. They freely ask of others and like to tell their own amounts of salaries. Well, especially if they're rich they like to let you know, subtly or not. However, in the U.S., this is quite taboo and rude. I don't know about financial problems, however. In Thailand and my country, I would think it's quite similair in that people don't like to share a lot about their own financial problems.

[mr_hippo]

In the U.S. they have debt reduction lawyers for those in serious debt and you can get your debt reduced by a lot.

Do they have the same in Thailand for Thais? I know a friend in severe debt caused by a a former business partner stealing a bunch of money. He can't get out of it at the moment. Just wondered if I could suggest him a good debt reduction service. Anybody know of one?

Anyway, it may get sorted out by other means after a while. They may be able to take away the debt altogether if the lawyer is good.

Are you talking about debt consolidation? If you are then the debt does not only increase but goes on for longer

[steveromagnino]

There are options to declare bankrupcy and start over with bank debt; however there are also grey market/black market solutions to get additional credit and some of these will be 'non-escapable' meaning they are owed no matter what; as the recent suicide of K. Boonchai indicated.

The highest interest rates are around 50% for the legal ones, and far beyond that for the illegal money lending.

Pawn shops are another option for finance.

This idea of debt consolidation is the biggest crock, and I am a sort of banker. Exchanging short term unsecured debt for longer term unsecured debt at about the same interest rate; sometimes a fraction lower, but mostly still interest rates in the teens. This is available via personal loans from people like Citibank, and invariably used by people with maxed out credit cards; they get the personal loan, pay off the card, then max out the card again.

Same as the rest of the world, some people cannot control their spending, and some can. If your friend is merely suffering a short term 'squeeze' then suggest he persues the personal loan option, or gets multiple credit cards; presumably he will shortly have the money to pay that all off.

I'm Thai and I have almost no idea of anyone's finances in the vicinity around me, even very very close friends. THe ONLY times people share that sort of info is typically:

- what should I buy, I got a big bonus (but not to state how much they earn)

- I just won some money in the lottery

- I didn't get a bonus :-(

- I just had some money stolen

Other than that, every other time has been someone wanting to borrow. Screw that. That's what banks and pawn brokers and the like are for. The only people who have borrowed money here are all non Thai and ALL of them owe me the money they borrowed. Still. Deadbeats. But at least they had no choice, I am not a man with a heart of stone; although I do have rock hard abs, and a butt that just won't quit.