This is an interesting report and analysis but excludes consumer debts.

https://www.schroders.com/en/insights/economics/20-years-on-could-the-asian-financial-crisis-be-repeated/

And here something that covers the personal debt topic

https://asia.nikkei.com/Opinion/Beware-the-next-Asian-debt-crisis

2 hours ago, Jeremy50 said:

No need to show your ignorance as well your unsettling comments about a 17year old. Soi 3 has no brothels on it, they were all closed down 4 years ago, just private houses now. 

Touched a raw nerve ?

From this report:

https://www.forbes.com/sites/jessecolombo/2013/11/04/thailands-bubble-economy-is-heading-for-a-1997-style-crash/#74e8799a1d9b

Bank of Thailand recently (2013) published a report that showed that the debt-service ratio (DSR) of indebted Thai households has increased from 30 percent in 2011 to 34 percent in 2013. To make matters worse, indebted Thai households that earn less than 10,000 baht per month are burdened by a debt-service ratio that is nearly twice as high at 62 percent. Bank of Canada estimates that debt-service ratios above 40 percent place households in financial jeopardy. Thai households’ high debt loads will limit future consumer spending and economic growth.

20 hours ago, webfact said:

 

"Business is bad and it's very tough when you have debt,"

Who would have believed it?? many think you can borrow  and not  pay back, they really all do  live in a little  world of their own.

19 hours ago, Samui Bodoh said:

has to wonder how the poor (especially) will be able to pay it off

They don't they just run away around the country from any debt  picking up any work they can, Wife's Brother is a prime example, will borrow  from neighbours wherever he is  living then after a period of  time   will just  run away to another province without paying  them back.

18 hours ago, faraday said:

You surely mean 'People Everywhere' & not only Thailand?

 

 

You surely mean "irresponsible people everywhere" and there are plenty of them out there.

16 hours ago, onlycw said:

Mmm, who says that JMT will keep closing delinquent accounts and keeping up making money? What if they cannot? Then they will have bad debt on their books...

 

That borrower who hasn't paid her 15 k mortgage in 3 months: Lady, you have got your priorities wrong! As a business owner, I recall eating Rahmen noodle soup for weeks when times were tough.

 

Sell the car, get a motorcycle. Eat street food, buy bananas. Go get the AIS "Marathon" plan for your cell phone. Ditch the Iphone. Cancel Netflix, rely on Youtube. Get an antenna and strike a deal with a neighbor for sharing the wifi... Act!

 

I know a struggling builder. His 17 y.o. daughter was visiting Udon Thani and had to return to Bangkok. What did he do?

 

A: he took the big truck and drove her. Wasting, I reckon, 8 grand.

 

There was an excellent VIP service. She could sleep, be more comfortable. Give her 200 THB and a bus ticket and 800 THB would have seen her home. While he would be knackered. ** I see relatives with Ipad, new 50 k washing machines (why not get some SAMSUNG for like 10 k?). Then they bought a new Mazda for the daughter. 3 years later, it has lost 500 k in value. (In Bangkok, the daughter could use public transport but hey...)

 

A friend has been "hiding" the truck a finance company wants to reposess. This may affect his job as collections mount and desperation sets in. His commute has been 50 km return. Hey, get a room by the factory. Ride a motorcycle. Eat street food. You don't want that big Isuzu D-Max... There is life without a vehicle. Families make do with 1 or 2 motorcycles... Not paying the mortgage for months shows terrible judgment, JMHO.

The real truth for many Thais.

30,000 baht a month?  ?that's about enough money to purchase a couple mama noodle packs each day and ride around on a used bicycle.  instead, they go out and buy a brand new toyota hilux.

6 hours ago, Cake Monster said:

People all over the Globe borrow money for all kinds of reasons.

However, to borrow 40,000 Baht just to throw a party for your Daughters engagement, thats just insane, and these kind of things are rampant in Thai Society.

And this is after they have not only bought the car, but have spent money they dont have on " filming " the entire glass of the car, a full set of Alloy wheels and a full set of low profile boots for the thing, and then they spend on the sound system, an some go faster stripes or such.

All on the money they borrowed.

Then promptly drive it  into a  ditch  looking at their  financed phone!

18 hours ago, MrLuckyThailand said:

That people who borrows money must make a plan for beeing able to pay back the loan, that must come as an alien concept to these people.

 

Sometimes, I ask my wife if the phrase like "having a plan" exists in thai language. She just look at me and smile. The answer: "You know how it is, darling"

 

Business is bad though.  I guess it's understandable for retirees freed from the daily struggle not to be aware of this.  It's as if we revert back to the moral standards of our formative years, and prevailing market conditions are frozen on the day of retirement.

 

It's not always a good idea to clamp down on the black/grey market either.

14 minutes ago, james1995 said:

30,000 baht a month?  ?that's about enough money to purchase a couple mama noodle packs each day and ride around on a used bicycle.  instead, they go out and buy a brand new toyota hilux.

Alternatively, 30,000 baht a month is enough for most rural Thai (or farang) couples to live reasonably for a month, given they have no loan payments.

With money printed out of thin air, ending up in the hands of financial institutions at record low rates and then 'sold at profit' to gullible people to buy depreciating assets or consumer goods, is indeed a modern variation on slavery. 

Let 'em default, more room on the roads after their chariots have been repo'd.

Same story with someone i know, has to pay the bank 12,000/month for her house and 4000/month for her car. She keeps the car at a friend's to avoid repossession.

 

Relies on business for income and frequently goes on about business being bad and no one spending any money

I have a Thai Friend who’s paid 300 baht a day working at a shop of a major international food seller , got salary of 10k yesterday! Everyday the manager of the shop banks between 75-100k ! Until these big companies are forced to pay more than this pathetic minimum wage the debt/poverty levels will continue !

 

 

Sent from my iPhone using Thaivisa Connect

 

Education, of adults and children, as it stands, will be the downfall of this society. 

One cannot apply Victorian heirarchial thinking to a 21st century state trying to hold it's own among ambitious neighbours, and expect any long term success. 

There will have to be seismic and ucomfortable changes if Thailand is to remain competitive,  otherwise her people will be mostly maids and gardeners to the Vietnamese, Chinese, and Malays. Because even agriculture is floundering now, thanks to the serf mentality, robber baron pricing of raw commodities,  and unmechanized farms.  

 

 

2 hours ago, Small Joke said:

Education, of adults and children, as it stands, will be the downfall of this society. 

One cannot apply Victorian heirarchial thinking to a 21st century state trying to hold it's own among ambitious neighbours, and expect any long term success. 

There will have to be seismic and ucomfortable changes if Thailand is to remain competitive,  otherwise her people will be mostly maids and gardeners to the Vietnamese, Chinese, and Malays. Because even agriculture is floundering now, thanks to the serf mentality, robber baron pricing of raw commodities,  and unmechanized farms.  

 

 

That could easily change with the ideals of living one's protest.

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