wife's daughter credit card debt

[crankshaft]

What about declaring bankruptcy?....would this wipe out all debts?

[dotpoom]

Just read the first few replies...great advice on how to "steal" money. What ever happened to the principle .."If you borrow money you must pay it back"..are we now teaching our children the opposite...The world has certainly changed, and not for the better. 

PS.  ..and "Karma" seems to have become a non-issue.

[Cricky]

5 hours ago, steve2112 said:

My wife is saying that used to be true about forgetting the loan, but now they come after you forever

 

maybe i need to talk to a lawyer

 

Your wife will tell you anything as long as you are paying the money.

[Cricky]

54 minutes ago, Chassa said:

2 hours ago, Vacuum said:

Perhaps, but I'm an honest guy. If I borrow something, I'll give it back. Mind you, I don't have credit cards and never had any.

Cash is king.

you can't do a lot without a credit card these days. 

 

Enjoy your boring life.

[Jimbo1964]

As you said you wifes daughter. So you who nothing and in reality neither does your wife.

 

Its her daughters debt and she is the only one liable. So don't go there. Old enough to get into debt old enough to sort it out.

 

Do not bail her out otherwise it will reoccur and you will be expected to always bail her out! 

[Small Joke]

A brother of a mate in Australia was a pretty brazen git.

He had the Porche, the sharp suits, the patter, a real wide-boy.

Anyway, being all talk and no walk his biz went tata's up.

He ran away to Dubai, and declared bankruptcy in Australia, then he just negotiated some ridiculously low pennies in the dollar penalty, and basically got away with the whole thing.

Institutions rely on us being meek and honest, mostly, they cant do much, since there are loopholes to protect those in big business and those rules can also be gamed by those with brass balls, while the mugs get clobbered.

Mostly because they go along with, or get freaked out, by empty threats.

[johng]

7 minutes ago, VYCM said:

you can't do a lot without a credit card these days. 

 

 

Get a debit card it can do everything a credit card can  except spend money you don't have.

[Cricky]

1 minute ago, johng said:

Get a debit card it can do everything a credit card can  except spend money you don't have.

Why would i pay for a debit card?

 

I get my credit card for free and earn points of value.

[amse]

It's 7 years in the states, then you have a clean slate, when the credit card applications come flying in again! 

[MadMuhammad]

21 minutes ago, johng said:

Get a debit card it can do everything a credit card can  except spend money you don't have.

Personally I pay my outstanding balance every month so it is money I most definitely have. 

 

One of the cards I have gives me a $400aud travel credit for flights, car hire, hotels (which negates its $400 annual fee), I get complimentary membership to Priority Pass lounges worldwide and for each $ I spend I get a mile toward my choice of frequent flyer programs. 

Just 3 of the many benefits I get with my card, something I most definitely wouldn’t get from a debit card 

[catman20]

4 hours ago, Vacuum said:

Using a credit card (borrow money) and then not pay back, is in my book same as stealing.

id cut their hand off.

[Pedrogaz]

6 hours ago, BritManToo said:

Best to ignore the whole thing, after 5 years the debt gets written off.

Don't get involved it's not your business and it will cost you money. I'm assuming your wife is asking you for money to pay it off.

This isn't correct. They came after my wife after about 20 years. She had no assets and couldn't own anything during the extensive court adjudication. She worked on Japan and sent money back to pay for properties with mortgages here in Thailand. The family stole the money, didn't;t pay the mortgages and the properties were seized. The bank came after her for a huge sum of money as she took the mortgages out in 1992 at 20% interest.....the bank claimed the difference between what was owed and what was recovered through the sale of the properties. The properties were in fact flogged off to mates of the bankers for cents on the dollar. 

In any even they tracked her to Japan and served a writ. She ignored the writ but they confiscated her passport when she returned to Thailand and she had to go to court. It took 4 years before she was able to travel without the judge's permission. 

[richard_smith237]

39 minutes ago, johng said:

Get a debit card it can do everything a credit card can  except spend money you don't have.

 

Wrong.... There are purchases which cannot be made by Debit Card while a Credit Card is accepted....  'some' airlines will not accept debit cards, there are 'other' online transactions which are rejected when attempting to use a Debit card and strangely accepted when using a Credit Card. 

 

In disagreement with the above you will ask me to list examples:

- Charging the change fees to a Debit card when changing an Emirates Ticket over the phone would not work until a credit card was used. 

- When checking into a hotel

 

As far as spending money you don't have, use a little discipline, pay off the card in full each month. 

 

Credit cards do more than debit cards: In some cases much more. 

 

- My Wife son and I fly to Japan each year on the points accrued with our Credit Card...

- We get free road side recovery 2x per year (I had to use it about 8 years ago)

- We get free TG lounge access 2x per year (when flying with TG)

 

 

Of course, no one 'needs' a credit card and there are alternatives - but using a credit card makes life much more convenient and the perks are handy. 

[suzannegoh]

7 minutes ago, Pedrogaz said:

This isn't correct. They came after my wife after about 20 years. She had no assets and couldn't own anything during the extensive court adjudication. She worked on Japan and sent money back to pay for properties with mortgages here in Thailand. The family stole the money, didn't;t pay the mortgages and the properties were seized. The bank came after her for a huge sum of money as she took the mortgages out in 1992 at 20% interest.....the bank claimed the difference between what was owed and what was recovered through the sale of the properties. The properties were in fact flogged off to mates of the bankers for cents on the dollar. 

In any even they tracked her to Japan and served a writ. She ignored the writ but they confiscated her passport when she returned to Thailand and she had to go to court. It took 4 years before she was able to travel without the judge's permission. 

So you're saying that the bank waited 20 years after she defaulted on her mortgages to foreclose on the properties?  That sounds strange, one would think that the bank would foreclose right away, but it also sounds like a different situation than with unsecured credit card debt. 

[ronaldo0]

Were these store type cards ? My wife eventually got a credit card with her bank but to me it’s more like a debit card . She paid 20,000bht to get a card with 20,000bht limit. If she uses it they ask her to pay thousands back at once and charge her for using it  . Yet the money in it is hers !!

[NoshowJones]

5 hours ago, Vacuum said:

Using a credit card (borrow money) and then not pay back, is in my book same as stealing.

Yes, but the banks steal from us, so what's for the goose is for the gander.????

[NoshowJones]

1 hour ago, amse said:

It's 7 years in the states, then you have a clean slate, when the credit card applications come flying in again! 

6 years in the UK. I know from experience.

[Media1]

LOL who let her rack up 200k. You should contact them in her behalf. And organise a affordable payment plan. It's safe to say nobody is giving her a loan lol. 

 

[johng]

 
Wrong.... There are purchases which cannot be made by Debit Card while a Credit Card is accepted....

Ok if you say so...I've never had any trouble with my debit card. [emoji106]

[tonboy]

7 hours ago, steve2112 said:

My wife is saying that used to be true about forgetting the loan, but now they come after you forever

 

maybe i need to talk to a lawyer

 

So you are married and the daugther of your wife is living in the same house. ... ?
Just pay it, teach her some lessons of course of how irresponsable it is to lent so much money, and be happy. 
I do not see the point. It is your family, YOU should take care of them.

 

[tonboy]

55 minutes ago, possum1931 said:

6 years in the UK. I know from experience.

and 10 years in the Netherlands, AFTER you have payed all debts. Welcome to the digital society

 

[watcharacters]

6 hours ago, Vacuum said:

Using a credit card (borrow money) and then not pay back, is in my book same as stealing.

 

6 hours ago, BritManToo said:

Your book is wrong.

 

Brit,    do you advocate using credit cards and not paying back what is due?

 

[Stevemercer]

As other posters have said, you taking responsibility for your daughter-in-law's debt will just perpetuate her lack of responsibility in financial management.

 

From her point of view, it means she can buy whatever she wants, get in debt and have someone bail her out.

 

Some agency will buy the debt and track her down in due course. They might even try and collect the debt if they find out her Mum is married to someone with money. Don't worry, or even think about the problem, until then.  This is the Thai way.

[tonboy]

2 minutes ago, Stevemercer said:

As other posters have said, you taking responsibility for your daughter-in-law's debt will just perpetuate her lack of responsibility in financial management.

 

From her point of view, it means she can buy whatever she wants, get in debt and have someone bail her out.

Daughter in law ?? it is his step-daughter. When you get married you accept the children of your wife and also take responsablity for them. And as long as they live in the same house you also have the chance to teach them "the farang habits and ways". Seems to me a win-win situation.

But you might be only married to a thai woman to be able to stay in Thailand, have an obediant wife, good sex and live cheap. I guess in that case you should not worry a thing and live your own life. 

[Bangel72]

Often in the cases where its clear the debt cannot be paid they will set a court date but also offer a significant discounted payment option to clear the debt, the companies do not want to go to court either particularly when they will just weigh up what can be afforded to be paid each month. 

They will also thankfully block her from credit cards again often across all banks. This bit is important because you want this to happen or it will repeat itself.

Bigger risk is now that she has got away with spending money that is not hers she may switch to borrowing from others who are not as restrained as the legal system.

[thailand49]

Look your wife in the eye and tell her the reason her daughter has done because she has been bailing her out in the past.

She wants you to do the same now by paying it all off wiping it all away and if you don't you will be getting the silent treatment for sure, just act if you didn't hear that is what a Thai man would do they will get over it!

They can't come after you unless she did it as a minor but of course, wouldn't have gotten the cards if she were?  Even in Thailand I seriously doubt they can attach her wages 100%, I believe even in Thailand there is a form of bankruptcy when the times comes to hire a lawyer and have it cut in half if not more. 

She needs to take responsibility if not now when?

[BritManToo]

23 minutes ago, watcharacters said:

Brit,    do you advocate using credit cards and not paying back what is due?

 

I advocate not digging women who run up debts out of their self-dug pit, beyond the occasional 1,000bht in the morning and remind you of Briffault's Law.

Edited November 16, 2018 by BritManToo

[thailand49]

8 hours ago, steve2112 said:

My wife is saying that used to be true about forgetting the loan, but now they come after you forever

 

maybe i need to talk to a lawyer

 

1

Do the math you wife and her daughter is prodding against you so you will pay the whole thing off!  She seems to know more than she is letting on since you paying it off is the quickest and surest way of making the problem go away.

She is living with you now I would ask myself the money she making now what is she doing with it?  Debt or borrowing is a disease just like drugs alcohol!

[Pedrogaz]

3 hours ago, suzannegoh said:

So you're saying that the bank waited 20 years after she defaulted on her mortgages to foreclose on the properties?  That sounds strange, one would think that the bank would foreclose right away, but it also sounds like a different situation than with unsecured credit card debt. 

No the bank came after her about eight years after seizure of the assets. But the debt was from 1992 and the properties were seized in 2000. The mess was cleared up in 2012.

Edited November 16, 2018 by Pedrogaz
wrong date

[realenglish1]

FACT Unless you co signed for the credit cards you are not responsible Nothing the credit card companies can do to you even though you are her parents

 

Teach her a lesson tell her she has to clean up her own mess otherwise you have a snowflake on your hands