Prawit hands back more assets seized from moneylenders

By The Nation

 

 

DEPUTY Prime Minister Prawit Wongsuwan, who is also defence minister, yesterday presented 2,012 debtors in Loei province assets worth over Bt3.4 billion, including 1,773 land-title deeds, Defence Ministry spokesman Lt-General Kongcheep Tantravanich said.

 

Many people – hugging documents to their chest – couldn’t hold back tears of joy over getting the assets they thought were lost due to “unfair contracts” with illegal moneylenders. 

 

Prawit – in his capacity as deputy PM supervising police affairs – presided over a ceremony at Loei Pittayakom School in Muang district. This is the fifth time that a big ceremony has been held to help people get their assets back from off-system moneylenders. 

 

The deputy PM said the Northeast appeared to have the highest number of people – 560,000 of 900,000 nationwide – who have fallen victim to illegal moneylenders, so the authorities will do their best to help them with this issue of high-interest off-system debts that keeps people poor. 

 

Prawit thanked all state agencies for helping solve problems and enforcing the law. He said this and the previous ceremonies had seen assets worth more than Bt13.7 billion returned to the people, including 9,526 land-title deeds covering 31,838 rai (5,100 hectares) nationwide. 

 

The deputy PM has presided over all five large-scale ceremonies of this type, with similar smaller events held simultaneously by police in other provinces. 

 

This time, a smaller event was held simultaneously in Nakhon Ratchasima, where Provincial Police Region 3 acting chief Pol Lt-General Pulsap Prasertsak handed land-title deeds to 390 debtors, and in Bangkok, where Provincial Police Region 1 chief Pol Lt-General Ampol Buarapporn returned 290 land-title deeds, 10 cars and 27 motorcycles.

 

Source: http://www.nationmultimedia.com/detail/national/30359469

 

-- © Copyright The Nation 2018-11-29

Why do hard working Thai mom and pop borrows money to the hilt from money lenders at high interests rate? because Thai banks are extremely difficult to borrow from, and unless you have an impeccable banking and tax records, you have no hope of getting a loan from them, so they turn to the loan sharks knowing full well what expected from them to pay back and when they fail, they cry foul... the sulussion, get the local back to be easier to borrow money from at much more realistic conditions...

1 hour ago, webfact said:

The deputy PM has presided over all five large-scale ceremonies of this type, with similar smaller events held simultaneously by police in other provinces. 

What are the chances of him presiding over a handing back ceremony of some iffy luxo watches ? as every time he ponces about like this it just brings it into sharper the non handing over of said timepieces .. He ain't best equipped in the way forward for image management is he .. 

so why does they increase tax 

as they do consumers are forced to increase there spending as well, but there salary does not increase .

he is doing what he always done, telling stories it takes a fool to believe .

it goes for them all and there unusually welth.

A good deed, but for what motive?

 

Election votes?

 

Were Expensive accessories handed back?

 

 

 

 

Many people couldnt hold back tears of joy, as Ole Fatty hands them their land papers.

Many were overheard shrieking , hi ho off to the money lenders we go, borrow more money.

What a nice man, bless.. , . 

Pathetic putting a man of Prawit's repute in a position like this. He is utterly loathed (and with good reason), and this ghastly theme of making him look like a man with the poorest people's interests at heart shouldn't fool any of them, but it certainly won't harm his chances of clawing some kind of image back.

This simply isn't appropriate with an election being supposedly on the horizon. Despicable form to be perfectly honest

Certainly the term quiet achiever doesn't apply here

This old relic sat on his fat can, while others worked to reunite these people with thier property  ,then grandstanded in the photo opps...

2 hours ago, webfact said:

560,000 of 900,000 nationwide – who have fallen victim to illegal moneylenders

 

A drop in the ocean compared to those fallen victim to bad governance.

2 hours ago, Justgrazing said:

What are the chances of him presiding over a handing back ceremony of some iffy luxo watches ? as every time he ponces about like this it just brings it into sharper the non handing over of said timepieces .. He ain't best equipped in the way forward for image management is he .. 

Especially with the dodgy combover he's sporting in the above photo!

4 minutes ago, madmitch said:

Especially with the dodgy combover he's sporting in the above photo!

 

 a sort of, MaoHawk 

4 hours ago, webfact said:

Prawit hands back more assets

Was he heard using the words: im laaeo?

2 hours ago, ezzra said:

Why do hard working Thai mom and pop borrows money to the hilt from money lenders at high interests rate? because Thai banks are extremely difficult to borrow from, and unless you have an impeccable banking and tax records, you have no hope of getting a loan from them, so they turn to the loan sharks knowing full well what expected from them to pay back and when they fail, they cry foul... the sulussion, get the local back to be easier to borrow money from at much more realistic conditions...

The bank always make a risk assessment before loaning money as they should. They would actually love to loan you the money, that's there business. These folks were obviously high risk or they would not have lost the assets they put up as collateral. Nobody forces them to sign up for high interest loans. The problem is that the loan sharks take advantage of there lack of education and low IQ. I.e. It's like taking candy from a baby so they need to be protected. 

1 hour ago, colinneil said:

Many were overheard shrieking , hi ho off to the money lenders we go, borrow more money.

I've lived in rural Isaan for 13 years now and, sadly, this is the norm.  There's a reason the motorcycle mafia ripoff 'money lenders' are so prolific and do a thriving business.  The Thais, just like when they drive, have no patience whatsoever.  They're not about to wait until they can save the money for that new bling toy they gotta have, so "off to the money lenders we go" is so true.

 

The ramifications of this can be deadly.  Not long ago they killed a local in my previous town who couldn't pay back his debt, even after some stern warnings.  Not long after the last warning the guy didn't show up for work, which was not like him.  His roommate found a suicide note and began searching in the woods behind the house and found his charred corpse. Case closed since there was a suicide note? Nope, the autopsy revealed the borrower had magically shot himself in the back of the head before setting himself on fire.  He was also a happy go lucky guy who enjoyed life so suicide was highly unlikely.

 

2 hours ago, ezzra said:

Thai banks are extremely difficult to borrow from, and unless you have an impeccable banking and tax records, you have no hope of getting a loan from them

So true ezzra... well, credit card banks anyway.   My Thai gf, a former teacher who sells high-end health products on commission, was recently denied a credit card because she's not salaried.  Even though she produced months of bank statements showing her income deposits it didn't matter.  So what did she do?

 

The next week she bought a brand new car using the same bank statements as income!  Go figure.  T.I.T.  ????

If they carry on with this type of fiasco, then obviously little point in overhauling the education system. Simply the continuation of appearance over substance, and theatrics and power over intelligence.

I feel really bad for the loan sharks. They are no different than a credit card company.

They explain the rules. You get into debt. Its not the loan sharks issue. Its the borrowers.

 But this is thailand and there is no making sence.

 

The bank denies loans, so you really need money, then you borrow with high interest and probably you already know you are going to loose.

But what can you do?

However also red stories about loans and the Thai dont pay back, the garantor is reliable for this loan and then have to pay!

Like some months ago, a teacher who wanted to help students and was garantor for many. The students simple dont pay back, thank you very much teach.

When money comes in the game, there is always trouble.

Is it fair to give property back? I dont think so, the Thai know what they are doing, borrowing otherwise then from bank.

These people willing put up assets to get loans and defaulted on them.  Now in an effort to get votes the government is doing this.

Victims? They willing knowingly go to illegal money lenders and agree to a deal. When can't meet the agreed terms, they cry foul and are victims? Sheesh.

The junta has done nothing for 4 years now they are Santa Claus - election coming? What election!

No one "fall victim" to moneylanders!

they are really victim of their on stupidity, greed, or carelessness.

People go to money landers, then people fail to pay back the loans.

Then they cry.

But it gives good photo opp to the saviors in the news, in the right time.

2000 new votes bought. With money of the moneylanders.

 

Must say i agree with the posts on the side of the money lenders,no one forces these fools to borrow money they often know they have little chance of repaying,as we know Thai people seem unable to forsee the consequences of their actions,this is not Thai bashing it is something i have observed over the six years i have been here. 

Now the money lenders may be illegal but they provide a service,i do accept that a percentage of borrowers may be too uneducated to understand what they are getting themselves into,but i would say the majority do,when they see the money on the table all thought of 'hey this could get me in trouble in future' goes out the window. Classic example my ex wife's now deceased sister,not to speak ill of the dead,but she was none to sharp financially, when i first came here she said 'if i have big money like you i spend it all' i replied 'what do i do when i spent it all" she shrugged 'not worry for that' was her answer,so when you are up against this kind of live for today attitude,not hard to see why these people get into difficulty. I also liked Colinniells post,no doubt some of them will be straight back to a different money lender.

I ask again - would this be happening if it weren't building up to an election year?

Letting wolves be in charge of guarding hen-houses against foxes and sharks?  It takes the attention off the wolves who can then dine at their discretion on whatever they wish whenever they want.



 

Next time get a dead friend to lend you the cash and there will be no problems ????

Looks like the junta is trying to improve The Toads image. They seem to realize that he is considered by most to be loathsome and will severely damage their ability to manipulate the election in their favor.

14 hours ago, mok199 said:

This old relic sat on his fat can, while others worked to reunite these people with thier property  ,then grandstanded in the photo opps...

Of course that is not how it works in the superior country you were raised.

Me thinks there will be a lot of "Lender Retribution" in Loei's future - the ones that didn't get jail terms will be looking for an ounce of flesh as a way of saving face - scenario - Somchai and Kuhn Lek  borrowed 2 mil against their land, Police came and took the lender to jail and forgave the debt, gave Somchai & Lek their land paper back  Happy Happy =  Money lender is now out not only the cost of the loan, but the illegal interest he/she was charging, and doesn't have any papers to hold against the borrowers  -  I see Somchai & Lek in a double suicide tied to a tree with bullet holes in each others heads..............just saying  -  this ain't over, I've been in SE Asia too long to even think for a second it is.