Police return asset to debtors exploited by loan sharks

Jettana Pantana

 

 

BANGKOK, 29 March 2019 (NNT) - The Metropolitan Police Bureau has organized a handover ceremony, in which police returned assets involved in loan shark cases back to their original owners.

 

Deputy Commissioner of the Metropolitan Police Bureau Pol Maj Gen Teerasak Suriwong returned to nine debtors the motorcycles and vehicle registrations that had been seized by their loan sharks. The handover was part of a ceremony that also saw the return of land deeds and other property that had been seized in similarly exploitative loan agreements.

 

This marked the 10th such handover ceremony, each a milestone in the Royal Thai Police’s ongoing crackdown on illegal loans. So far, 15 cases have been successfully litigated. They involved assets including 42,040 baht cash, six mobile phones, and 13 motorcycles worth a combined 719,040 baht.

 

Nationwide, police have returned 50,000 land deeds to exploited debtors, worth a combined 22 billion baht.

 

-- © Copyright nnt 2019-03-30

56 minutes ago, rooster59 said:

The Metropolitan Police Bureau has organized a handover ceremony

shameless posturers at every opportunity; 'see we can do our job' (when we want to)

Luvly - Free interest loans!

yup , guess i have to find me a loanshark , nothing can go wrong.

Money for nothing and chicks for free.

Great result 

The loan sharks are a courge on society any where in the world, not just Thailand 

5 hours ago, xtrnuno41 said:

yup , guess i have to find me a loanshark , nothing can go wrong.

Money for nothing and chicks for free.

It is obvious you have no idea apart from a weak quote from an 1980's band. Do us all a favour and continue to be a two week tourist, or better yet go somewhere else and make your smart arse comments.

28 minutes ago, emptypockets said:

It is obvious you have no idea apart from a weak quote from an 1980's band. Do us all a favour and continue to be a two week tourist, or better yet go somewhere else and make your smart arse comments.

Smooth....very smooth, papa Homer.  Any other sage contributions, you wish to enchant us with?

42 minutes ago, emptypockets said:

It is obvious you have no idea apart from a weak quote from an 1980's band. Do us all a favour and continue to be a two week tourist, or better yet go somewhere else and make your smart arse comments.

Bit strong, but anyway what constitutes a loanshark? Being unlicensed and charging upwards of 10% a month?

2 hours ago, emptypockets said:

It is obvious you have no idea apart from a weak quote from an 1980's band. Do us all a favour and continue to be a two week tourist, or better yet go somewhere else and make your smart arse comments.

It appears to me he has a much better idea of what's going on here than you do. 

 

People who go to loan sharks have nobody else to blame but themselves. They're high risk and have to pay high interest rates as a result. No pity here. If you dance with the devil, you're going to get burnt. 

 

The police have cracked down on only a tiny fraction of what's really going on. 

5 hours ago, djayz said:

It appears to me he has a much better idea of what's going on here than you do. 

 

People who go to loan sharks have nobody else to blame but themselves. They're high risk and have to pay high interest rates as a result. No pity here. If you dance with the devil, you're going to get burnt. 

 

The police have cracked down on only a tiny fraction of what's really going on. 

And  those  dumb  borrowers  will go right back out and borrow  again now they have their  assets  back to pawn.

Police return assets to debtors, so in 6 months they will all be in the same mess again.

Debtors were overheard saying, yipee lets go out and borrow more money, when things get tight pc plod will come along and sort it out.

1 minute ago, colinneil said:

Police return assets to debtors, so in 6 months they will all be in the same mess again.

Debtors were overheard saying, yipee lets go out and borrow more money, when things get tight pc plod will come along and sort it out.

Yeah, so true. Seeing the way Thai logic seems to work, I can see that happening in reality.

It's not meant to be a 'Thai-bashing' comment either.

Are loan sharks the same as loan rocks as I remember someone saying there are no sharks here ????

9 hours ago, emptypockets said:

Great result 

The loan sharks are a courge on society any where in the world, not just Thailand 

So are the police here. They are as exploitative as the loan sharks.

Most of these so called loan sharks are wearing brown uniforms. My guess would be these ‘returned’ items were from competitors.

 

 

17 hours ago, emptypockets said:

Great result 

The loan sharks are a scourge on society any where in the world, not just Thailand 

So will this also include all the Commercial Banks who charge exorbitant rates on Credit Card Debt,

 

Also what about 'Pay Day Loans'  Loans typically cost 400% annual interest (APR) or more. The finance charge ranges from $15 to $30 to borrow $100.

 

The biggest loan sharks are the 'Legit' ones

18 hours ago, emptypockets said:

It is obvious you have no idea apart from a weak quote from an 1980's band. Do us all a favour and continue to be a two week tourist, or better yet go somewhere else and make your smart arse comments.

Guess you lack some kind of humour.

Isn't it just hilarious, you borrow money and dont have to pay back?!. All those people loaning and knowing they cant pay back. Sorry, but then you dont know anything about life.

I know, not only Thailand, is hard in living for the, in this case Thai.

But many people (globally) loaning and getting in problems. With gambling or everytime a new smartphone or what ever. If you borrow for that kind shit, get a grip on your self.

I know there are people, "drowning" , there are millions of them. But thats another discussion.

To end with 80-ties line : dont roll the dice if you cant pay the price.