Bank loan advice needed

[Paul UK]

Hi

 

My thai girlfriend works as a teacher near udon thani.  She has worked as a teacher for 7 years, but is always on a 6 month contract.

 

She earns 9000 baht/ month

 

She has borrowed 20,000 baht from a 'friend' who is charging her 1000 baht a month interest (works out at 60% interest per year).

 

I am trying to find her a bank that will lend her money, to repay the 20,000 baht loan, at a more realistic interest rate.

 

Most banks i have looked at have minimum monthly earnings required of 15,000.

 

Wondering if anyone on forum knows of anywhere that will loan her the money?

[canopus1969]

GSB

[Paul UK]

Hi

 

I looked at gsb site but as my girlfriend lives with her family, she doesnt own any assets such as a house, so cannot see an option on gsb site that would help her.

 

 

[Mikisteel]

Teacher earning 9k a month?

 

20k debt at 1k a month interest payment.

 

I believe you have 1 voice telling you all this info and your western name and western brain is choosing to believe it.

 

If your so bothered just front her the 20k and let's wait for the new chapter.

 

 

 

 

[473geo]

Sounds right on the button, wife of a farang loaned money, loved teachers, 5%

 

just give her the 20k and let her pay you off 1k a month no interest

 

Not a lot to lose if all goes pear shaped, and a big plus for you in trusting each other, if you stay together

[Inn Between]

The OP is clearly not a gold-digger. 

 

 

[Berkshire]

21 hours ago, Paul UK said:

She has borrowed 20,000 baht from a 'friend' who is charging her 1000 baht a month interest (works out at 60% interest per year).

Why would a "friend" be charging her 1,000 bt interest a month on a 20k loan?  Perhaps she made all this up to squeeze some money out of you.  Go meet the friend and renegotiate the terms of the loan.  If the friend won't budge, tell your GF to just not pay back the loan.

[jacko45k]

8 hours ago, 473geo said:

Sounds right on the button, wife of a farang loaned money, loved teachers, 5%

 

just give her the 20k and let her pay you off 1k a month no interest

 

Not a lot to lose if all goes pear shaped, and a big plus for you in trusting each other, if you stay together

Yes, best idea and saving some of her money. Although I would say 'loan her' not give her. If she fails, dump her.

[BritManToo]

21 hours ago, Paul UK said:

She has borrowed 20,000 baht from a 'friend' who is charging her 1000 baht a month interest (works out at 60% interest per year). I am trying to find her a bank that will lend her money, to repay the 20,000 baht loan, at a more realistic interest rate.

You're making a mistake.

She doesn't want you to find her a bank, she wants you to pay off her loan.

 

Pay up, or get dumped.

Edited July 23, 2019 by BritManToo

[jacko45k]

2 minutes ago, Berkshire said:

Why would a "friend" be charging her 1,000 bt interest a month on a 20k loan?  Perhaps she made all this up to squeeze some money out of you.  Go meet the friend and renegotiate the terms of the loan.  If the friend won't budge, tell your GF to just not pay back the loan.

No, I believe it. And not paying back would result in problems.

[jacko45k]

1 minute ago, BritManToo said:

Pay up, or get dumped.

You know how it goes, pay once and it will happen again. Better get dumped now.

[kokesaat]

2 minutes ago, Berkshire said:

Why would a "friend" be charging her 1,000 bt interest a month on a 20k loan?  Perhaps she made all this up to squeeze some money out of you.  Go meet the friend and renegotiate the terms of the loan.  If the friend won't budge, tell your GF to just not pay back the loan.

T.i.t.  you borrow money in Thailand, you pay interest.....no matter from a bank, a loan shark, or a friend.  That's how things work here.  

[Berkshire]

3 minutes ago, jacko45k said:

6 minutes ago, Berkshire said:

Why would a "friend" be charging her 1,000 bt interest a month on a 20k loan?  Perhaps she made all this up to squeeze some money out of you.  Go meet the friend and renegotiate the terms of the loan.  If the friend won't budge, tell your GF to just not pay back the loan.

No, I believe it. And not paying back would result in problems.

That's the point I was trying to make.  If she did take out a loan from someone, it was most likely from a loan shark and not a "friend." 

[jacko45k]

1 minute ago, Berkshire said:

That's the point I was trying to make.  If she did take out a loan from someone, it was most likely from a loan shark and not a "friend." 

Well he/she might be both. My GF actually lent money to a friend under similar circumstances. It surprised me but in reality not so unusual. Sub-prime lending!