Borrowing some money

[Time Traveller]

Friends with benefits.

[Fairynuff]

Loans only happen between Thais and usually at huge interest rates. As soon as a foreigner becomes involved it ceases to be a loan, it generally becomes a scam, sometimes known as a gift. 
once the money has left you it’s pretty much certain it’s gone for good.

[smutcakes]

Give it to your friend and get her to lend the money with a Kai Faak on the land which can be registered. This is what most shady lenders do and how many come to own such enormous amounts of land. Its how many Thai Indians have amassed so much money, they love a bit of money lending and taking assets for non repayment.

 

Granted your friend might never get the land, or ever get repaid, or you might never hear from your friend again.

 

I occasionally lend money to friend, or family members, but always acknowledge that i might never see it again. Sometimes i have done, sometimes i haven't. Incidentally the one who has not repaid the most money is a farang, he owes about 800K as it stands. In the end i will get some of it back. Essentially  never lend an amount which you cannot live without, or have to change lifestyle of plans to accommodate.

 

[angloirishaussie]

if you are not shagging her don't do it

even if you are don't do it

[RocketDog]

20 hours ago, AlfHuy said:

Country A shame that foreigners can't buy any land in Thailand (maybe through a company).

Actually, if you think about it would you want your home country to sell land to foreigners? 

Most countries don't allow it. The USA does and keeps no records of it. For all I know half my country is owned by Chinese. 

If a country doesn't own its land then its citizens are all immigrants. 

[RocketDog]

The best way to protect your money and your life is to not loan it. 

 

Sorry, I know this is facile but undeniably true. 

[wotsdermatter]

It would seem that my experiences of lending money to Thais contradicts the stories portrayed in the comments section.  Having befriended many Thais, a few have asked me in private if I could loan them funds for various reasons.  Each time, the person seeking the loan and myself have sat down and discussed the reason(s) and the situation(s) for the request.  When a loan has been given there has never been any paperwork, only a handshake.  Always, the money has been repaid without any attempt to make excuses why it has not been, or could not be repaid.  Would I make a loan again?  Yes, but only after due discussion and deliberation.  Some of my loans have been in the several thousands of Baht.  No problem.

'nuf sed.

[AlfHuy]

31 minutes ago, RocketDog said:

Actually, if you think about it would you want your home country to sell land to foreigners? 

Most countries don't allow it. The USA does and keeps no records of it. For all I know half my country is owned by Chinese. 

If a country doesn't own its land then its citizens are all immigrants. 

Right and wrong.

F.ex. I am European. If you marry a Thai wife and move to Europe, she can legally buy land, own a house and this, all in her sole name. Assets in both names, no problem. The wife will always be protected. She has a child with you and you divorce, you pay. 

Here, even being married, you can't own a house, land etc. All in wife's name. If divorced, say goodbye to everything.

Also the 1 year visa is ridiculous. 

Having invested a fortune and then if one day, you don't send the 40k monthly, goodbye farang.

If all married to a farang women would speak out loud, maybe something would change.

Maybe the people in charge don't like when farang take their good-looking ladies.

I don't see the same problems with farang ladies moving to Thailand. Some sort of discrimination?

 

F.ex. where I live, I saw a young foreigner sometimes begging for money. He is gone, probably been removed.

Every week, I see an older foreign woman doing exactly the same and she keeps coming, no problem.

 

Now, I am not married to a Thai woman. The lady in question is a good hard working woman, supporting her family. She is heartbroken to see, that her sister took out a loan against her mom's house and after having spoken to the banker, the house will be auctioned off if no payment is made. Sister didn't make any interest payments.

Let your heart speak or just ignore.

I know, if money given by me, problem solved but maybe won't see a satang back.

The feeling of having saved someone's future is also a feeling that I can't weigh in money.

 

Thanks a lot for all your input.

It was very fair and not the usual "all Thai girls are just after your money".

 

Now some critical thinking and making a decision.

 

Thanks again,

Much appreciated.

[captpkapoor]

Interesting thread. I loaned a lot of money to a Thai lady friend. We made a loan agreement. She has 2 rai land with nice house built on it, the chanote is with me, and the agreement (made through a lawyer and certified etc) says I'm giving an interest free loan for 7 years, with this land registration paper as security. The lawyer told me that if at the end of this period, the loan is not repaid, I can take her to court, and the court would sell her house with the land and pay me whatever is realized. Of course, there would be court fees and lawyer fees. 

As things stand, I believe - although I hope not - that I may have to take her to court a few years down the line.

[BritManToo]

3 minutes ago, captpkapoor said:

The lawyer told me that if at the end of this period, the loan is not repaid, I can take her to court, and the court would sell her house with the land and pay me whatever is realized. Of course, there would be court fees and lawyer fees. 

What if she gets a new chanote (very small cost) and sells the house or transfers it to a relative?

[BritManToo]

4 hours ago, AlfHuy said:

that her sister took out a loan against her mom's house

Only the home owner can get a loan on their house from a bank, and they need a provable income enabling them to make the repayments in order to obtain the loan.

 

The lady is lying to you.

[Vacuum]

On 2/5/2020 at 10:52 AM, Lacessit said:

Perhaps the OP should be asking his friend why she can't get a bank loan.

[PatOngo]

On 2/5/2020 at 4:20 PM, AlfHuy said:

How could I protect myself?

 

Never, ever lend to a Thai! 98% chance you will be burned!

[PatOngo]

24 minutes ago, captpkapoor said:

As things stand, I believe - although I hope not - that I may have to take her to court a few years down the line.

If you can find her!

[Beggar]

"I would borrow her the money.

How could I protect myself?" 

 

To borrow money is a good idea here in Thailand. But it is a very different story if you lend money. So if you lend money to someone simply don't expect it to get it back. You might get it back but if not there is not much you can do. All this has nothing to do with THAILAND. It seems to be a country independent experience. It does not depend on countries but on people. 

[BTB1977]

Her sister got into the money problem,  not your friend. Let her sister and family deal with it. She can get money and use the land as a guaranty.  You are being scammed plain and simple. They look at stupid farang. Laughing at you behind your back. Both will forget you and move on with your money. You have knight in shinning armor syndrome.  Wake up from your dream. If she is your true friend she will understand.  JUST SAY I NOT HAVE. CAN NOT LOAN. 

[Eindhoven]

Heard a similar story from a friend many moons ago. Apparently her mother did the same. So she went to Pattaya to work off the debt and obtained the papers for the property. Whilst she was away, her mother managed to do the same again. I stayed out of it.

[BritManToo]

6 minutes ago, Eindhoven said:

Heard a similar story from a friend many moons ago. Apparently her mother did the same. So she went to Pattaya to work off the debt and obtained the papers for the property. Whilst she was away, her mother managed to do the same again. I stayed out of it.

Same story from my Thai wife, her mom sold her to me in exchange for paying off the loan (100kbht).

A condition of the marriage and payment, was that ownership of the family farm was transferred to our first born, which was done shortly after his birth, one year after the marriage. Mom's other children still don't know about the transfer of ownership eight years later.

 

I've still got my son and the family farm.

[Eindhoven]

4 minutes ago, BritManToo said:

Same story from my Thai wife, her mom sold her to me in exchange for paying off the loan (100kbht).

A condition of the marriage and payment, was that ownership of the family farm was transferred to our first born, which was done shortly after his birth, one year after the marriage. Mom's other children still don't know about the transfer of ownership eight years later.

 

I've still got my son and the family farm.

 

That's an incendiary in the making...

[KhaoYai]

8 hours ago, RocketDog said:

Actually, if you think about it would you want your home country to sell land to foreigners?

Personally, I don't see how the ownership of land affects a country's sovereignty. Who ever you are and wherever you own land, you still have to abide by that country's laws. No additional civil rights are conveyed, nothing is diluted and the chances of you staging a coup are not increased ????.

 

The fact that a foreigner cannot own land is responsible for a hell of a lot of problems between mixed husbands and wives. It is also responsible, although usually through their own lack of knowledge/stupidity, for a great many foreigners 'losing their shirt' in Thailand. That may be their own fault but it doesn't make it right.

 

I've heard Thai's say the law exists to prevent foreigners from entering the market and pushing up prices beyond the reach of Thai people.  I'm not sure I believe that argument but in any case, a lot of problems could be solved without that risk if some form of ownership linked to marriage was allowed.  It would be quite easy for the Thai authorities to state that in the case of a divorce, land/property owned by a foreigner married to a Thai citizen, must be sold within a certain period - much the same as the current law when a Thai spouse dies and leaves the property to their foreign partner.

[BritManToo]

15 minutes ago, KhaoYai said:

he fact that a foreigner cannot own land is responsible for a hell of a lot of problems between mixed husbands and wives. It is also responsible, although usually through their own lack of knowledge/stupidity, for a great many foreigners 'losing their shirt' in Thailand. That may be their own fault but it doesn't make it right.

It's no problem at all if the foreigner obeys the law, and doesn't attempt to buy land by proxy, or by business.

In any con game it helps if the mark is a bit of a crook.

[KhaoYai]

1 hour ago, BritManToo said:

It's no problem at all if the foreigner obeys the law, and doesn't attempt to buy land by proxy, or by business.

I don't think you are understanding me - I mean problems between husband and wife.  I had arguments with my ex-wife over this and I know of others who've had fights about it.  One friend refuses to buy (understandably) and rents instead. He and his wife have had heated discussions about it but I think she now understands his point of view. 

[AlfHuy]

27 minutes ago, KhaoYai said:

I don't think you are understanding me - I mean problems between husband and wife.  I had arguments with my ex-wife over this and I know of others who've had fights about it.  One friend refuses to buy (understandably) and rents instead. He and his wife have had heated discussions about it but I think she now understands his point of view. 

and it is now a renters market. Lots of new places. Many empty units, fully furnished and the renter dictates the rent.

[thailand49]

In spite of some good answers here think although a friend don't think with your dick?  Believe it or not that is exactly what you are doing I've been there and done that guys like us soft heart nice guy come in last?

 

This is the advice I usually give to Thai women with Farang friends or husband it isn't taken well usually the women who seem to have a perception about me after barely speak to me again?

 

What you are thinking and purposing sounds good,  where assets land why haven't they taken it to a bank? You ask protecting yourself?  My response is take your idea to a bank if the loan officer will loan you the money I will too.

 

They come to you for a reason!  if <deleted> hits the fan you can't do a damn thing!????

 

 

[BritManToo]

12 hours ago, KhaoYai said:

I don't think you are understanding me - I mean problems between husband and wife.  I had arguments with my ex-wife over this and I know of others who've had fights about it.  One friend refuses to buy (understandably) and rents instead. He and his wife have had heated discussions about it but I think she now understands his point of view. 

Never discuss, never explain yourself to a woman.

It's weak, you tell her what you're going to do ONCE, then you do it.

So many men fail to understand the importance of frame.

[captpkapoor]

23 hours ago, BritManToo said:

What if she gets a new chanote (very small cost) and sells the house or transfers it to a relative?

I asked the lawyer about this, and was told no, this would be fraud on her part. The court would not allow this.

[BritManToo]

2 hours ago, captpkapoor said:

I asked the lawyer about this, and was told no, this would be fraud on her part. The court would not allow this.

You're getting bad advice.

After she gets a new chanote and disposes of the title, nobody can do anything to recover your money.

What do you thing the judge will do when she claims no money, and a white foreigner (whom they all know are rich) is trying to squeeze her?

[DJ54]

OP is you feel like taking the risk go ahead and do it but always think you may not get repaid. This is my story. Wife’s sister in a jam

needed 300,000 baht and she had 90,000. I had extra money and

after her literally begging for help said ok hoping I’d at least get 

something back on principle of the situation. 

 

A couple months passed I said when you going to start repaying the money I loaned. She said why is everything about you? 

I’m like huh? ... to keep it short haven’t seen a dime....and I don’t 

expect to. But never will help out again. I hope.....

[gk10002000]

On 2/5/2020 at 5:41 AM, blackcab said:

No matter how sincere they are, if they don't have regular work and a disposable income then they will never be able to repay you.

yes, well intended and good natured or not.  Have to consider the financial realities.  Or, just with a piece of paper that at least documents the loan, but be fully prepared and accepted of the fact that you will not be mad if never repaid, but will be very grateful if repaid.

[dinga]

16 hours ago, BritManToo said:

You're getting bad advice.

After she gets a new chanote and disposes of the title, nobody can do anything to recover your money.

What do you thing the judge will do when she claims no money, and a white foreigner (whom they all know are rich) is trying to squeeze her?

Bizarre - thought the appropriate Land Office maintains the official title records, and the 'copy' chanote should reflect those official details.   Which is why - upon sale/transfer of ownership - both parties front the Land Office, with both the 'owner's' chanote and the official records simultaneously updated.