Can Foreigners Get Short Term Loans.

[Brewster67]

Hi.

 

A friend of mine up here in the Northeast is currently going through a hell of a time with this covid c rap.

 

He is an English teacher at a local school and has been laid off since mid-march which was very convenient for the school because had he not been laid off for a few more weeks the school would have entered the holiday period and he would still be getting paid.

 

I feel sorry for him because he is really struggling. He has two young sons who he has had to bring up as a single parent after their mum left them years ago for whatever reason (bargirl).

 

Anyway, he is now finding it very hard to keep them fed and a roof over their heads. He really thinks they are all going to be out on the street by the end of this month. 

 

That is the short story... Now, I was wondering if it was possible for a foreigner to get a short term loan using a service like First Choice or Umay+... I know my wife used to use these before we got together. I believe his earnings are around 40,000 per month, so shouldn't be a problem paying it back quickly once he is back on his feet.

 

I didn't start this thread so people could criticise my friend, I started it so I could try and find out a bit of advice. So please if you don't have any advice that helps solve the immediate problem, then could you just click the backup button and go on to another thread.

 

Thank you.

[Kwasaki]

loan shark no problem.

[Brewster67]

4 minutes ago, Kwasaki said:

loan shark no problem.

Obviously that is going to be either out of the question or at best a very very last resort. 

 

I wouldn't say a loan shark is 'no problem' either with some of the stories i have heard about Thai loan sharks.

Edited May 16, 2020 by Brewster67

[Kwasaki]

1 minute ago, Brewster67 said:

Obviously that is going to be either out of the question or at best a very very last resort. 

 

I wouldn't say a loan shark is 'no problem' either with some of the stories i have heard about Thai loan sharks.

Look sorry for your pal, I dunno myself only know my teacher friend can borrow from his school bank as I understand it in this time of C19.

[Stese]

If he has / school have paid into social security here he could get help from them. Our school put some paperwork through and we are getting 13000 a month payment.

[Brewster67]

1 minute ago, Stese said:

If he has / school have paid into social security here he could get help from them. Our school put some paperwork through and we are getting 13000 a month payment.

Thanks... I already gave him similar advice about SSO not long after lockdown started. So not sure if he got any joy from that. I don't know if he even has contact with his school, as far as I am aware it is closed at this time, so maybe he has not been able to get any contact with the administration.

 

All I know is it was sneaky for them to let him go the way they did just to get out of paying him over the holiday period..

 

I told him not to go back to them.... After they reopen on July 1st I think schools are going to have many openings available for foreign teachers with quick starts.

 

I am not even sure about the actual status of his employment, I have been a bit suspicious that the school were hiring him illegally to save money and hassle... I really can't say. The reason for my suspicions is the way they have gone about this. Surely they can't just dump him without pay with no notice if this was 100% legit.

[natway09]

It is going to be nigh impossible to get a loan here as he has no employment.

Any chance of a member of his family back home helping him out short term ?

[sead]

Pawnshop is his best choice

[chuck holmes]

On 5/16/2020 at 6:50 PM, Brewster67 said:

Obviously that is going to be either out of the question or at best a very very last resort. 

 

I wouldn't say a loan shark is 'no problem' either with some of the stories i have heard about Thai loan sharks.

No problem do you have collateral

[Mac98]

A Gofundme page.

[1FinickyOne]

Sorry for his problems... Banks want collateral.. or guaranteed funds.. it just sounds like he would not qualify and not be a good risk... unfortunately this sounds like a friends or family situation... 

 

As a charitable gesture, it would be a nice thing to do.. as a business proposition, it sounds like a losing endeavor. 

[digger70]

Can Foreigners Get Short Term Loans. 

 

My Honest opinion..      Don't like his chances ,the banks ain't gonna give him a loan He's Not Working. 

Loansharks are a No No. they will rip you off. Only Friends or Family can Help.

[KhaoNiaw]

Has he got a car? If so he could get a loan against that. It would require a Thai guarantor though. But right, as the last poster said, probably not if he's not working.

Edited May 18, 2020 by KhaoNiaw

[Lacessit]

If he has any assets, such as a car, he should sell immediately.

I continue to be gobsmacked by people who live from paycheck to paycheck. Has no one in the current working generations heard of saving for a rainy day?

[DJ54]

Check with him to see if contract with school is still valid. He should be able to contact someone at the school a colleague,

management.. ... 

 

Find out if there is any updates when school will reopen. I live in NE village and niece and nephew had to go to school today but

I don’t the reason. They had to wear school uniforms it’s public school. They gone 2-3 hours not a full day. 

 

Depending what he finds out have him estimate what will get him

through now and when s hood starts. Then you follow up with a

post and see if anyone can come up more ideas..

 

 

[timendres]

5 hours ago, Lacessit said:

If he has any assets, such as a car, he should sell immediately.

I continue to be gobsmacked by people who live from paycheck to paycheck. Has no one in the current working generations heard of saving for a rainy day?

While I am often shocked at people burning through their money for no good reason, I suspect that a father of two young boys, collecting a teacher's salary here in Thailand, is going to have a very difficult time saving significant money.

 

The social security suggestion is the best, if the employer was paying in. Otherwise, it is a non-starter.

 

The other thing he should look into is the possibility of making some money teaching online. The demand for these services has sky rocketed during these shutdowns, and there are a number of sites that provide you with students - you just sign up and they hook you up. He will not make tons of money, but it may be enough to skate by.

 

https://www.vipkid.com/

https://eslauthority.com/

 

https://www.goabroad.com/articles/teach-abroad/best-paid-online-teaching-jobs

https://www.usatoday.com/story/money/2019/06/11/chinese-learn-english-online-us-tutors-remote-jobs-rise/1356821001/

 

[gamini]

It really depends on your relationship with your bank. I have had an account with a Thai bank for over 40 years and I have no difficulty getting a short-term loan even without a guarantee. I always make a point of being friendly with the manager of my bank and pop in his office for a chat now and again.