Picture: INN

 

Region 8 police in conjunction with Tha Sae police in Chumphon province arrested two debt collectors in an investigation into loan sharking. 

 

Police had received many complaints that two gangs were charging 2% daily interest amounting to 730% interest a year. Depending on money borrowed another deal was 304% interest a year. 

 

This was, needless to say, evidence of illegal loan sharking. 

 

INN reported that gangs were moving into Chumphon, Nakhon Sri Thammarat and the south in general from the eastern seaboard using Line and Facebook. 

 

One person who had borrowed 130,000 baht was being charged interest of 5,000 baht a day and if they didn't pay they were threatened with having their younger sister abducted until they did. 

 

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Our local Money Man charges 2% per month although he does want security for that rate (car, land, buffalo).

 

We actually used him whilst building the house, needed a quick 250k to bail out our contractor whose Khmer workers had all been arrested as illegal two weeks before the next stage payment (and the arrival of my $$$ from the UK).

 

He actually paid out in an hour bringing new meaning to "Instant Loans".

2 hours ago, webfact said:

was being charged interest of 5,000 baht a day

“Deleted” Gangs !

 

 

 

Edited August 12, 20215 yr by Tarteso

3 hours ago, webfact said:

if they didn't pay they were threatened with having their younger sister abducted until they did. 

“Deleted” Gangs Again!

3 hours ago, webfact said:

One person who had borrowed 130,000 baht was being charged interest of 5,000 baht a day and if they didn't pay they were threatened with having their younger sister abducted until they did. 

130,000 from a loan shark... Jeez

I would abduct him take his money and pay off the loan. Why they try to act hard? Lololololol

Several years ago, some Thais rented land across the street and opened a ramshackle bar/karaoke on what was a previously peaceful village road, and of course they had a huge set of speakers and not a care in the world.   We had a few run-ins with them and it was getting a bit tense, local cops useless as ever. 

 

Noticed it was blissfully quiet and dark over there one night about 8 months on.  Didn't twig until the next morning when I saw 2 Thais rock up on motorcycles, making lots of loud phone calls as they inspected the suddenly vacated property.  Village Central Intelligence Agency said they were the loan sharks.

 

Nice and quiet again after that.  ????

25 minutes ago, A1Str8 said:

I would abduct him take his money and pay off the loan. Why they try to act hard? Lololololol

No you wouldn´t.

37 minutes ago, A1Str8 said:

I would abduct him take his money and pay off the loan. Why they try to act hard? Lololololol

Yer I would just hit him .....Now lets see is that Crtl-x  or Alt-J on the key board.............

4 hours ago, webfact said:

One person who had borrowed 130,000 baht was being charged interest of 5,000 baht a day and if they didn't pay they were threatened with having their younger sister abducted until they did. 

This story is pointless without a  photo of the 'younger sister'!

17 minutes ago, BritManToo said:

This story is pointless without a  photo of the 'younger sister'!

Here you are

On 8/12/2021 at 12:02 PM, Gottfrid said:

No you wouldn´t.

Yes I would. But I think I already wrote that down. 

On 8/12/2021 at 12:16 PM, sanuk711 said:

Yer I would just hit him .....Now lets see is that Crtl-x  or Alt-J on the key board.............

I am using a phone pops.

9 hours ago, A1Str8 said:

Yes I would. But I think I already wrote that down. 

Same syndrome as usual. Just easy to be a tough guy behind the keyboard.

On 8/12/2021 at 5:52 PM, Meat Pie 47 said:

Here you are

5000 baht a day to feed the hostage maybe

13 hours ago, Gottfrid said:

Same syndrome as usual. Just easy to be a tough guy behind the keyboard.

I am the same outdoors sis. 

32 minutes ago, A1Str8 said:

I am the same outdoors sis. 

sure.