46 minutes ago, Doctor Tom said:

19 hours ago, 473geo said:

Thread is not about loaning money is about being a guarantor

either way, no 

And when he defaults which i'm sure he will, you pay.    

23 hours ago, wtfracing said:

Now he works for a government service

Yet the Finance company or banks won't give him a loan, (any wage slips to show?) GO figure why that is. Jeez my wife's  daughter  got a bank house mortgage and she works for Starbucks.

These types of requests are common in Thailand and usually always end badly. My mother-in-law has acted as guarantor for so many loans and even though the so called friends always default she continues to do it. Why? Because she simply does not know how to look them in the eye and say 'no, no i cannot help you'. And she is not a wealthy woman - she used to work back to back shifts to pay off other peoples debts... and she would do this rather than confront the so-called friends. Infact, she would see them daily but neither party brought up the subject of the loan and so she would simply pay them off. Absolutely crazy.

 

Anyway I digress. Of course you should not even give this request a second thought. If you look at the logic it kinda goes as follows:

 

1. banks will not lend to this guy

2. His friends and family will not lend to him or act as guarantor

3. There is a chance he will see this as 'free' money knowing that if he defaults the rich farang will pay.

 

3 big red flags right there!

 

 

 

I would just ignore it.

My experience is that if you "lend" money to a Thai, then you should just tell them that it's not a loan and is a gift, because you are unlikely to ever get the money back and trying to get the money back will cause arguments. Especially given the current situation, many people are penniless and the Thai fallacy of all foreigners being rich persists. If you sign as a guarantor for a Thai person with your house as collateral, you should assume that you will lose your house. 

Even if they start to repay the loan, they will never repay the full amount. 
 

You will see it in their eyes: “I am Thai, you are farang. I am poor, you are rich. You are in my country. You should be giving me this money for free.”

 

In Tinglish, the word “loan” always changes to “gift”. It is just a matter of (short) time; letter-by-letter in 5 easy steps:
 

loan—->loon—->loot—->loft—->lift—->gift

Never guarantee a debt in Thailand! The finance company holds the vehicle log book and can repossess if there is a default. Forced sale of a house that is worth much more than the loan is an easy option for them and will be their first choice not last resort. Get a usufruct on the house to prevent this

1 hour ago, Doctor Tom said:

I would disagree and say do it as strongly as possible, to make the point very clear . 

Oh dear...you have a lot to learn. 

It's not your house.... so if they call on your wife's guarantee......

On 10/12/2021 at 7:29 AM, wtfracing said:

How would you react to a situation like this?

I would say "no"...????

On 10/12/2021 at 7:48 AM, worgeordie said:

If a Bank wont lend him the money, why should your wife

be guarantee, the risk is just too high. just keep an eye on

her in case he talks her into doing it....

regards worgeordie

If it is HER. Money? Why not?????

 

I would tell her to say "No".

 

Then I'd probably give her the silent treatment for 2 days and no sex for one week.

 

4 hours ago, brianthainess said:

And when he defaults which i'm sure he will, you pay.    

Read the post I responded to......

2 hours ago, MrJ2U said:

Then I'd probably give her the silent treatment for 2 days and no sex for one week.

 

Weird, I thought you would punish her.

Little boy wants a new toy, but can't pay for it. Boohoohoo. Expect a temper tantrum. 

 

There are plenty of used trucks that beggar boy can buy for a song. The shiny new toys can wait for him to succeed in his new business. Wish him well, and slam the door HARD! 

7 hours ago, sawadee1947 said:

If it is HER. Money? Why not?????

 

It's not about money .... it's about been a guarantor ,for 2 million Baht , for 4 years..

did you read the post......????

regards worgeordie

16 minutes ago, worgeordie said:

It's not about money .... it's about been a guarantor ,for 2 million Baht , for 4 years..

did you read the post......????

regards worgeordie

Can't you understand what I replied? Obviously not. If SHE got the money to pay if HE might fail. Why not then. Did you get it now???????

Well, this post is doing well, isn't it?

Surely even this member of 12 years has the brains to deal with this... but I reckon the post is nonsense!

No one, even a newbie, would be daft enough to agree to this, or daft enough to ask strangers.

Could it be one of those 'attention-seeking' posts that has no truth in it?

On 10/12/2021 at 5:14 PM, Pravda said:

I would not worry as your wife should have already said no and send him off.

 

 

Perhaps not, hence why he is bring it here, but you are spot on. If that was not my wife's reaction, there would be a very serious talking coming.

 

No brainer, OP, grow a pair.

On 10/12/2021 at 5:36 PM, CharlieH said:

Your wife is the answer here, what does she say, because ultimately its her house ! her reaction and how she wants to proceed will also tell you exactly how she feels about you and your relationship.

 

Hopefully she will ask you and what you think, in which case the answer would be (should) Not a chance in hell ! ????

 

 

It would be extremely worrying "if" the wife asks the OP what he thinks about this. In my opinion that would not be a good sign what happens after that. ie. change of mind, perhaps willing to help, something going on behind OP's back etc.

On 10/12/2021 at 3:59 PM, 473geo said:

Thread is not about loaning money is about being a guarantor

You think there's a difference in the situation?

 

When a wife opens you up to this kind of scam the only way is the highway. You have to pick them right to start with. It can be done, but takes time.

Update:

Thanks again for all your replies very much appreciated. To update the situation I told the wife to do what she thought was best and she showed me that she had already said no to the ex as well as explaining that they were no married or in communication with each other and that she was happily married to me and would do nothing to endanger or affect our happiness so a good outcome all around 

keep a long way away........

On 10/12/2021 at 12:29 PM, wtfracing said:

How would you react to a situation like this?

Ask the wife, its her decision i take it, i mean she owns the residence you sleep in lol

Almost every (who have job) Thai can get new car out whit few thousand BTH and montly pay that to like Toyota! If he works in goverment he can easily get loan from goverment bank. Why have even relationship to ex has to wonder, coz normaly ex huspend's dont ever contact to they ex's even they have kid's whit them! Why you think in Thailand has sin sod "system" if normaly man has something to do whit ex womans!

https://thethaiger.com/news/north-east/family-attempts-to-sell-eyes-and-kidneys-to-save-home-and-farm

 

Same thing really...

4 hours ago, Jenkins9039 said:

https://thethaiger.com/news/north-east/family-attempts-to-sell-eyes-and-kidneys-to-save-home-and-farm

 

Same thing really...

yes - this story is a prime example of how lending money between friends just does not work out so well. A policeman and his missus ask a good friend to act as guarantor on the purchase of a tractor almost 1mb. Decide they no longer want to make the monthly repayments and the poor friend now stands to lose his house. This is a very common story here in Thailand. The policeman could probably make the repayments but if it affects his daily life too much what the heck! I'll let it be my buddies problem! I have heard/witnessed countless stories like this here. For some reason the average Thai does not seem to have much of a conscience when it comes to reneging on debts/promises (even though it may result in extreme hardship for the other person). Personally it makes my blood boil that people can so easily behave like this. I hope the policeman gets into trouble for his actions.