Thai police in massive debt - they owe 270 billion baht

[Mr Meeseeks]

1 hour ago, IraqRon said:

Get ready for rogue police to extort money from Retirement/ Married visa holders as they are aware of the vast sums of money those visa holders have in their bank accounts , at least most of them who jumped thru all the hoops for their visa.

The cops will know all the necessary info to find the visa holders and where the money is.

Much easier to go after:

Land owned illegally by foreigners in company name

Majority foreign businesses with nominee shareholders

Foreigners working without permits

Foreigners here without correct visas or on overstays

Foreign businesses contravening the Alien Business Act etc.

 

You can be sure they won't suffer when there's plenty of foreigners breaking the rules left to extort 

[khunpa]

52 minutes ago, Jerno said:

1997 global financial crash started in by Thailand.  Meltdown again?

Let’s hope so. For sure these loans will never be paid back. 

 

 

 

[smedly]

1 hour ago, ezzra said:

I didn't understand a word for this article.. the Thai police owe billions to whom? and to re-finance their debts? what is this, a private police force funded by non government fiances companies?...

the article is confusing to say the least

 

what I think it is saying is that people who happen to be police have accumulated Bt270billion in private debt that the are having difficulty repaying, it really has little to do with how they are employed

[Eff1n2ret]

How queer. In some western countries, notably the USA and UK, Black Lives Matter and their adherents are agitating to defund the police, and in Thailand the police have succeeded in doing it themselves

[smedly]

1 hour ago, Denim said:

It means individual police officers , using their position as government employees , have taken out private loans to buy cars and homes etc but are struggling to make repayments having bitten off more than they can chew.

lack of foreign tourists might have something to do with it

[James105]

And these are the people that did not lose their jobs/incomes due to government overreaction.  If it is that bad for them with an income, imagine how bad it is for those prevented from making any kind of income over the last 8 months.

[BangkokReady]

52 minutes ago, connda said:

A good start would be to start impounding the vehicles of the 80% of the speeders who get automatic speeding tickets they refuse to pay.

Double the fine for non-payment and collect the impound fees.

Doesn't sound very Thai.  A few jumping jacks and squats are fine.

[david555]

1 minute ago, James105 said:

And these are the people that did not lose their jobs/incomes due to government overreaction.  If it is that bad for them with an income, imagine how bad it is for those prevented from making any kind of income over the last 8 months.

those would find it hard to get such  (official ) loans 

[BangkokReady]

11 minutes ago, Mr Meeseeks said:

Foreigners working without permits

Foreigners here without correct visas or on overstays

These two are trickier as they're probably already being exploited/extorted a fair bit already.  They don't want to tread on anyone's toes.

[mancub]

Perhaps these individuals are finding that they are increasingly becoming more scrutinised and held "accountable" for their actions and therefore less able to illicit dubious untraceable payments.

Social media and dash-cams not exactly being their friends.

30 million  missing, unsuspecting, potential victims not a great help either.

[herfiehandbag]

1 hour ago, Gsxrnz said:

If they're not careful, these debt burdened representatives of the RTP may be forced to resort to corrupt methods to boost their income.  

 

No Thai would do such a thing...

[ExpatOilWorker]

1 hour ago, mtls2005 said:

So who holds this debt?

 

And how much is tied to Elephant Ticket "borrowing"?

 

Teachers in debt. Check.

 

Police in debt. Check.

 

SRT. Check.

 

Thai Airways. Triple check.

 

 

 

 

 

Wow.

 

 

 

Does military personnel also have such easy access to loans and if so, how much is their accumulated debt?

[James105]

18 minutes ago, david555 said:

those would find it hard to get such  (official ) loans 

Agreed. But they still need to eat and pay rent so they would get unofficial loans from loan sharks, which is much, much worse.  

[HaoleBoy]

Again, where's the actual reporting for this?

Ask which are the top 10 provinces with police personnel debt ...

Ask what level of police have the top personnel debt ... 

Ask what is the level of debt for top military personnel ... 

Ask which banks are holding the most police personnel debt ... and WHY ...

Ask the general in charge what his personnel debt is ... 

[Geoffggi]

Easy enough, reduce the number of mia-noi's - Job done .....................LOL

[ohno]

You could literally write this article about any group of people.

 

Nurses owe finance firms a staggering xxxxxx baht

Farmers owe finance firms a staggering xxxxxx baht

Small business owners owe finance firms a staggering xxxxxx baht

People who live in Udon Thani owe finance firms a staggering xxxxxx baht

Bald people owe finance firms a staggering xxxxxx baht

[RafPinto]

1 hour ago, Mr Meeseeks said:

Not in my experience. I put no money aside for my credit cards from either KTB or KBank...

I spoke to UOB and a friend of mine works at Krungsri bank.

 

If you do not work here and want a credit card, you have to put a certain amount away which you can't access and they give you 80% of that amount as credit card balance.

[moe666]

You have to remember most of the police force donot tap into the big money of Bangkok and other larger cities that have a lot of ways to make side money. The officers working in the out back like Mae Hong Song, Loei, and the other smaller towns and villages just donot have the cash flow.

[mtls2005]

Look, not sayin' it's easy for thai policemen to get dodgy loans with little collateral, but these three BiB each got 850,000 baht loans. For what? Who knows? Detailing?

 

 

[GeorgeCross]

2 hours ago, IraqRon said:

Get ready for rogue police to extort money from Retirement/ Married visa holders as they are aware of the vast sums of money those visa holders have in their bank accounts , at least most of them who jumped thru all the hoops for their visa.

The cops will know all the necessary info to find the visa holders and where the money is.

yeah good luck with that. most of the guys wifes i know, are well connected.

they can try.. but they better like pattani.

 

 

 

 

[ThailandRyan]

2 hours ago, Jerno said:

1997 global financial crash started in by Thailand.  Meltdown again?

Could be, and with the Evergrande situation in China s well as elsewhere, it sure is looking like its simmering right now with a full boil possible in the future. US Stock market and housing prices are also hitting new highs.

[CharlieH]

Makes you wonder how much of these loans was actually used to obtain the position they have in the first place ? (allegedly ????)

 

 

[worgeordie]

Police , Teachers ,other Civil servants , Thai Airways ,

Railways , what is the real amount of debt in Thailand, 

but the Government is supposed to be holding massive

amounts of Foreign exchange , has anyone been down

in the vaults lately to check it's still there ......

regards Worgeordie

[Mr Meeseeks]

26 minutes ago, RafPinto said:

I spoke to UOB and a friend of mine works at Krungsri bank.

 

If you do not work here and want a credit card, you have to put a certain amount away which you can't access and they give you 80% of that amount as credit card balance.

Why not just use a debit card then? 

 

If no work permit then I am surprised a bank would even consider giving a credit card to a customer.

[Mr Meeseeks]

17 minutes ago, ThailandRyan said:

Could be, and with the Evergrande situation in China s well as elsewhere, it sure is looking like its simmering right now with a full boil possible in the future. US Stock market and housing prices are also hitting new highs.

Yup.

 

Prepare with:

Crypto

Luxury watches

Gold and other precious metals

 

Etc. 

[Pattaya Spotter]

2 hours ago, Dmaxdan said:

Time for an increase in their tea money charges? 

That's the problem...no businesses to tea money anymore...bars, soapies, discos, and nightclubs all shutdown for two years and ongoing.

[thaitom]

Ask for a loan from the police guy whats his name Mercedes ? the one with all the cars.

[MrJ2U]

2 hours ago, ezzra said:

I didn't understand a word for this article.. the Thai police owe billions to whom? and to re-finance their debts? what is this, a private police force funded by non government fiances companies?...

Good question.

 

7%-8% is ridiculously high interest rate for a secured personal loan from a private bank.

[Mr Meeseeks]

19 minutes ago, GeorgeCross said:

yeah good luck with that. most of the guys wifes i know, are well connected.

they can try.. but they better like pattani.

From 31 years personal experience any Thai girl that says she is connected usually isn't. They like to talk it up though. My family this and my family that. 

 

All bravado. 

 

When they find out who I know they soon keep quiet. 

[ThailandRyan]

20 minutes ago, Mr Meeseeks said:

Yup.

 

Prepare with:

Crypto

Luxury watches

Gold and other precious metals

 

Etc. 

You mean borrow the watches from the dead friend of Prawits, and take from the treasury.....Hmm, some have already been feeding from the trough enough already.