Thai police in massive debt - they owe 270 billion baht

[ThailandRyan]

16 minutes ago, Mr Meeseeks said:

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. 

Don't you now who my father is.....

[trainman34014]

2 hours ago, Cake Monster said:

In a Newspaper out of BKK that carried this story a couple of Days ago, there was said to be an idea to set up a series of Provincial Cooperatives for the management of these Loans.

All of this is an abuse of privilege working as a Gov,t Employee. As it is with the Teachers, where " cheap "Loans are obtained.

Cheap Loans still need repaying, and now the Country is starting to suffer badly economically, these Loans are needed to be repaid.

I am always surprised by the number of Plod that frequent Gold Shops, 

 

Most Plod that visit Gold Shops are there to collect the weekly or monthly 'Protection Money' that all Business's have to pay them; not that they get any 'Protection' as such but if they get robbed the Plod may actually investigate and try and catch someone !

[edwinchester]

Simple, just fine every single man woman and child in Thailand 4000 bht each and it's paid off.

[Banana7]

There should be no special consideration, low interest rates or special loans for Police. For loans, borrowing money, they should be treated the same as any normal borrower. If they don't pay, execute terms of the loan, the banks need to remain solvent and protect their clients' deposits.

 

[JeffersLos]

I'm sure the Chinese can help pay it off for some police concessions. 

[RafPinto]

42 minutes ago, Mr Meeseeks said:

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.

Just more secure booking a flight etc.

 

I was offered  a cc without hesitance at both banks mentioned above.

[RafPinto]

43 minutes ago, Mr Meeseeks said:

Yup.

 

Prepare with:

Crypto

Luxury watches

Gold and other precious metals

 

Etc. 

yeah, Crypto.

 

Have a look what happened the last 24 hours.

[bluemoon58]

they owe 270 billion baht

 

Ha ha ha ha ha, breathe, ha ha ha ha ha ha 

[arick]

Always blame the Northern provinces if bloody Loe owes that much how much  do the bigs cities owe 

[Liverpool Lou]

3 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

Why does anyone need to get ready for that?  Have there been historical reports of police/immigration officers extorting those with retirement extensions because they know that they have money in the bank or are you just having a Thai-bash?

[arick]

Maybe they should go back to riding a buffaloo. Canadian RCMP mounties were riding horses until the London Met sold them their used cars! 

[Liverpool Lou]

3 hours ago, Cake Monster said:

I am always surprised by the number of Plod that frequent Gold Shops, 

That's interesting, where has that study been published?   

[BestB]

Give them a break , they have not been able to collect any tips for 2 years already 

[Liverpool Lou]

3 hours 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.

How would that benefit individual police officers with debt?   You're not seriously suggesting that people with private debts (police officers) should have those debts paid off for them using the proceeds of fines or the sale of impounded vehicles, are you?    

[inThailand]

Is Gen Wizard behind the curtain upset because it's the government that has let them this money? Same as where the teachers get their loans from. No bank is going to loan this amount of money to someone who has no collateral, ie no assets to secure the loans. It's the govt who gets screwed when these loans are defaulted on. 

[Liverpool Lou]

3 hours ago, RafPinto said:

We, farang: if we want a credit card here, they give us 80% of the money we have to put aside.

If you want a 80k limit on your card, the bank wants you to put 100k aside.

That's irrelevant to this thread, however, it applies to all foreigners, not just "farangs" because at any time foreigners can just go home and leave their credit card debts here unpaid.  Thais cannot do that.

[wombat]

not in the slightest do i believe this feel sorry for me story from the BiB.

[Mr Meeseeks]

30 minutes ago, RafPinto said:

yeah, Crypto.

 

Have a look what happened the last 24 hours.

It's certainly not without risk, but with every risk brings opportunity. Decent cryptos will be a hedge against worthless fiat currencies and even more so when the economic realities start to bite. Trillions of unpayable debt, financial crisis looming, unemployment soaring... I know where I'd rather park funds.

 

I took profits yesterday just before the dump as some of my alts were up 50 to 100% in 24hrs. When things are euphoric it's usually a clear signal to take profits and prepare for a bloodbath. 

[Liverpool Lou]

2 hours ago, kickstart said:

What is it about Thai civil servants ,a while ago we were told Thai teachers were in debt to about the same tune .

They must think as government workers they can just borrow money and think they job acts as a shield when it comes to paying it back.

The article is about the amount of debt and refinancing it (approximately B1m per officer on average) it not about B270bn in delinquent loans or the majority refusing to repay debt!

[malibukid]

time to actually to stop and  fine motorist and not just tourist for not wearing helmets.

[Mr Meeseeks]

14 minutes ago, Liverpool Lou said:

That's irrelevant to this thread, however, it applies to all foreigners, not just "farangs" because at any time foreigners can just go home and leave their credit card debts here unpaid.  Thais cannot do that.

It didn't apply to me and I am a 'foreigner'. ????

[Liverpool Lou]

2 hours ago, khunpa said:

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

What rationale are you using to state that "for sure, police officers will never repay their loans" and why would you want another financial crisis?

[Chiang Mai Will]

4 hours ago, Dmaxdan said:

Time for an increase in their tea money charges? 

I wonder if their "lack of income/debts" has to do anything with the lack of tourists to fleece and the subsequent lack of clubs, bars, and restaurants to pay their "monthly dues"?

[Liverpool Lou]

2 hours ago, HaoleBoy said:

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 ... 

Why?

[Jimbo2014]

4 hours ago, Mavideol said:

one has to wonder who and where/which pockets ALL that side boosting income goes.... with the amount of $$$$$ corruption they collect/grab it is hard to believe they are on the red, somebody is not sharing

At a guess much of it ends up in seedy bars and gambling establishments.  But you are right, corruption in Thailand tends to enormously enrich the top tier with little to trickle down to the hard working plebs.  

[Liverpool Lou]

1 hour ago, MrJ2U said:

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

But not that much for the unsecured loans that most police officers will have.

[vandeventer]

4 hours ago, BangkokReady said:

So easy to get a loan.  Not so easy to pay it back.  Such a shame that everyone feels that they have to have a giant truck or they are a nobody.  Especially when the government has to eventually allow the fuel prices to go up.

 

It kind of makes you wonder, has tourism been subsidising all of Thailand?

And the government still has enough money to buy 8 F-35s? Did they forget about the Subs.?

[Liverpool Lou]

1 hour ago, Mr Meeseeks said:

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. 

From 27 years personal experience anyone who says that they are  connected usually isn't. They like to talk it up though. My family this and my family that. 

 

All bravado!

[Liverpool Lou]

1 hour ago, Banana7 said:

There should be no special consideration, low interest rates or special loans for Police. For loans, borrowing money, they should be treated the same as any normal borrower. If they don't pay, execute terms of the loan, the banks need to remain solvent and protect their clients' deposits.

 

Most of them borrow from their employer, not the banks, it's a perk.   

 

Thai banks are in no danger of insolvency due to delinquent loans

[decca60]

They need to put more expensive gas in their powerful German cars or Ferrari..... hey Joe !!!!