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Famous "Look Chup" seller disappears owing millions - creditors line up as Chonburi police investigate


webfact
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14 minutes ago, Mr Meeseeks said:

Lesson: Never, ever, and I mean ever, lend a Thai money unless you reconcile yourself with never seeing it again.

At 20% interest per month, I'd take the risk!

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3 hours ago, delgarcon said:

At 20% interest per month, I'd take the risk!

Usury mate....I hope you lose all your money.

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4 hours ago, webfact said:

Nathakan said she had known "Ros" for several years and lent her money at interest rates. But towards the tail end of last year problems started and she asked for all her money back.

Yeah...the problem with that is someone who needs to borrow 6 million is unlikely to have it available to pay back, when they are having troubles meeting the repayment plan [plus possibly exorbitant interest rate], at the drop of a hat.

Edited by Bluespunk
clarification
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6 hours ago, webfact said:

Both ladies talked of how they had trusted their friend with their money due to her business, house and social standing.

 

Now they want answers - and their money back. 

Bless... so trusting.

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I've always followed a strict rule: Never, ever lend money to friends or family, unless you are okay with never seeing it again.

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4 hours ago, DBath said:

I've always followed a strict rule: Never, ever lend money to friends or family, unless you are okay with never seeing it again.

I only ever give money, that way it's never more than I can afford and if I get some back it's gravy.

I did spend many years living off an overdraft. But at least the interest for that was manageable. I used it as a revolving credit when I chose to live beyond my means. It's all paid back now.

I wonder how much these people actually lent and at what interest rates. I don't believe they lent millions. I suspect that's the level of debt accrued.

 

Edited by BusyB
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13 hours ago, Mr Meeseeks said:

Lesson: Never, ever, and I mean ever, lend a Thai money unless you reconcile yourself with never seeing it again.

  Money lending is a major  business  here. Like all modern societies the Thai economy  is based on credit and loans.  When lending and borrowing money careful judgement  has to be made. I see at least 16 people didn't. 'Never a lender nor a borrower be'. Or never lend out what you can't afford  to lose! lol

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10 hours ago, Pedrogaz said:

Usury mate....I hope you lose all your money.

Historically money lenders offered opportunities to all manner of people who otherwise could not afford their ambitions.

Edited by The Hammer2021
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7 hours ago, DBath said:

I've always followed a strict rule: Never, ever lend money to friends or family, unless you are okay with never seeing it again.

My Thai son got numerous requests to 'borrow his money' when he started university and his uni colleagues realized he had a western family name.

 

He did loan once, never any payments, he asked 'when are you going to pay back the money you borrowed from me?'  Response 'if you are going to ask for me to repay the money then you're not a nice friend' They never spoke again.

 

After that his standard response was 'Well I have no money and I'm hoping I can borrow from you, can you give me 5,000Baht today!' 

 

The word spread quickly, nobody asked him again.

 

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On 1/17/2022 at 10:08 AM, delgarcon said:

At 20% interest per month, I'd take the risk!

When repayment is never going to happen, you may as well make it 1000% - it still amounts to nothing.

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On 1/19/2022 at 12:37 AM, timendres said:

When repayment is never going to happen, you may as well make it 1000% - it still amounts to nothing.

I'm afraid you don't know what you're talking about. Yes the lenders take a hit now and again, but repayment is not so important when you're getting the capital back with 5 months of interest.

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