100,000 Thai Workers to be Sent Abroad This Year

[scorecard]

1 hour ago, sanuk711 said:

Could you tell me what security you have holding a piece  of paper that states this land belongs to Joe Brown--when your name is Fred Jones.

 

I mean no disrespect and I am sure he will get his money back from his wife's relations---but this is not how you get security on a loan.

I agree, it's a poor way to gain security. But the reality is that most folks don't realize it can be sidelined easily, and it is a common practice.

 

Loan sharks do the same thing, they demand land title documents as a security. Perhaps one difference is that plenty of loan sharks have little hesitation to be violent with folks that are not repaying loans on time, therefore the borrower frightened to try to somehow get a new copy of the chanute document. 

 

Thai banks do the same, they hold chanutes as security.

Edited April 27, 2022 by scorecard

[sanuk711]

8 minutes ago, scorecard said:

Loan sharks do the same thing, they demand land title documents as a security. Perhaps one difference is that plenty of loan sharks have little hesitation to be violent with folks that are not repaying loans on time, therefore the borrower frightened to try to somehow get a new copy of the chanute document. 

I haven't seen that before scorecard, & I feel I live in the heartland of private lending -ISSAN- You have the 3 levels of lending-- 1/ House/Land.. . .. The papers/Chanut is usually always  re -registered into the lenders name, borrower pays all cost. The highest legal rate of lending is 16.6% I have seen loans from 1% a month to 3% a month. If not paid, then its already owned by the borrower. In the area I live in there have been 3 foreclosures-1 private lender 2 bank loans.

2/ The lender holds something of value & lends against it-- like a pawn shop deal. all the gold shops do it of course and they charge 3% a month.

There is no violence in both those situations because the borrower has the security.

 

3/ lending on no security---Bar girls / Gambling debts, people who are desperate for money, but have family in Moo Barn -so wont moonlight  etc.  - sky high interest & intimidation.

[jacko45k]

On 4/27/2022 at 8:54 AM, sanuk711 said:

Could you tell me what security you have holding a piece  of paper that states this land belongs to Joe Brown--when your name is Fred Jones.

 

I mean no disrespect and I am sure he will get his money back from his wife's relations---but this is not how you get security on a loan.

Well it seems to work for banks. Money can be borrowed  against such bits of paper. Best to keep them out of the wrong hands. 

[sanuk711]

1 hour ago, jacko45k said:

Well it seems to work for banks. Money can be borrowed  against such bits of paper. Best to keep them out of the wrong hands. 

If you think that the Chanut is not notarized at the lands department---and that the banks just give you the money  for showing it.

 

Then I guess we should all line up for a payout.....................

[Neeranam]

On 4/25/2022 at 6:54 AM, CartagenaWarlock said:

Better they go to a country where they can earn more money instead of working in Thailand . Just like people  travel to Thailand to live as "wife visa" refugees and  immigrants go to "wife visa" refugees countries. The cycle continues. 

put that pipe down

[metisdead]

Some posts with disallowed references to the current government have been removed.

[jacko45k]

4 hours ago, sanuk711 said:

If you think that the Chanut is not notarized at the lands department---and that the banks just give you the money  for showing it.

 

Then I guess we should all line up for a payout.....................

I have known instances where money was borrowed based on a chanut that was simply stolen.....  you can live believing those things do not happen here if you wish.

[sanuk711]

7 minutes ago, jacko45k said:

I have known instances where money was borrowed based on a chanut that was simply stolen.....  you can live believing those things do not happen here if you wish.

I can believe that individuals may make that mistake & lend money jacko---I just find it hard believe your statement that banks would lend money that way.  I (wife) have had mortgages-- The house is inspected-- the ID of the lender must tally with the chanut, Then your earning power to pay the mortgage back is looked at--saving bank records--employer....etc etc.

 

Quote

Well it seems to work for banks. Money can be borrowed  against such bits of paper.--jacko45k

 

[scorecard]

1 hour ago, jacko45k said:

I have known instances where money was borrowed based on a chanut that was simply stolen.....  you can live believing those things do not happen here if you wish.

Of course these things happen, here and in every country.

 

The level, scope, breadth of scams, corruption etc., is well known by all, the amount of this continuously revealed in the media is impossible to not see. And anybody with any common sense surely realises there's an 'iceberg' involved, the stuff we see is just the 10 - 20% above the water line. What's under the water line and not seen by the naked eye is just massive.

 

 A simple example, I'm aware of one university where nobody could build / provide afully detailed up to date and accurate financial (income) report. Some investigation revealed how many cashier offices in each faculty etc., existed and where students were expected to pay their fees, but there were no regular/audited reports/ banking etc., statements, plus many powerful folks were overriding the normal cashiers process by intimidation, etc., etc.

 

Ultimately it was decided that nobody / no office etc., was allowed ever, no matter what the circumstances, to accept fees direct from students or direct from sponsors / scholarship providors etc.

 

All fees had to be paid to an outside agency which was tasked to accept all fee payments, an interim receipt was provided but the final/actual receipt was issued by an office of the education commission. And students had to provide a copy of the ultimate receipts to be able to register for courses and collect text books etc. And there was a regular review / comparison of the reports issued inside the uni by a panel which had a large membership and each panel of current review staff were responsible to review each review and all members had to sign and place their fingerprint on the report. The names of the folks (mostly professors) who didn't attend the review meetings were dpcomented and passes to a parliamentary committee. 

 

Ultimately the numerous scammers/gangs/powerful intimidators were pushed out of the process totally. But there were instances where parents and students tried to subvert the new processes with fake receipts 'issued by the old cashier who is very kind to accept our money'. And similar <deleted>. As the whole subject was digitized and there was more and more push for the majority of payments to be accepted by bank transfer.