webfact Posted September 23, 2022 Share Posted September 23, 2022 Daily News Thai Caption: Cruel debt collectors even took 11 baht Daily News reported that they were contacted by a woman they called Samai, 52, who is a restaurant owner in the Nong Phai district of Phetchabun in north eastern Thailand. She's been having a hard time of late and turned to a new group of loan sharks to help make ends meet. She said that on Monday morning they turned up in a car as she was preparing to open her shop and demanded money. She said she had just been to market to get food to sell using up the last of her money and asked them to come back in the afternoon. A loud argument developed that could be heard all down the soi as the gang demanded payment and Samai thought she might have to pawn something. In the end they grabbed her last eleven baht and left. They turned up again the next day and there was a policeman in the restaurant but he did nothing. Calls to the police later telling the constabulary that the gang were defaming the force shouting their mouths off about not being scared of arrest prompted some action. The cops told the loan sharks to go easy on payments for those in difficulty. Samai said that this gang was a new one added to the 4/5 who operate in the area providing short term loans. She said that she ran into financial difficulties what with having to look after her child and four relatives and having to meet 1,000 rent for her shop, 500-600 baht utility bills and costs of food for the restaurant each morning of 800-1000 baht. So she borrowed 4,000 baht receiving 3,600 then had to pay 200 baht a day for 24 days. When she ran into repayment difficulties she begged the gang to let her repay 100-150 baht a day but they refused. Gangs such as these - effectively demanding interest of around 30% in a month - are operating all over Thailand, notes ASEAN NOW. They are illegal yet the police do very little with the media suggesting that they are either scared of acting or in league with the gangs. -- © Copyright ASEAN NOW 2022-09-23 - Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here. Monthly car subscription with first-class insurance, 24x7 assistance and more in one price - click here to find out more! Get your business in front of millions of customers who read ASEAN NOW with an interest in Thailand every month - email [email protected] for more information 1 Link to comment Share on other sites More sharing options...
Popular Post edwinchester Posted September 23, 2022 Popular Post Share Posted September 23, 2022 "in league with the gangs" Did it really take so long to realise the truth? 6 1 Link to comment Share on other sites More sharing options...
ezzra Posted September 23, 2022 Share Posted September 23, 2022 Hardly a person in Thailand that didn't, at one time or another, used the services of the neighborhood loan shark, and if the they could , they would open branches like 7/11, so yes, it's easy to fall prey into their merciless hands, easy to borrow and most time very hard to pay back... 2 Link to comment Share on other sites More sharing options...
VinnieK Posted September 23, 2022 Share Posted September 23, 2022 Thais and their addiction to 'bollow money pay you tomollow' Hopeless. 1 Link to comment Share on other sites More sharing options...
Popular Post PremiumLane Posted September 23, 2022 Popular Post Share Posted September 23, 2022 1 hour ago, VinnieK said: Thais and their addiction to 'bollow money pay you tomollow' Hopeless. Not as hopeless as that comment. 2 1 Link to comment Share on other sites More sharing options...
joskeshake Posted September 23, 2022 Share Posted September 23, 2022 Police do nothing about such things, my wife went many years ago to such a loan shark in Korat and asked for 300.000 baht, now 7 years later she still pay every month 7000baht and police are afraid to do something, because she has children and grandchildren. Link to comment Share on other sites More sharing options...
khunpa Posted September 23, 2022 Share Posted September 23, 2022 6 hours ago, webfact said: The cops told the loan sharks to go easy on payments for those in difficulty. What a great police force they got here! 1 1 Link to comment Share on other sites More sharing options...
VinnieK Posted September 23, 2022 Share Posted September 23, 2022 3 hours ago, PremiumLane said: Not as hopeless as that comment. Since when is the truth 'hopeless'? 1 Link to comment Share on other sites More sharing options...
Mac Mickmanus Posted September 23, 2022 Share Posted September 23, 2022 51 minutes ago, joskeshake said: Police do nothing about such things, my wife went many years ago to such a loan shark in Korat and asked for 300.000 baht, now 7 years later she still pay every month 7000baht and police are afraid to do something, because she has children and grandchildren. Why don't you pay the remainder money back to the lenders ? 1 Link to comment Share on other sites More sharing options...
ed strong Posted September 23, 2022 Share Posted September 23, 2022 These do seem very common in Thailand especially for people that have little money and probably don't calculate quire realise the amount of interest that is connected to their loan. Or you can always add collateral, I know of one women in Hua Hin, works in real estate but also has numerous loans through sharks against her house and restaurant. Potentially will lose it all if the debt is not serviced each year. Link to comment Share on other sites More sharing options...
Upnotover Posted September 23, 2022 Share Posted September 23, 2022 1 hour ago, joskeshake said: Police do nothing about such things, my wife went many years ago to such a loan shark in Korat and asked for 300.000 baht, now 7 years later she still pay every month 7000baht and police are afraid to do something, because she has children and grandchildren. She also has a husband, why doesn't he do something? 1 1 Link to comment Share on other sites More sharing options...
biggles45 Posted September 23, 2022 Share Posted September 23, 2022 The police will only act if there is something in it for them. If the people can't afford to pay the loan sharks they obviously can't pay the police! 2 Link to comment Share on other sites More sharing options...
Thingamabob Posted September 23, 2022 Share Posted September 23, 2022 The majority of Thais find it difficult to live within their means. They find it impossible to resist buying things they cannot afford, and accordingly become indebted to loan sharks. They then spend a huge amount of their time hiding from those to whom they owe money. 2 Link to comment Share on other sites More sharing options...
AustinRacing Posted September 23, 2022 Share Posted September 23, 2022 (edited) Not a fan of loans sharks, but… 1) she sought their services. 2) she was grateful to them for helping her out. 3) she agreed to pay to a schedule. 4) she did not keep her end of the deal. No sympathy for her. If loan sharking is illegal, she engaged willingly in the act, so police should not help her out. Edited September 23, 2022 by AustinRacing Link to comment Share on other sites More sharing options...
hotchilli Posted September 23, 2022 Share Posted September 23, 2022 19 hours ago, webfact said: She said that she ran into financial difficulties what with having to look after her child and four relatives and having to meet 1,000 rent for her shop, 500-600 baht utility bills and costs of food for the restaurant each morning of 800-1000 baht. So she borrowed 4,000 baht receiving 3,600 then had to pay 200 baht a day for 24 days. When she ran into repayment difficulties she begged the gang to let her repay 100-150 baht a day but they refused. She took the loan knowing what the repayment terms were. She's trying to move the goalposts. No sympathy. 1 Link to comment Share on other sites More sharing options...
brianthainess Posted September 24, 2022 Share Posted September 24, 2022 Seems people here take loans out from sharks and banks, but think they don't have to pay it back. IMO 1 Link to comment Share on other sites More sharing options...
Harveyboy Posted September 25, 2022 Share Posted September 25, 2022 On 9/23/2022 at 3:49 PM, khunpa said: What a great police force they got here! big and brave of them eh..but then again they don't want to affect the flow of the envelopes now do they .. Link to comment Share on other sites More sharing options...
PremiumLane Posted September 26, 2022 Share Posted September 26, 2022 On 9/23/2022 at 3:53 PM, VinnieK said: Since when is the truth 'hopeless'? Truth? hahaha get over yourself Link to comment Share on other sites More sharing options...
joskeshake Posted September 26, 2022 Share Posted September 26, 2022 On 9/23/2022 at 4:28 PM, Upnotover said: She also has a husband, why doesn't he do something? Because she does not want me to interfere Link to comment Share on other sites More sharing options...
joskeshake Posted September 26, 2022 Share Posted September 26, 2022 On 9/23/2022 at 3:57 PM, Mac Mickmanus said: Why don't you pay the remainder money back to the lenders ? I told her many times already, but every time she does not want to talk about it. Link to comment Share on other sites More sharing options...
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