Family member stood guarantor for friend, now friend has done a runner. I want to go after her.

[RickBlaine]

1 hour ago, yeahbutif said:

Well  even the police get caught..a policeman became gaurentor for his policeman friend.. the policeman friend ended up in monkey house.. can't pay..and the gaurentor policeman lost there house..  as still had to make payments... . So don't become a gaurentor at all..

I did wonder what the law is on making a family homeless, whether the finance co can only put a charge against the property (payable when/if it's sold). But if even the police can lose their house, that's a worry. 

[Kwasaki]

2 hours ago, FriendlyFarang said:

Legally it’s the bank’s car, she is just renting it. If she doesn’t pay the rent the bank demands their car back and any outstanding costs. If she doesn’t return the car I’m certain that they will report it as stolen.

She has not stolen it she has stopped paying for it. 

[Kwasaki]

2 hours ago, transam said:

An oh too familiar story...

 

The loan company must have the blue book, they are the owners, so the runaway bird can't road tax it.

But if the guarantors don't cough-up they will probably try and locate the ride, sell it on, then pursue their costs and lost money through the courts, something the guarantors signed up to do. ????

When buying the blue book is with the finance company but you have a copy of the book so you can tax it with that, you don't need the blue book. 

[Kwasaki]

2 hours ago, RickBlaine said:

Do you know if that's always done? If so, it suggests she's not taxing it, or the company would have her.

We need to talk to a lawyer about options.

It's not stolen.

[transam]

1 minute ago, Kwasaki said:

When buying the blue book is with the finance company but you have a copy of the book so you can tax it with that, you don't need the blue book. 

I thought the loan company sent you a printout every year at tax renewal time, but at least it cannot be sold on without the book, which has the bank name as the owner until finance completion..

[transam]

1 minute ago, Kwasaki said:

It's not stolen.

Perhaps it could be deemed as stolen because the bank is the owner, and the loanee hasn't coughed up any dosh. Perhaps the bank has sent out a notice of reposition but can't find the bird...

[FriendlyFarang]

17 minutes ago, RickBlaine said:

The bank can 'demand' all they like, the problem is firstly to find her and the car.

That’s the problem of the guarantors, for the bank it’s easier if the guarantors pay instead of repossessing the car and selling it.

 

13 minutes ago, Kwasaki said:

She has not stolen it she has stopped paying for it. 

Stolen might not be the right term, yes.

I think it’s embezzlement, she is in possession of somebody else’s property and refuses to return it.

[Kwasaki]

2 minutes ago, transam said:

I thought the loan company sent you a printout every year at tax renewal time, but at least it cannot be sold on without the book, which has the bank name as the owner until finance completion..

Cannot be sold but very useful if bought for parts. ????

[BritManToo]

3 hours ago, RickBlaine said:

Any thoughts, anyone been involved in something like this before? 

Transfer properties to another family member is the obvious answer. 

[Andre0720]

In Thailand, I have a few rules regarding money, all that I need.

1.- "You can borrow an amount of money from me, as long as it is an amount that I am ready to lose".

2.- "You cannot borrow money from me, if you have not reimbursed a previous loan".

And I am always happy when a friend borrows a few thousand bahts from me hehe.

 

I am ready to lose that, and I will not loan more money to that person.

No exceptions...

Guarantor, no different than borrowing money...

 

[Kwasaki]

9 minutes ago, transam said:

Perhaps it could be deemed as stolen because the bank is the owner, and the loanee hasn't coughed up any dosh. Perhaps the bank has sent out a notice of reposition but can't find the bird...

Up to now it's not been paid so the finance company will be going through the motions by contacting who guaranteed the loan. 

[Kwasaki]

11 minutes ago, BritManToo said:

Transfer properties to another family member is the obvious answer. 

Too late. 

[transam]

1 minute ago, Kwasaki said:

Up to now it's not been paid so the finance company will be going through the motions by contacting who guaranteed the loan. 

Some time ago I recall someone we know, being I think 3 months behind on a car loan payment, a car with 4 people got out with clip boards in hand, they were, I was told, talking driving the car away, but I think something was sorted to delay the removal....

[connda]

4 hours ago, RickBlaine said:

My Thai sister-in-law stood guarantor for a 'good friend' (as she thought). There were 2 other guarantors, for a 1.2M baht SUV.

Don't co-sign loans for anyone who isn't immediate family.  Co-signing for a 'friend?'  The is the quintessential definition of 'stupid.'  Why?  The OP is living out the reason why.

[brianthainess]

4 hours ago, RickBlaine said:

Unfortunately said 'friend' has stopped making payments and done a runner, they think with the vehicle and boyfriend.

Maybe at her Mums, does no one know where their friend comes from originally?, 

was she working for anyone? 

any kids at school?

Edited March 30, 2023 by brianthainess

[Kwasaki]

1 minute ago, transam said:

Some time ago I recall someone we know, being I think 3 months behind on a car loan payment, a car with 4 people got out with clip boards in hand, they were, I was told, talking driving the car away, but I think something was sorted to delay the removal....

My wife's family here have been through the courts and stuff and her brother is paying out for a car bought by a family member he guaranteed who disappeared of the face of Thailand and the 4 year old car was never found. 

[3NUMBAS]

3 hours ago, Regyai said:

It's just the monotonously repetitive cycle of life in Thailand were each successive generation does the same old idiotic thing.

 

Despite the never ending telling of these situations, people are content with the delusional notion that standing as guarantor has no repercussions.

like gary glitters guarantors .he fluffed it again .loud mirth

[BE88]

26 minutes ago, Kwasaki said:

My wife's family here have been through the courts and stuff and her brother is paying out for a car bought by a family member he guaranteed who disappeared of the face of Thailand and the 4 year old car was never found. 

It seems to be a well calculated blow from the start, I doubt that the SUV is still whole but well in spare parts as you rightly say, recovering perhaps a maximum of half a million. It will be impossible to sell it on the official market therefore the way of spare parts is the most probable, a real pity this loss of confidence among the Thai people, many people do not have enough money and therefore they turn to crime.

 

[Kwasaki]

1 minute ago, BE88 said:

It seems to be a well calculated blow from the start, I doubt that the SUV is still whole but well in spare parts as you rightly say, recovering perhaps a maximum of half a million. It will be impossible to sell it on the official market therefore the way of spare parts is the most probable, a real pity this loss of confidence among the Thai people, many people do not have enough money and therefore they turn to crime.

 

It does happen a lot but not in the Thai media that much. 

My wife help her brother when summon to court, it was a dam shame he got scammed by family.

 

It gets a bit personal to me so I don't want to discuss my families situation in any detail.

[Ralf001]

Car is probably in a neighboring country with its new owner.

[BE88]

2 minutes ago, Ralf001 said:

Car is probably in a neighboring country with its new owner.

Left hand drive not many but in England maybe ????

[Adumbration]

OP has not been in Thailand very long by the sounds of things.

 

Start distancing yourself from the Sister in Law right now.  She is done for.  And so are the other two guarantors.

 

I have a Thai friend.  She is a lawyer.  She went guarantor for a motorbike for her father on finance.

 

Father lent the bike to someone in the village.  And that was the last that was seen of it.

 

Finance company came after my friend for the balance of the full repayment amount.

 

Cost her 55K baht.  

Edited March 30, 2023 by Adumbration

[Kwasaki]

15 minutes ago, BE88 said:

After ten years of dictatorship where the country has been governed by incompetent people to say the least, the economic situation is very difficult in the country and this logically the government does not tolerate any criticism of the real situation and consequently the families which are the basis of companies increasingly enter into economic conflict.

 

Or strong doubts if the other corrupt politicians return to power or some other hologarchic billionaire the situation improves. It's a real shame to see Thailand sinking into poverty with few oligarchs, unfortunately we westerners are in the same way.

I don't see it like that at all do you really think democracy makes things any better, I've lived long enough to see it doesn't. 

[Kwasaki]

18 minutes ago, BE88 said:

Left hand drive not many but in England maybe ????

Sell a late or new SUV as Spare parts in Thailand no problem.

[Kwasaki]

6 minutes ago, Adumbration said:

OP has not been in Thailand very long by the sounds of things.

 

Start distancing yourself from the Sister in Law right now.  She is done for.  And so are the other two guarantors.

 

I have a Thai friend.  She is a lawyer.  She went guarantor for a motorbike for her father on finance.

 

Father lent the bike to someone in the village.  And that was the last that was seen of it.

 

Finance company came after my friend for the balance of the full repayment amount.

 

Cost her 55K baht.  

Distance yourself from your Thai family ???? you have not been here long here either by the sounds of it. ????

[Liverpool Lou]

4 hours ago, RickBlaine said:

I did wonder why the finance co haven't already looked for the car (maybe they have). I guess it's cheaper and easier to go after the guarantors.

"I did wonder why the finance co haven't already looked for the car..."

Because that's not the way it works, there's no point in having guarantors if their first course of action is to repossess the vehicle.   Finance companies make their money by lending money, they have no interest in trading vehicles.

[Liverpool Lou]

4 hours ago, RickBlaine said:

4 hours ago, FriendlyFarang said:

They probably reported the car as stolen, so if she tries to pay tax it will be flagged.

Do you know if that's always done?

No, that is not the way finance companies work, the vehicle cannot be reported stolen as it is not stolen, it is "owned" under finance by the keeper who just hasn't paid what's due, the finance company has to take civil action to recover the debt.

[Liverpool Lou]

4 hours ago, FriendlyFarang said:

If she doesn’t return the car I’m certain that they will report it as stolen.

No, they will not, they have three guarantors to pursue and they cannot report a car stolen that has not been stolen.

[steven100]

5 hours ago, RickBlaine said:

I can't believe she would do that to her friends.

geeeze .......  welcome to Thailand ... they do it all the time.

[MrJ2U]

5 hours ago, RickBlaine said:

but this cannot be right.

It is. 

 

They guarantee the loan if the car owners do a runner.

 

They are liable for the payments.