Debt collectors - any recomendations?

[Andyfez]

Any recommendations for debt collectors in the Bangkok region? Lawyers and the court seem to be ineffective as the person concerned keeps dodging the bullet by changing address..

 

Before the sarcastic comments start, yes - I've been in Thailand 20 years, and know loans are considered gifts if they aren't backed up with a chanote or similar guarantee. I was prepared to lose this small loan, as I was helping them over a very difficult covid time (I have a signed contract). It wasn't big, but they now have a job and can afford to repay it. It was the way they walked away from the agreement that annoyed me..... 

 

Principals over practicalities in this instance.

[rwill]

And you are going to chase it by losing more money?

[Andyfez]

Yes. If I can.

As I already said - principals over practicalities.....

[ignore it]

I'm having a tough month,

Can I get just 10k or 20k

until my check comes?

Edited July 7, 2023 by ignore it

[kingstonkid]

Find a loan shark oops person with reasonable interest rates. I am sure they can help you

[Grumpy one]

 

Let it go, or

Find a few souls who enjoy inflicting pain on others, they are out there so it won't be hard to find them

Offer them an incentive per broken bone, and wait.

One or 2 things will happen 

1 They get caught and end up in monkey cage

2 They drop you in it and you get to share said monkey cage

[chalawaan]

23 hours ago, Andyfez said:

Any recommendations for debt collectors in the Bangkok region? Lawyers and the court seem to be ineffective as the person concerned keeps dodging the bullet by changing address..

 

Before the sarcastic comments start, yes - I've been in Thailand 20 years, and know loans are considered gifts if they aren't backed up with a chanote or similar guarantee. I was prepared to lose this small loan, as I was helping them over a very difficult covid time (I have a signed contract). It wasn't big, but they now have a job and can afford to repay it. It was the way they walked away from the agreement that annoyed me..... 

 

Principals over practicalities in this instance.

It's always about the money. 

If it was the moral principle, an apology from them would do. 

I'm not saying you're wrong to want your pound of flesh, but let's call a spade a spade.

[CecilM]

Debt collectors are illegal. Things like this really shouldn’t be discussed in an expat forum. Police, lawyers, expenses, and persistence is the only reasonable advice.

[ignore it]

OK

So you after you get your money back or written it off consider this:

 

Some acquaintance (not somebody who I'd actually just give the money to) hits me up for a loan. Say they ask for 5k.  

I say ok, "Can you loan me 6k?"

They say, "I don't have any money!"

I say, " Then sorry i can't help you."

 

"If I loan you the money, when the time comes for you to pay me back, you probably won't. I'll have to come find you and if i find you, you're going to say, "I don't have any money!"

Our relationship is going to be over.

"So I'm not going to give you the money. You don't have it now and you won't have it when it's time to pay me back. Our relationship may be over now, but I've saved myself the BS of trying to get my money back, and writing to AN and getting more BS from the resident curmudgeons there."

[brianthainess]

50 minutes ago, kingstonkid said:

Find a loan shark oops person with reasonable interest rates. I am sure they can help you

Oh yes they can find anyone anywhere, believe me.

I know of 3 different women who they found, they were moving around all over the country. seems you know they are working, and possibly where. loan sharks threaten with violence, and guns. One millions in debt, then 'paid' an agent to work in Dubai, to escape them, never seen or heard of again.

Just let it go, you could end up being the one in trouble.

Edited July 7, 2023 by brianthainess

[The Theory]

1 hour ago, brianthainess said:

Just let it go, you could end up being the one in trouble.

It's true, 

I don't know about details and reason of giving loan without securing against....,

OP made his mistake and became soft when he shouldn't.be Now accept it as a good experience forever. 

[OneMoreFarang]

"Debt collectors - any recomendations?" is an interesting headline. I thought it was about how to avoid paying extraordinary interest rates to loan sharks.

 

But it seems you want to collect money. While I understand your principal, I would only consider doing this if it is about a lot of money, maybe a million THB or more. And then only if you have a reasonable chance to get any money.

Just the fact that you have a legal agreement, and the other person has money, is far away from you getting that money - not only in Thailand.

 

 

[The Theory]

On 7/6/2023 at 10:13 AM, Andyfez said:

I have a signed contract). It wasn't big,

Unless you want to take them to court base on the agreement. Still not worth the headache and legal costs since you mentioned that the loan was not big (not sure how small the loan was). 
I would not do such move it I were you. 

[FruitPudding]

On 7/6/2023 at 10:13 AM, Andyfez said:

It was the way they walked away from the agreement that annoyed me..... 

Mate, you said you've been here 20 years, what did you expect?

[IvorBiggun2]

https://www.juslaws.com/articles/debt-collection-law-in-thailand

[Lacessit]

3 hours ago, Andyfez said:

Yes. If I can.

As I already said - principals over practicalities.....

Principals are people who are the head of a school, principles are what some people have.

Some stand-over operators  buy a debt at a discount, then chase the debtor for the full amount plus interest and expenses. I don't know if the Thai mafia has a similar system.

Judging by what IvorBiggun2 has posted, I'd say collecting the debt without resorting to criminality is impossible.

[TimeMachine]

Forget it. Its gone.  I only loan out what Im prepared to lose. The person may intend to pay but what if they pass away in the time.  You lose your money anyway. Anybody who asks for a large sum that I want to help,  I offer a smaller amount i dont expect back. And if its not for anything important I have to suggest they go to a bank or go without.  Im done with emotions getting in the way with decision making.  Saying No, not enough to share around atm is ok. 

[Seeall]

3 hours ago, ignore it said:

I'm having a tough month,

Can I get just 10k or 20k

until my check comes?

nooo  you have to get with the plan!!!  you say ohh 100k for 1 week and I pay you back 120k ..... sure... ching ching mai goohock...  my friend......

[Seeall]

Just now, Seeall said:

nooo  you have to get with the plan!!!  you say ohh 100k for 1 week and I pay you back 120k ..... sure... ching ching mai goohock...  my friend......

farang the worse...

[gargamon]

4 hours ago, Andyfez said:

Yes. If I can.

As I already said - principals over practicalities.....

Ever heard the term “F___ You money“? Essentially when you have it you are no longer dependant on, for example, your boss. You have enough to walk away from your job and not be adversely affected.

 

The next level is “F___ You Very Much money“. Essentially if someone messes with you, you will do whatever it takes to make them regret it, regardless of the cost. No matter the cost, it won't affect you significantly.

 

So which category are you, FYM or FYVMM? 

[Yellowtail]

Do you have a court order?

 

Unless you are willing to put significant effort into getting the money back, it's pointless. 

 

If it's truly the principle and not the money, then just start costing them money. 

 

 

[Almer]

5 hours ago, OneMoreFarang said:

"Debt collectors - any recomendations?" is an interesting headline. I thought it was about how to avoid paying extraordinary interest rates to loan sharks.

 

But it seems you want to collect money. While I understand your principal, I would only consider doing this if it is about a lot of money, maybe a million THB or more. And then only if you have a reasonable chance to get any money.

Just the fact that you have a legal agreement, and the other person has money, is far away from you getting that money - not only in Thailand.

 

 

You will throw good after bad

[Yellowtail]

I ran a small loan racket at my work back in the '80s. I had two sayings: 

 

I don't charge my friends interest, but my friends don't borrow money from me, and you'll pay me or the doctor one!

 

Most everyone paid, and never got violent with anyone. I was not a tough guy, but I was big and looked pretty intimidating. What a crap business. 

 

 

[Almer]

I loaned 15000 to family and in return got the keys to a 6 month old Wave ( no book!!!!) that was 3 years ago, I assume that they are still paying for the wave, I have been using the bike for 3 years, 15,000 ÷1095 days = 14 baht a day plus the 15000 is still outstanding and if all else fails I will sell the bike engine and bits

[Yellowtail]

1 minute ago, Almer said:

I loaned 15000 to family and in return got the keys to a 6 month old Wave ( no book!!!!) that was 3 years ago, I assume that they are still paying for the wave, I have been using the bike for 3 years, 15,000 ÷1095 days = 14 baht a day plus the 15000 is still outstanding and if all else fails I will sell the bike engine and bits

I got a Suzuki DS100 for a $10 bag of weed I fronted to a chump. 

[NoDisplayName]

On 7/6/2023 at 10:13 AM, Andyfez said:

I was prepared to lose this small loan,

It's good you were prepared.

You've lost it.

Now move on.

[Bangel72]

Is your agreement legal?

Were you charging interest, anything above 15%?

Why did you lend them, what was your motivation?

 

Now if your a kind soul just helping someone out a lawyer can drop them a letter indicating action, not sure what action is possible or whether you can legally now report them for theft if they are in breach of contract but it can go with a lot of loss of face for the person. I doubt police would act depending on the amount. Could them being publicly dishonest and in effect stealing money damage their business or relationships that they value, loss of face and a compromise payment agreement might work.

 

The reputation angle is likely the only one without going a bit darker.

 

I've been that kind soul recently knowing its a pretty good chance I was just being a mug but they also have business reputation to protect that would cost more than repayment.

 

Different story if it turns out they cannot afford to pay, in thailand so called friends hounding friends to pay back money they know they cannot afford is pretty nasty, often better to just walk away or lower yourself and sell that kind soul of yours.

 

 

 

 

[Rimmer]

An inflammatory troll post has been removed

[The Old Bull]

Try selling the debt. You will lose a little on it but collecting will no longer be your problem.

[steven100]

send Joe Ferrari over .....  they'll soon cough up