19 hours ago, scorecard said:

 

But often true in Thailand.

Total non payment of loans is very common in Thiland , and the rational is that 'I believe the money you gave me was a gift, not assocated with a loan. 

 

My Thai son was appraoched by a Thai boy in his uni class asking for a 5,000Baht loan. My son discussed it with me saying 'he's a nice guy, a good friend and he helps me and others a bit with some assignments, and I think he really needs the money. We discussed payback over 7 years'.

 

At about 9 years, with no repayments, and debtor now working in a good well paying job, driving expensive car, son politely asked 'when are you going to start making repayments on the 5,000Baht I loaned you?' Response 'If you really expect me to make any repayments you're not a nice friend, I'm not going to make any repayments ever and I'm not talking to you ever again. 

That is a reflection of one Thai person, not a national rationale.  Waiting for nine years before asking for repayment is a bit odd.

7 hours ago, rockyysdt said:

 

If bankruptcy is not possible, would it be jail time?

No.  The lender could sue him for the outstanding, that's all.

7 hours ago, rockyysdt said:

I have seen the loan details from a bank statement.

It indicated the total currently owed and included the Thai in question.

For privacy I won't disclose the bank, but it's a Thai Cooperative.

 

Having said that, who knows how much is hidden.

"...who knows how much is hidden".

Meaning what (if you've seen the loan statement)?  It seems to be a legitimate loan/financing agreement so there will be a contract that he signed initially -  what are you suggesting is being hidden from him?

7 hours ago, rockyysdt said:

I have seen the loan details from a bank statement.

It indicated the total currently owed and included the Thai in question.

For privacy I won't disclose the bank, but it's a Thai Cooperative.

 

Having said that, who knows how much is hidden.

 

The 2025 version of this bike currently retails for 350,000b.

The amount outstanding is higher, probably representing interest.

The purchase was a thoughtless act during a time living with depression.

There's now regret.

 

If he surrenders the bike, it's possible it will be liquidated at auction for pennies leading to a greater loss.

As the bikes title has a caveat he can't sell it himself.

 

I thought he could try to deal with the Motorcycle Dealer who could get a good commission on the sale, and realise a substantial amount to go towards the loan. 

 

If bankruptcy is not possible, would it be jail time?

Things don't add up here.

 

You say the 2025 version of the bike is now 350 000b.

 

That's obviously a higher price that he paid. 

 

Bank interest rates in Thailand are generally around 5%.

 

The bike is now, in your estimation, worth 150 000. Likely around 2 years old or older.

 

The loan is as old as the bike so let's say 2 years.

 

By my calculations the original loan plus 2 years interest is in the region of the current amount owed. 

 

That means he's not paid any installments on the loan in over 2 years.

 

Six months is generally the most a loan would be allowed to be defaulted on. 

 

There could be more to this loan than meets the eye.

38 minutes ago, Liverpool Lou said:

That is a reflection of one Thai person, not a national rationale.  Waiting for nine years before asking for repayment is a bit odd.

 

Not as odd as still not bothering to repay after nine years.

 

Honour your commitments, gents. 

1 hour ago, Liverpool Lou said:

Nonsense, it was a huge over-generalisation verging on  just another Thai-bash.

 

Go and report then, see if your right. 

Yawn. 

 

He should simply tell the bank, it's not going to get paid off, and if they null and void the loan, he'll give them the MC back to sell.

 

They really have no recourse, since he has no assets, and assuming no real wages to garnish (more than 20k a month).  That could only be done after civil case filed & won, again, not worth their hassle or expense.  Depending how much he already paid, plus value sold, they may be happy with that, even break even if lucky.   

 

Their alternative is, 'catch me if you can', and you'll get nothing.   May be surprised that they'll agree, after crying the blues or threatening him with civil suit.   Which in reality, even if they win, is worthless, and simply costs them more money.

 

He'll need to have a set, while talking to them, so they realize, he knows, it's a lose lose for them, just how much more are they willing to.

2 hours ago, Liverpool Lou said:

How can you "guarantee" that without knowing anything about the bike? 

Can you "guarantee" the OP's current valuation?

What was the amount he borrowed/financed, can you guarantee that figure also?

Over what term was the loan taken out?  

 

 

Not great on understanding finance are you.

Just now, hotandsticky said:

Not great on understanding finance are you.

You'd be surprised about my experience of financing and banking.  Which particular point are you disparaging?

1 hour ago, youreavinalaff said:

By my calculations the original loan plus 2 years interest is in the region of the current amount owed.

The debt would be the loan amount plus all the interest for the agreed term of the financing, not just the interest for the period of time that has passed since the purchase.

16 minutes ago, Liverpool Lou said:

The debt would be the loan amount plus all the interest for the agreed term of the financing, not just the interest for the period of time that has passed since the purchase.

 

 

Not if you have an earlier settlement date

11 hours ago, tubby johnson said:

 

Not as odd as still not bothering to repay after nine years.

 

Honour your commitments, gents. 

Yes my Thai son waited a long time, the 'factor' which prompted him to mention repayment was that he discovered the borrower owed money to many other people (all to do with football gambling).  Son knew that non repayment of loans was common but decided to try his luck. Why not?

15 hours ago, youreavinalaff said:

Things don't add up here.

 

 

 

I don't know the age of the bike nor what was actually initially borrowed, nor how old the loan is.

 

By googling I found that the 2025 version of the bike is advertised at 350,000b

 

The recovery figure of 150,000b is a guess I made, based on the fact that it's now used, that if repossessed the owner doesn't have any say in a possible auction process, and any sale price will be governed by the market, not its reasonable value.

 

My valuation was a worst case scenario guess.

16 hours ago, Liverpool Lou said:

"...who knows how much is hidden".

Meaning what (if you've seen the loan statement)?  It seems to be a legitimate loan/financing agreement so there will be a contract that he signed initially -  what are you suggesting is being hidden from him?

No, I'm suggesting what is being hidden from me.

On 10/7/2025 at 1:19 AM, rockyysdt said:

I have seen the loan details from a bank statement.

No, you've seen a document.  No guarantee that document is authentic. 

 

On 10/7/2025 at 1:19 AM, rockyysdt said:

If he surrenders the bike,

Would "he" be your Thai gf's "brother?"    If not, why is any of it your business? 

 

No mention of his employment.  Does he have a job? 

12 hours ago, KhunHeineken said:

Would "he" be your Thai gf's "brother?"    If not, why is any of it your business? 

 

 

Does this make a difference to his legal situation?

 

PS: I find LEO goes down better.  🙂