Morning all, im hoping to get some advice on what to do to recover money that I loaned to a business owner.

I have loaned 200k to a local restaurant it’s an Indian restaurant with an Indian owner, we have been friends for quite a while so when the subject of me loaning him money came up I was ok with it and was happy to help, the loan is to be repaid in the following manner

12 monthly interest payments

13th month the 200k is paid back in lump sum.

I have a loan contract laying out the repayments etc this is signed by us both, the first 2 payments went fine, the 3rd payment was late and now the 4th payment is 10 days late and im just being told he will pay tomorrow etc but no payment forth coming.

On top of this loan he loaned 55k which was to buy stock, this is now also 10 days overdue, so at the moment im owed a fair bit of money, I have been promised that the payment of the 15k and the 55k will be transferred to my bank account today 30/1/2026…so let’s see if that happens or not.

So two questions

1. Can I ask for the original 200k to be paid back as it looks like he is going to default on the monthly payments ( I have a loan contract document for this loan)

2. . How could I recover the 55k loan which there is no paperwork for, all I have are download of the line chats regarding payments etc, I also have bank transfer slips to prove I loaned him the 55K

I know I have been to trusting by loaning out money but I didn’t expect to e in this situation I just need to know if I need to get a legal letter to him giving him a set date to repay the 55k loan and also can I ask for the 200k loan to be now paid In full if he’s defaulted on the monthly payments on that.

Have a read and use the professionals!

On 1/30/2026 at 12:01 PM, essex boys said:

have loaned 200k to a local restaurant it’s an Indian restaurant with an Indian owner, we have been friends for quite a while so when

Oh dear. Most restaurants fail in the first 12 months.

A friend in need is a pain in the butt... you'll end up losing your money and your friendship.... sorry 😔

On 1/30/2026 at 9:01 AM, essex boys said:

I also have bank transfer slips to prove I loaned him the 55K

That does not prove a loan, it just proves a payment or transfer the purpose of which could be various.

On 1/30/2026 at 9:01 AM, essex boys said:

Can I ask for the original 200k to be paid back as it looks like he is going to default on the monthly payments ( I have a loan contract document for this loan)

No, not because you think it looks like there will be a default. That is just speculation. The loan document should cover this, what does it say?

On 1/30/2026 at 9:01 AM, essex boys said:

On 1/30/2026 at 9:01 AM, essex boys said:

I have loaned 200k to a local restaurant it’s an Indian restaurant with an Indian owner,

Did you loan the money to the owner as an individual or to the restaurant as a business? What does the document say?

On 1/30/2026 at 12:01 PM, essex boys said:

recover money that I loaned to a business owner.

When in Thailand Rule #1, never, ever, ever loan money to a foreigner.

Spend (waste) your money on the beautiful Thai girls.

My girlfriend is worth ever penny.

55 minutes ago, SAFETY FIRST said:

When in Thailand Rule #1, never, ever, ever loan money to a foreigner.

Spend (waste) your money on the beautiful Thai girls.

My girlfriend is worth ever penny.

Safety I hate to ask but how old is she? She is very cute.

As to the OP, it amazes me that people with medical legal issues (non immigration) come here for advice on how to treat or solve a problem.

The closest we have for medical is @Sheryl, and her advice is usually the same: go see a doctor.

I donot know of any real legitimate lawyers here

My point is youhave alegal issue go see a friggin lawyer

medical go see a doctor.

It is reasonable to ask for recommendations as to who to see but to askus here to solve your probem is just inviting trolls lol

11 minutes ago, kingstonkid said:

My point is youhave alegal issue go see a friggin lawyer

medical go see a doctor.

If you need to collect money, usually it's two Thai guys wearing black and riding two up on a scooter that are the required 'professionals'.

2 minutes ago, BritManToo said:

If you need to collect money, usually it's two Thai guys wearing black and riding two up on a scooter that are the required 'professionals'.

Yeah but I thought we had to keep it legal here.

I was also going to suggest fire bombing

telling everyone he knows he is a welch or

shooting him

but was afraid OP would do one of them and say he wsa told to do it on AN

Besides who doyou think knows the best riders in black to carry it out

LOL

Hi I also lent to a friend who did not pay back , went to court and won . but no action by the court to force payment back , a compleate waste of money going to court and winning . Looks like you have to accept a loss of money , sorry

Living in Thailand and Learning in Thailand, so suck it up and file it as a lesson learned.

13 hours ago, petermik said:

A friend in need is a pain in the butt... you'll end up losing your money and your friendship.... sorry 😔

Is this money in Baht or US dollar?

As many of us know loaning money is a very tricky business, and I typically limit it to friends or relations that I know really well, that are incredibly reliable, and I always get paid back.

The problem with loaning people money is that many begin to resent you after a while because they owe you the money, which is sort of oxymoronic and anti-intuitive, but it happens.

My best advice for collecting money from someone who's not paying you back is to stay on them like white on rice, never leave it alone, never let more than a few days go by, and hound them to the point where you become intolerable and they have to pay you back, in order to get their life back.

I speak from experience and when I was finally paid back I was told that they didn't have a choice as I was making their life so uncomfortable that I was their daily preoccupation, you literally have to stay in their hair to that extent. It often works.

I read there are a couple of russians in the debt collection business.

Probably you have not heard the story between an Indian and a snake..

Take a page out of Shakespeare's Hamlet, "Never a lender nor a borrower be" buy the book and hit yourself on the head several times a day with it Doh !

Friend or not a loan of that size is a business transaction. Don't care if you're my friend you still have to prove to a certain level that you qualify for the loan and the risk is acceptable.

A loan is an agreement to repay and a calculated risk.

At this point your probably going to consider consulting with a lawyer about writing the demand letter for payment.

I see a post about contacting the debtor. Make sure you are aware of the laws only between 8 am and 8 pm weekdays, only once a day, you can't tell friends or employees.

Being a landlord I've been through the process enough that now I vet any applicants. The expense, time wasted, all the different notices, time, departments you have to deal with is not worth it to me.

No value posts removed.

Never loan money that you cannot convert to a gift.

It's like this. If a friend ask me for money and I can afford to loan them the money, I hope they will pay it back. #1 criteria is don't let the debt ruin the friendship or family bonds. If they cannot repay or can only pay a smaller amount. I forgive the loan in my head, never telling them that's what I've done. I just don't want them to be a stranger, but I never loan again.

To be honest I stopped reading when I got to 200K, not worth it!

Ok I did read on and your interest rate is illegal - move on

In general people that borrow money don't have the means to repay it.

Big mistake to make the loan in the first place. I fear it will not be recoverable.

Meet with your "friend" and tell him you did not sign up to be a bank / collection department. It is 2026 and child's play to open a banking app, and schedule a series of payments.
Keep it Simple:
State the problem. "You owe me money, you are not meeting our contract payments, I don't want this headache."
Offer the solution: "Sign onto your online banking account and use the feature that allows repeat payments, and even the balloon payment in 13 months"
Once that is done, if he misses a payment .. it means he had to open the app, and CANCEL the payment ... which means he knowingly stiffed you.
(I am from Boston, and the day he decides to to OFF the payment tool, there is going to be a PROBLEM.)

On 1/30/2026 at 3:01 AM, essex boys said:

Morning all, im hoping to get some advice on what to do to recover money that I loaned to a business owner.

I have loaned 200k to a local restaurant it’s an Indian restaurant with an Indian owner, we have been friends for quite a while so when the subject of me loaning him money came up I was ok with it and was happy to help, the loan is to be repaid in the following manner

12 monthly interest payments

13th month the 200k is paid back in lump sum.

I have a loan contract laying out the repayments etc this is signed by us both, the first 2 payments went fine, the 3rd payment was late and now the 4th payment is 10 days late and im just being told he will pay tomorrow etc but no payment forth coming.

On top of this loan he loaned 55k which was to buy stock, this is now also 10 days overdue, so at the moment im owed a fair bit of money, I have been promised that the payment of the 15k and the 55k will be transferred to my bank account today 30/1/2026…so let’s see if that happens or not.

So two questions

1. Can I ask for the original 200k to be paid back as it looks like he is going to default on the monthly payments ( I have a loan contract document for this loan)

2. . How could I recover the 55k loan which there is no paperwork for, all I have are download of the line chats regarding payments etc, I also have bank transfer slips to prove I loaned him the 55K

I know I have been to trusting by loaning out money but I didn’t expect to e in this situation I just need to know if I need to get a legal letter to him giving him a set date to repay the 55k loan and also can I ask for the 200k loan to be now paid In full if he’s defaulted on the monthly payments on that.

My experiences...

1) You need to get stamps fon the loan agreement to be legal.

2) The agreed interest must not exceed 15% p.a.

3) Loan agreement shall preferably have been signed by two witnesses to confirm signatures

4) You'll need to file a civil case court case through a lawyer, which often require a deposit for costs and cout fee, both to be paid upfront.

5) If you win the case, the cort fee will be paid back, don't expect lawer's fee to be included in any judgement. After that you can begin action with bailiff and attachment of property.

I've won a case, but I didn't get more money than one installment of a number, promised in the court. Instead I got access to a small plot of farm land, which low-status title deed was offered as security...

An alternative methos – ofted used in Thailand – is a private loan collecter that can have extremely convincing persuasion that the debtor wants to pay (I dare not use the method, probably works best if yo are Thai)...

Best way between foreigners is often to find an ammicable solution. Try if a discount on interest or balance might work attractive for a fast full payment of remaining debt – then count your loss and be wiser next time a freind asks for a loan...

Rule me 1 here. Never lend money

If you lend they

Think it is a gift

5 hours ago, BritManToo said:

If you need to collect money, usually it's two Thai guys wearing black and riding two up on a scooter that are the required 'professionals'.

You forgot the 4 back-up scooters, each riding 2 up, wearing helmets & wielding machetes.

2 Thais is waaaaaaaay not enuff.🙃🙃

If he's still in business you'll just have to go and eat 255,000+ of his food and charge him for the extra deodorant to keep you smelling like a handsome man.

3 hours ago, The Fat Controller said:

If he's still in business you'll just have to go and eat 255,000+ of his food and charge him for the extra deodorant to keep you smelling like a handsome man.

Go eat there 7 days a week for lunch and dinner. Good idea.

Fellow foreigner or Thai family, It rarely happens , but I don't discriminate, my standard answer is always ," I would if I had it, but I simply don't have that sort of money". I get a few funny looks, especially if they only wanted to borrow 500 baht but so be it ,

To be honest there are a couple of close friends here who I trust implicitly and would not hesitate to help them out if they needed it , but the reality is they are the last people who would ever need or indeed ask to borrow money from me ,

The rest of people I don't get that familiar with, so they would be uncomfortable asking and I would be perfectly comfortable saying no

When it comes to Thais, again I try to choose my mates wisely and have never been asked That just leaves family and the occasional opportunist neighbour .

I noticed years ago when with the ex mrs , that when "friends and family" were on the scrounge they never asked me, they always asked her, and it was always when I was not around. So at my request, her standard reply if asked for a loan was "I don't know you'll have to ask him yourself" few ever did , but on the rare occasion it happened, they received my standard reply in Thai and that was the end of it .

Its never happened here with my current mrs , although years ago an aunt of hers wanted to borrow a small amount for reasons I can't remember, anyway she caught me off guard and I agreed to loan her 5000 bt but I told her I don't have it here at the moment I'll have to go to the bank in the morning so come back tomorrow around lunchtime

I nipped to the bank first thing and had the cash waiting for her , but she never showed up, in fact she never spoke to me again, presumably took it as a refusal and felt she'd lost face i'm guessing.