Uk Debt In Thailand

[MaeRimMan]

Thank you, doctor

[solo siam]

Thank you, doctor

No problem, I previously suffered myself with this for many years - It does go away, but not on its own.

[Upcountry]

Yet another reason why "farang" here get a bad name. Why does Thailand seem like a place someone can "run away" to in the 21st century to escape problems and responsibilities back home?

The news tells us that the dark star of Burma cannot not hide as well as it used to thanks to modern technology. Even the regime's banning of certain people's mobile phones will not stop the increased light into that horrible place.

I've been in debt before. The only cure is to reduce expenses, increase income, leverage interest rates (consolidation, or transfer to lower rate cards/loans, etc.) and maximum payback until debt-free. Then one can work to build up credit again. There's no other way around it for the future, peace of mind, etc.

Either that or squirm away under a straw roof.

[MaeRimMan]

I 'ran away' to Thailand because my wife is Thai, my children are half-halves and my wifes side of my extended family are here. I can't see how that gives Farang a bad name - i should be able to be here as of right and I would be if i didnt have big eyes.

[Maigo6]

i should be able to be here as of right and I would be if i didnt have big eyes.

Your bad UK debts won't get you sent to Jail in Thailand, but what will you do when you're money runs out in Thailand?

As I mentioned in a previous post, you have nothing to fear in UK, The UK Prison Service is unbelievably good to guests, and if you have first convictions of the non sexual or violent or anti-social kind, you're ok. Fraud for example.... you can expect a Catagory D accomodation within 6 weeks of conviction.

Example, HMP FORD in Arundel West Sussex, beautiful scenic setting, Cricket pitch, Bowling green, Football pitch, Cinema, your own room ( with key), great food and an immediate welcome back into the Social Security System.

Come out, sign on, get all the assistance you need, get an housing association house or flat, rent it out, go on the sick with a bad back and stay in Thailand forever, collecting your money via ATM in Thailand.

You wouldn't be the first, and you won't be the last.

Edited September 17, 2007 by Maigo6

[Goshawk]

i should be able to be here as of right and I would be if i didnt have big eyes.

Your bad UK debts won't get you sent to Jail in Thailand, but what will you do when you're money runs out in Thailand?

As I mentioned in a previous post, you have nothing to fear in UK, The UK Prison Service is unbelievably good to guests, and if you have first convictions of the non sexual or violent or anti-social kind, you're ok. Fraud for example.... you can expect a Catagory D accomodation within 6 weeks of conviction.

Example, HMP FORD in Arundel West Sussex, beautiful scenic setting, Cricket pitch, Bowling green, Football pitch, Cinema, your own room ( with key), great food and an immediate welcome back into the Social Security System.

Come out, sign on, get all the assistance you need, get an housing association house or flat, rent it out, go on the sick with a bad back and stay in Thailand forever, collecting your money via ATM in Thailand.

You wouldn't be the first, and you won't be the last.

With a bit of luck, you could even be 'booked' into the fine HMP Lindholme. Where the pace is gentle and if you look up to the sky, you can lament at the airliners flying in & out of Robin Hood Airport (former RAF Finningley) with the warm thought :

that'll be me again, soon...

[aka_jack]

From what i have heard off a few people in this postion is there is not much to worry about over here as long as you have not lied on any of your applications back home you can not be done for fraud because you haven't lied to get these credit cards or loans and as long as you have made some payments on these they cannot prove you had no intentions of paying them back!!. As for bankruptcy after a year or so you will be defaulted on your payments and contract cancelled which is when it go's on your credit history and stays there for 5 or 6 years i think, and then is handed to the baliffs/collection agency!! And i dont know if they can sell the debt to a thai company but would think it was a bit out of there juristiction( spelling??).

[Maigo6]

With a bit of luck, you could even be 'booked' into the fine HMP Lindholme. Where the pace is gentle and if you look up to the sky, you can lament at the airliners flying in & out of Robin Hood Airport (former RAF Finningley) with the warm thought :

that'll be me again, soon...

Goshawk,

Lindholme is a Cat C and IRC Prison , Ford is a Cat D Prison without Immigrants, even easier......but either accomodation will do on a rainy night.

[Lucifer]

I 'ran away' to Thailand because my wife is Thai, my children are half-halves and my wifes side of my extended family are here. I can't see how that gives Farang a bad name - i should be able to be here as of right and I would be if i didnt have big eyes.

That doesn't give you the right to pollute Thailand.

Fancy calling your children ''half-halves''. Prat.

[Maigo6]

From what i have heard off a few people in this postion is there is not much to worry about over here as long as you have not lied on any of your applications back home you can not be done for fraud because you haven't lied to get these credit cards or loans and as long as you have made some payments on these they cannot prove you had no intentions of paying them back!!

Jack, you are more or less right mate.

[Dave the Dude]

For a 3rd party to be interested in your debt it has to be quite a big amount. As far as I understand they buy your debt penny for dollar so to speak and they get to keep whatever they collect after buying the debt.

Seems to me you would be safest in UK if a thai party has bought your debt because in UK they won't bother anymore once they've sold it to a 3rd party.

Personally I think somebody try to scare you and the whole story is <deleted>

As an ex-bank Manager, I would agree with the above,especially the last para. Two thoughts :- 1) offer a small repayment amount to all parties and start to repay them. that will slow the inevitable process down. 2) go bankrupt, after about 6>9 months in the Uk, its wiped off and you can re-apply for cr cards/loans ect BUT dont be a pr@t a second time

[Maigo6]

With a bit of luck, you could even be 'booked' into the fine HMP Lindholme. Where the pace is gentle and if you look up to the sky, you can lament at the airliners flying in & out of Robin Hood Airport (former RAF Finningley) with the warm thought :

that'll be me again, soon...

Goshawk,

Lindholme is a Cat C and IRC Prison , Ford is a Cat D Prison without Immigrants, even easier......but either accomodation will do on a rainy night.

Goshawk...

Of course, I'm not saying that HMP Lindholme is not a fine Establishment with excellent accomodations and fine cuisine, especially if you're friendly with the guy who dishes out the chips...

Then again, HMP Ford has an excellent reputation, with first class accomodation and an excellent bufffet service. Although, I happen to know in Ford one has to wait a few weeks before being given the key to a private room, a major inconvenience to many, but considering the very cheap rates, it's acceptable. The crown green bowling green is a major draw, it kinda competes with the table tennis, the gym and the basketball area, but I always prefered bowling.

[howtoescape]

The way it works is the bank sells the debt to the debt collector after 5-7 years he doesnt get the money he sells the debt back to the bank who in turn writes it off to tax.

There is no way a UK debt collector could sell this to a Thai company, there'd be tens of thousands of Thai agencies chasing farangs and <deleted> knows what would happen to them when caught.

Its the banks fault for loaning so much money to people who cant pay back, for pure greed, and they are now feeling the pinch and honest folk who pay their debts are suffering with higher interest rates.

My mother doesnt work and one morning a credit card with 20,000 pound on arrived through the door that she never asked for, fortunately for my dad she cut it up.

Go back to England go bankrupt, you will be out of bankruptcy after 9 months, you dont have anything so they cant take what you dont have off you.

There was an article in one of the broadsheets about city flyers getting 250-500k worth of debt and declaring bankruptcy, a nice little scam.

[Carmine6]

Hi everyone,

New to ThaiVisa and I'm hoping someone can help me. I came here in 2005 with my (Thai) wife after years working in UK. I gradually accululated a sea of debt and we decided to 'run away' to thailand. We have no assets in Uk. Everything was OK-I was prepared that I would get a CCJ (county Court judgement) against me and possible bancruptcy. Now I have been advised that my creditors might try to 'sell' my debts to a Thai debt collecting agency. Some of the debt was accumulated in thailand, though with UK companies- so they could probably trace me to here if they wanted to.

Does anyone have experience of 'debt sale' happening, or can anyone reassure me that it wont happen. Secondly, all the debts are in my name, but if sold to a Thai agency, could my wife become embroiled?

Obviously I'm extremely worried about what might happen if a Thai company got hold of the debt- I assume they do not operate with the same niceties as the UK system.

Any advice that anyone can offer would be much appreciated

Thanks!

The wrinkle in your situation as opposed to most who've run away, is you've been in Thailand for several years. Most who've left debt behind incurred it basically while residing at home. It may not in the end make any difference.

The reason I point it out is the centuries of empire building with British citizens being in far flung regions. There could in fact be some old law allowing selling of debt to a local collector for debt incurred overseas but with a British bank. Although even if such a law exists, that wouldn't mean its a legal obligation in Thailand unless there were some kind of treaty, but debt collectors are harassers and don't need the force of law. I don't know of any such law, but the UK seems to have some old laws that surface from time to time so that may be worth inquiring about.

[mark100]

Hi everyone,

New to ThaiVisa and I'm hoping someone can help me. I came here in 2005 with my (Thai) wife after years working in UK. I gradually accululated a sea of debt and we decided to 'run away' to thailand. We have no assets in Uk. Everything was OK-I was prepared that I would get a CCJ (county Court judgement) against me and possible bancruptcy. Now I have been advised that my creditors might try to 'sell' my debts to a Thai debt collecting agency. Some of the debt was accumulated in thailand, though with UK companies- so they could probably trace me to here if they wanted to.

Does anyone have experience of 'debt sale' happening, or can anyone reassure me that it wont happen. Secondly, all the debts are in my name, but if sold to a Thai agency, could my wife become embroiled?

Obviously I'm extremely worried about what might happen if a Thai company got hold of the debt- I assume they do not operate with the same niceties as the UK system.

Any advice that anyone can offer would be much appreciated

Thanks!

Never heard of anyone having debts follow them overseas, especially for the amounts you are talking about.

lf it was fraud then you would have a problem, personal debts l can't see it. How would they legally enforce it over here??

A friend of mine was pursued by the VAT man a few years ago, he ended up paying it, but for personal debts to private companies l really can't see you having any problems.

[esbobes]

Be worried and pay your debts.

Remember the wages of sin in death.

Go to Church this weekend to pray to God for protection

[AlbertTatlockDeceased]

For a 3rd party to be interested in your debt it has to be quite a big amount. As far as I understand they buy your debt penny for dollar so to speak and they get to keep whatever they collect after buying the debt.

Seems to me you would be safest in UK if a thai party has bought your debt because in UK they won't bother anymore once they've sold it to a 3rd party.

Personally I think somebody try to scare you and the whole story is <deleted>

Absolutly agree,.utter rubbish,.

Agree too, Thais have enough debts of their own to collect without chasing Farangs, keep your head down and it will probably all blow over. Credit card debt is not a crime anyway, even here!

Nice Avitar by the way Mike! Where are you these days Gary..."Do you wanna be in my gang my gang my gang.."..erm...no thanks!

[AlbertTatlockDeceased]

Be worried and pay your debts.

Remember the wages of sin in death.

Go to Church this weekend to pray to God for protection

No need to go to church- simply drop in to the local temple-pay the pra-buy some "boen" and hey presto!

[AlbertTatlockDeceased]

And, as a test case, just watch how EASY it is when they try and get Thaksin back!

I reckon he owes a bit more than you, I wouldn't worry, 80K is probably not worth the hassle.

[Naam]

Be worried and pay your debts.

Remember the wages of sin in death.

Go to Church this weekend to pray to God for protection

stop eating meat and become a vegetarian

[AlbertTatlockDeceased]

Be worried and pay your debts.

Remember the wages of sin in death.

Go to Church this weekend to pray to God for protection

stop eating meat and become a vegetarian

Nay My Son! A VEGAN!

[AlbertTatlockDeceased]

Does Eric Bahrt have credit card debts?

I Think not...sorry got nothing better to do this morning.

[teacup]

It depends on who you have the debt with. Many companies nowadays have affiliates overseas, and it's much harder to "run" away from a debt now.

Running away from your debt is the same as stealing money!

[ThaiPauly]

In many ways I sympathise with the OP.

Although I am not saying what he has done is right, but.....

The main lenders bend over backwards to provide loans to people that cannot repay them, as far as I am aware they also know this, but are prepared to take the risk that they won't get paid, they have a bad debt provision in their budget the same way most businesses do.

When I had my company in the UK we would sometimes sell avertising space to companies which we knew could be high risk, sometimes we got paid and sometimes we did not, but that was "Our" risk and we knew what we were doing.

Most companies factor in something like 3% which is what I used to do. I employed a debt collection agency ,but if they could not get it, it could not be got, court baliffs NEVER colected a penny after we got judgement in court, so we just stopped taking people to court, it was just good money after bad.

You have to be seen to be chasing people otherwise you get a reputation as a "soft touch", but at the end of the day you cannot get blood out of a stone, if the debt collection agencies don't work the just forgedaboutit

I really can't see them chasing you to Thailand, I know of one person who owes 4 times what you owe to a big card company,they have not attempted to find him...they could if they wanted to, you can easily google his name and up it pops, so I really can't see them bothering about 80k

Get your health sorted out, thats the first thing to do and then see where you go.

TP

[andy1308]

My non-professional advice to the OP is to declare bankruptcy. You can only do this whilst physically in the UK and it costs about 500 quid in total. You can expect some tough questions about the reasons why you got into that situation, but so long as you've done nothing illegal then you'll be okay. The courts understand that situations in life change, although they will need to ensure they get the best possible outcome for your creditors. Any assets will need to be accounted for and might possibly seized.

After one year your bankruptcy will, in 90% of cases, be discharged although the fact you were bankrupt will stay on your credit record for six years. You can still get credit in the UK as an undischarged bankrupt but you'll pay a lot more for it. The other thing to remember is that declaring bankrupcy prohibits you from doing certain things, including being a company director and a MP.

Strange as it might seem, here in Thailand there are no checks made on the previous credit history of those applying for finance here. I personally know someone who declared bankruptcy in the UK, came here and within a year had credit cards with limits approaching 500,000 baht in total. That's actually illegal under UK law because you must inform anyone with whom you are applying for credit of your situation whilst bankrupt, however I am not sure what action can be taken if that person remains in Thailand and those in the UK are not aware of what he or she is doing here.

You should take some professional advice, but in general it seems anyone with little income and debts over 15,000 is being advised to declare bankruptcy whilst it is still an 'easy' option. Good luck.

[jaiyenyen]

With a bit of luck, you could even be 'booked' into the fine HMP Lindholme. Where the pace is gentle and if you look up to the sky, you can lament at the airliners flying in & out of Robin Hood Airport (former RAF Finningley) with the warm thought :

that'll be me again, soon...

Goshawk,

Lindholme is a Cat C and IRC Prison , Ford is a Cat D Prison without Immigrants, even easier......but either accomodation will do on a rainy night.

Goshawk...

Of course, I'm not saying that HMP Lindholme is not a fine Establishment with excellent accomodations and fine cuisine, especially if you're friendly with the guy who dishes out the chips...

Then again, HMP Ford has an excellent reputation, with first class accomodation and an excellent bufffet service. Although, I happen to know in Ford one has to wait a few weeks before being given the key to a private room, a major inconvenience to many, but considering the very cheap rates, it's acceptable. The crown green bowling green is a major draw, it kinda competes with the table tennis, the gym and the basketball area, but I always prefered bowling.

But is it safe to pick up the soap in any of these establishments

[Maigo6]

But is it safe to pick up the soap in any of these establishments

Yes sweetheart.

[Prakanong]

Hi everyone,

New to ThaiVisa and I'm hoping someone can help me. I came here in 2005 with my (Thai) wife after years working in UK. I gradually accululated a sea of debt and we decided to 'run away' to thailand. We have no assets in Uk. Everything was OK-I was prepared that I would get a CCJ (county Court judgement) against me and possible bancruptcy. Now I have been advised that my creditors might try to 'sell' my debts to a Thai debt collecting agency. Some of the debt was accumulated in thailand, though with UK companies- so they could probably trace me to here if they wanted to.

Does anyone have experience of 'debt sale' happening, or can anyone reassure me that it wont happen. Secondly, all the debts are in my name, but if sold to a Thai agency, could my wife become embroiled?

Obviously I'm extremely worried about what might happen if a Thai company got hold of the debt- I assume they do not operate with the same niceties as the UK system.

Any advice that anyone can offer would be much appreciated

Thanks!

known many people over the years oweing money in uk living in thailand ,a few ran up huge debts here with there credit cards issued in uk ,never heard of any bank or debt collecting agency selling to a thai company ,after 2 years you would be made bankrupt or the debt would be in a sleepr account ,deem dead ,only if you applied for credit in the uk it would get ressurected ,i dont think you have to worry unless it was for millions of pounds..........

I bet the number of guys who have borrowed money in the UK and done a runner to Thailand is in the hundreds if not thousands - certainly if you include CC's.

I know of a couple and as far as I know they were never pursued to Thailand for their debts.

[Prakanong]

"Strange as it might seem, here in Thailand there are no checks made on the previous credit history of those applying for finance here. I personally know someone who declared bankruptcy in the UK, came here and within a year had credit cards with limits approaching 500,000 baht in total"

Never mind Thailand - I can name a couple of 1st world countries with excellent banking systems who do no credit checks back in the UK.

I know a guy with a very distinctive name who has CC's from Mastercard, Amex etc in these 1st world places with unpaid debt not to ol back in the UK with the same companies - I did not beleive him at first but was assured by someone else its true.

[garro]

i have been receiving treatment for my panic disorder: Suan Prung is a great hospital and they've helped a lot. I'm OK as long as i live stress free- which is why I came back to this country. you are correct in saying I've had my head buried in the sand. I need to do something about it, but £8,000 is beyond my means.

Poor you.

The only people who get a stress free life are the guilt-free and the heavily sedated.

Spending the rest of my life looking over my shoulder certainly would keep me anxious.

Just my view.