Money Lending

[semper48]

I have noticed a few forms of money lending in the Thai community in Farangland and also in Thailand. There seems to be a very structured and organized way of going about lending and borrowing money outside the bank system. I have heard of interest rates from 10 % a month up to 1% a day (and the interest is paid daily).

Are there any posts on this matter? Can somebody tell me how it works?

[TheWalkingMan]

Thinking of joining the 'hot money banking community'? Where's your charter?

I see that you spend time in Khon Kaen and I have heard that there are rumors of one hot money guy grossing 200k baht per month on interest alone in one of the suburbs there. This guy is charging 20 points so he has lent out about 1 million baht. Of course he has to pay his collection team from the proceeds.

Simple system - Money goes out and interest is paid at a predetermined rate and schedule. The principle is returned at a predetermined time also. If the principle is not returned, a couple of things could happen: another interest payment or the loaner could demand immediate payment which could require the borrower to sell something to raise quick cash.

TheWalkingMan

[Heng]

It's indeed pretty simple.

And I can certainly confirm that Einstein was right.