Credit Card Debt

[dsfbrit]

A friend of mine has a new girlfriend who has some money problems. She says she had a clothing shop which went bust owing 300,000 baht on a credit card.

She says she needs 30000 baht a month to clear this debt off and wants my friend to pay.

The story gets worse. She says this is the reason she has to work in a bar (yes we can all smell a con here, but he is my best friend and I am trying to help him).

I would like to know if the situation in Thailand is similar to my native country England, where this kind of debt can be restructured in some way if there is hardship.

If this is a persoal debt (ie: she did not have a limited company), would she be able to go and speak to the credit card company, explain she cannot pay and restructure the loan in some way.

She has a car worth 600,000 Baht (not sure how much she owes on this) and a house (not sure of the value of this), could this used to restructure the loan. My initial thought is sell the car and the debt is gone isn't it!!

If she had a limited company and the credit card was in her name I suspect the debt would be a part of the company bankrupcy and not really an issue. Is this correct in Thailand.

Any advice would be appreciated, as my friend is eager to help this girl and I am eager to prove that she does not need 30000 baht a month.

By the way, I am NOT a Troll - check out my other posts - I cannot believe he is planning to do this. She has been proven to have lied on other issues, however love is blind it seems.

Thanks for your help

[torrenova]

Firstly, unless she is rich and I mean earning many millions a year, then no way would she have a Bt300,000 line of credit. I have a friend here, working years and earning perhaps 4-5m per year and his credit limit is around Bt150k.

The normal repayment is 10% so on this ficticious 300k, it would be 30k per month.

Now I have businesses but they are not on a credit card. You cannot do that. All you can do is borrow money from a credit card and I am not sure what percentage of the credit limit Thai cards allow. I doubt 100%.

It stinks to high heaven. tell your friend to cut her loose and she can get back on the game to service whatever needs she has.

[GungaDin]

Firstly, unless she is rich and I mean earning many millions a year, then no way would she have a Bt300,000 line of credit. I have a friend here, working years and earning perhaps 4-5m per year and his credit limit is around Bt150k.

The normal repayment is 10% so on this ficticious 300k, it would be 30k per month.

Now I have businesses but they are not on a credit card. You cannot do that. All you can do is borrow money from a credit card and I am not sure what percentage of the credit limit Thai cards allow. I doubt 100%.

It stinks to high heaven. tell your friend to cut her loose and she can get back on the game to service whatever needs she has.

Agreed, this is a con. Unless she can prove ownership of the car and it's free of debt, your mate should dump this deadbeat beauty, poste haste!

[dsfbrit]

Firstly, unless she is rich and I mean earning many millions a year, then no way would she have a Bt300,000 line of credit. I have a friend here, working years and earning perhaps 4-5m per year and his credit limit is around Bt150k.

The normal repayment is 10% so on this ficticious 300k, it would be 30k per month.

Now I have businesses but they are not on a credit card. You cannot do that. All you can do is borrow money from a credit card and I am not sure what percentage of the credit limit Thai cards allow. I doubt 100%.

It stinks to high heaven. tell your friend to cut her loose and she can get back on the game to service whatever needs she has.

Agreed, this is a con. Unless she can prove ownership of the car and it's free of debt, your mate should dump this deadbeat beauty, poste haste!

It makes you want to weep doesn't it - he is usually so level headed as well!!!

I have suggested she sell the car, but if there is not enough equity in the car to cover 300,000 baht - can she restructure the loan??? Ask for the payments to be made ove 10 years say at around 3000 baht or something like that???

[dr_Pat_Pong]

Forget her. A classic con artist.

[torrenova]

I doubt ther is a Bt300,000 debt. If there is, it will be secured on something. Maybe it is the outstanding balance on her car and there never was a bust business.

The more I think about it, I don't see how she could go bust for 300k on a clothing store. The numbers don't add up.

Get your friend out of it ASAP.

[NordicMan]

A friend of mine has a new girlfriend who has some money problems. She says she had a clothing shop which went bust owing 300,000 baht on a credit card.

She says she needs 30000 baht a month to clear this debt off and wants my friend to pay.

The story gets worse. She says this is the reason she has to work in a bar (yes we can all smell a con here, but he is my best friend and I am trying to help him).

....

How could she run up 300k debt on a credit card while running her store? She means that she used the credit card to purchase the goods and pay for bills?

As someone else points out here, she wouldn't even get a 300k line of credit on her card, unless she was financially very well off in the first place.

Yes, you are right, it smells of a con

If it was me, I would ask the girl to document the details of this. I would want to see the credit card agreements, the transaction history etc. before I would believe it. If she couldn't be bothered to show me this - too much hassle, don't like to be interrogated - I wouldn't be bothered to pay it off either. If she expects me to part with my hard earned cash, I expect her to show me effort as well.

If she couldn't convince me to pay off her debt, I would dump her. That is, because I would not want a gf who I could not trust, or a gf in dire financial difficulties who did not have, or try to make, a plan to take care of it.

cheers

nm

[GungaDin]

If it was me, I would ask the girl to document the details of this. I would want to see the credit card agreements, the transaction history etc. before I would believe it. If she couldn't be bothered to show me this - too much hassle, don't like to be interrogated - I wouldn't be bothered to pay it off either. If she expects me to part with my hard earned cash, I expect her to show me effort as well.

Exactly. Get your "best friend" to take ALL the docs to someone like Sunbelt or a similar co for verification, whatever it costs it will be cheap.

I'll bet the ranch she has no docs to back up her story.

A few years ago a friend and I tried to help a lass with her "mortgage arrears" when push came to shove, nothing was produced. It was a con. I dumped her on 9.11.01.

Get your mate to read this forum thread/topic, regardless. He may wake up, who knows.

[dsfbrit]

The proof of debt is a good idea. The trouble is this, yes it gets worse, she lives in Koh Samui and he has gone back to the UK and is not back for a couple of months. Yes I know what you are going to say, what a *****. His is a classic tale and he knows it, but is STILL considering sending the money

So getting the info is not as easy as it seems. I live in Pattaya and am not sure I would want to go into that bar again anyway!

I have contacted a private detective agency, do not know what good that will do. Thought we could at least check out the story of the shop and her background. She has several different stories about her parents and the fact she left her former boyfriend because she cannot have kids - then says she wants kids with my friend.

Maybe its time to get a new best mate - would be easier in the long term if he is going to get involved with this con artist!!!

On a practical note, can she restructure the 'loan' in any way - I am trying to get his so-called required monthly amount down from 30,000 baht to at least stop him sending 30000 baht a month if he does get sucked in!!!

[Chang_paarp]

At 3000B/month she is not asking a lot, less than US$100 but it is a classic bar girl story. She would need 10 or more sponsors to cover such a large debt.

[GungaDin]

^^^^^ read it again, it's 30,000 a month.

[NordicMan]

The proof of debt is a good idea. The trouble is this, yes it gets worse, she lives in Koh Samui and he has gone back to the UK and is not back for a couple of months. Yes I know what you are going to say, what a *****. His is a classic tale and he knows it, but is STILL considering sending the money

So getting the info is not as easy as it seems. I live in Pattaya and am not sure I would want to go into that bar again anyway!

I have contacted a private detective agency, do not know what good that will do. Thought we could at least check out the story of the shop and her background. She has several different stories about her parents and the fact she left her former boyfriend because she cannot have kids - then says she wants kids with my friend.

Maybe its time to get a new best mate - would be easier in the long term if he is going to get involved with this con artist!!!

On a practical note, can she restructure the 'loan' in any way - I am trying to get his so-called required monthly amount down from 30,000 baht to at least stop him sending 30000 baht a month if he does get sucked in!!!

Assuming for a moment that the debt story actually is true... no matter how you restructure it, it must still be paid off. 300k is a good chunk of money for UK standards too, something you don't want to throw out the window - but it will still be much easier for your mate to pay it off than for her. If you restructure it, reduce the interest rate and extend the payment duration... how is she going to pay it off if she stops working in a bar? There's not much leftover for debt payments if she gets a 5k-15k per month job.

It's pretty much impossible for a normal girl with not-so-good education and not much work experience to pay off any significant debt like that, especially without the help of men. If she really has acquired such a debt, she's scr*wed...Literally. That's why he should really find out if it's true or not, and if it really is true, he should consider paying it off...

Looking at it from another view... why on earth does she have a car if her credit card debts forces her unwillingly into working in bars? If she really hated the bar work, she would get rid of the car first. Or, she's just plain stupid.

Let us know how the story plays out

cheers

nm

[dsfbrit]

If it was me, I would ask the girl to document the details of this. I would want to see the credit card agreements, the transaction history etc. before I would believe it. If she couldn't be bothered to show me this - too much hassle, don't like to be interrogated - I wouldn't be bothered to pay it off either. If she expects me to part with my hard earned cash, I expect her to show me effort as well.

Exactly. Get your "best friend" to take ALL the docs to someone like Sunbelt or a similar co for verification, whatever it costs it will be cheap.

I'll bet the ranch she has no docs to back up her story.

A few years ago a friend and I tried to help a lass with her "mortgage arrears" when push came to shove, nothing was produced. It was a con. I dumped her on 9.11.01.

Get your mate to read this forum thread/topic, regardless. He may wake up, who knows.

I have sent him the URL - it may help - lets hope so - I am still amazed he is not seeing this for what it is - she even wanted to use some of the money for English Lessons - I kid you not!!! a classic even - one used against me in the past!!!

[PhilHarries]

Is this a sign that the bar girls are gearing themselves up for the quality tourists? No more sick buffalos, mothers, fathers, grandparents. Now they've moved into a new technological age and upped the ante.

It's all been said, the whole story is complete and utter <deleted>. Unfortunately it sounds like your friend is in denial where, for a majority of cases, there is no return until he's been stripped bare and discarded. Even if you, or he, confronted her and demanded verifiable proof it sounds like she's a real pro and would come up with a string of, to him, very plausable stories and reasons why things don't quite add up.

[Morden]

I suggest that the first step for our friend is to get some hard facts. A good starting point would be to see statements proving the debt. If she has other debts such as a car loan, he should get the same proof for those too. If he thinks that her home can be used as collateral for some form of debt restructure, he should check the chanoot to ensure it's free of encumbrance such as a charge to a bank. Does he have any evidence that he is her only boyfriend?

This could be another version of the sick buffalo story or it could be genuine. Either way, your friend is heading for an expensive disappointment and it's unlikely that he would recover his money, even through the Courts

A golden rule is don't spend large amounts of cash on a Thai woman unless she is already your wife.

I wish him good luck!

[think_too_mut]

This could be another version of the sick buffalo story or it could be genuine.

Has any bg in Thai ever said that "sick buffalo" story? On several occassions I mentioned it, none knew what it meant.

Back to the OP. Looks like the girl was set by someone who cut her loose and suddenly she is high and dry.

The 300K debth could be true but not via credit card.

Gambling - I doubt she would be still alive had she gambled that much and still kept her house and her car.

She's not worth pissing on her, let alone paying SunBelt to check up her finances.

Edited December 19, 2007 by think_too_mut

[dsfbrit]

Thanks for the feedback - all good advice.

I will let you know how it all ends up!

regards

[JonnieB]

a likely troll but if not...here's my 2-satang...I don't know for sure but would assume cc debt in thailand is unsecured personal debt like in the west. just walk away or declare personal bankruptcy. it is unsecured so there is nothing they can do to collect (unlike the money lenders found on every soi )

[backflip]

"A friend of mine has a new girlfriend who has some money problems..."

It does not concern you, and you should not get involved.

[jfchandler]

Hey DFSBrit... tell your friend... I know this lady!!!

Hehehehehe... Seriously, I remember hearing the same exact story from a lady a year ago in Suk Soi 33. She was a real cutie... But not for 300,000 in debt from a supposed hi-end clothing shop that went bust.

If your friend is smart, he'll be glad to be far away from her in the UK. If he's REALLY stupid, he'll start paying off her "debt". I hope he's not THAT stupid!!!!

[mikethevigoman]

A friend of mine has a new girlfriend who has some money problems. She says she had a clothing shop which went bust owing 300,000 baht on a credit card.

She says she needs 30000 baht a month to clear this debt off and wants my friend to pay.

The story gets worse. She says this is the reason she has to work in a bar (yes we can all smell a con here, but he is my best friend and I am trying to help him).

I would like to know if the situation in Thailand is similar to my native country England, where this kind of debt can be restructured in some way if there is hardship.

If this is a persoal debt (ie: she did not have a limited company), would she be able to go and speak to the credit card company, explain she cannot pay and restructure the loan in some way.

She has a car worth 600,000 Baht (not sure how much she owes on this) and a house (not sure of the value of this), could this used to restructure the loan. My initial thought is sell the car and the debt is gone isn't it!!

If she had a limited company and the credit card was in her name I suspect the debt would be a part of the company bankrupcy and not really an issue. Is this correct in Thailand.

Any advice would be appreciated, as my friend is eager to help this girl and I am eager to prove that she does not need 30000 baht a month.

By the way, I am NOT a Troll - check out my other posts - I cannot believe he is planning to do this. She has been proven to have lied on other issues, however love is blind it seems.

Thanks for your help

Whats that smell !

[mikethevigoman]

Hey DFSBrit... tell your friend... I know this lady!!!

Hehehehehe... Seriously, I remember hearing the same exact story from a lady a year ago in Suk Soi 33. She was a real cutie... But not for 300,000 in debt from a supposed hi-end clothing shop that went bust.

If your friend is smart, he'll be glad to be far away from her in the UK. If he's REALLY stupid, he'll start paying off her "debt". I hope he's not THAT stupid!!!!

Me too ! , that she has a car and a house to me says greed,( and another farang ripped off ) if shes serious sell the motor and pay it off, farang tong tong !

[mikethevigoman]

At 3000B/month she is not asking a lot, less than US$100 but it is a classic bar girl story. She would need 10 or more sponsors to cover such a large debt.

she probably already has the other 9 !

[kash]

Firstly, unless she is rich and I mean earning many millions a year, then no way would she have a Bt300,000 line of credit. I have a friend here, working years and earning perhaps 4-5m per year and his credit limit is around Bt150k.

Yeah? Your friend must be a low credit person in all other aspects then, 150k is nothing if you make 4-5M a year. 15-20% of annual salary is no problem, and in many cases much more.

[junkofdavid2]

Forget her. A classic con artist.

I disagree. A con 'artist' comes up with a very credible story... not one full of holes like this one!

The problem is with the one so moronic as to believe her...

Oh I forgot! His girl is different...!

[JonnyF]

Definitely a con, at best the debt exists but it won't be on a credit card, at worst she's made it all up to get the 300,000.

Good luck convincing your friend though. I had a mate come out here and meet a girl two years ago. Since then he's sent her on average 60,000 baht a month for the usual reasons (her mum is sick, motorbike was stolen, wants to set up a food stall etc etc). I've tried to tell him so many times that even if the stories were true then the amounts she is asking for are way over the top. At points it has resulted in some quite bad arguments between the two of us but he is still convinced that she is genuine because she calls all the time!!

I hope this girl doesn't have such a negative affect on your friends life. My advice would be to drop her now - it's not like pretty bar girls who have a great reason for you to send them money are hard to find!

Best of luck with this, I hate seeing decent people getting ripped off.

[dsfbrit]

Well once again thanks for the advice. He has decided to do what several of the posters suggested here and check into the debt. He has promised me he won't send any money to her until she has proved she has this debt and also proves she owns the car.

I will then take the documents to be verified by a solicitor, make sure they are what they claim to be.

Should be interesting.

Thanks for advice, I bet he enjoyed reading this thread !!!

[ukjackthai]

I would play HER around first, And you know what I'm saying by "playing" alright!

"Yes hunny, my clients are tranferring a couple million in the new year"

Then ditch her on new years eve.

Edited December 19, 2007 by ukjackthai

[jbaldwin]

The maximum credit limit that Thai banks will grant on credit card account is five times monthly salary.

If this lady does owe 300,000 this means that she previously had a regular income of at least 60,000 baht per month.

[mikethevigoman]

The maximum credit limit that Thai banks will grant on credit card account is five times monthly salary.

If this lady does owe 300,000 this means that she previously had a regular income of at least 60,000 baht per month.

Busy girl !,. but not unheard of in a masage parlour like sabai land, im reliably informed