Isaan Money Lending

[hp8000]

I'm just stunned. What is going on in your head..? ohmy.gif

I don't think it's worthwhile to risk your visa, trouble with local people and headaches for peanuts. Coz you'll get only peanuts.

[jckei]

Blizzard is right. You will loose.

Would you lend money to perfect strangers in your homecountry ? No. So why here knowing that it can be used for gambling, drinking or ???

Keep your money and let the bank deals with such business.

I simply wanted more information about it. With the overwhelming response and all the facts laid out I dropped the thought of helping the missus right away. That's what boards are for right..?

It has absolutetly nothing to do with blizzard's posts. Seriously, to be frank.. Am I the only one that understand that he's a moron? Ok, he got that "cool & retarted style" which probably makes people laugh, but other than that..?

[jckei]

I'm just stunned. What is going on in your head..? ohmy.gif

I don't think it's worthwhile to risk your visa, trouble with local people and headaches for peanuts. Coz you'll get only peanuts.

Yep, hear you.

[hp8000]

Sorry if I looked a bit harsh, but be careful in Isaan. Even the girls there don't understand most of the bad tricks some people can use.

Sometime they engage in some crappy deal even an 8 year child would refuse in Europe, just for the face.

Itś your money you earn from your hard work, keep it safe. Cheers.

[jckei]

Sorry if I looked a bit harsh, but be careful in Isaan. Even the girls there don't understand most of the bad tricks some people can use.

Sometime they engage in some crappy deal even an 8 year child would refuse in Europe, just for the face.

Itś your money you earn from your hard work, keep it safe. Cheers.

No, not at all hp8000. I appreciate you posting and reinforce what the other guys are telling me.

I'm sorry if I came out looking like I was angry at you, that was not my intention. It's that troll blizzard that gets on my nerves. Cheers

[Globeliner]

Sorry if I looked a bit harsh, but be careful in Isaan. Even the girls there don't understand most of the bad tricks some people can use.

Sometime they engage in some crappy deal even an 8 year child would refuse in Europe, just for the face.

Itś your money you earn from your hard work, keep it safe. Cheers.

No, not at all hp8000. I appreciate you posting and reinforce what the other guys are telling me.

I'm sorry if I came out looking like I was angry at you, that was not my intention. It's that troll blizzard that gets on my nerves. Cheers

Phew! Thought it was just me !

All the best to you jckei, just keep your wits about you.

[blizzard]

not just you. when i tell op he is silly they usually get their knickers in a knot. even though the majorty are saying the same thing.

one could construe what one poster posted referring to an 8 yr old europe kid as having same mental capability as a rural issarn girl insulting, but not me.................lol. i wonder what that 8 yr old kid would do in a lot of these situations, as opposed to the posters here...lol.

Edited January 30, 2008 by blizzard

[jckei]

not just you. when i tell op he is silly they usually get their knickers in a knot. even though the majorty are saying the same thing.

That's where you are wrong. You are the only one making assumptions on your own and making insults based on that. You have absolutely nothing incommon with the "majorty". They are here to help. You are here to troll.

[Globeliner]

not just you. when i tell op he is silly they usually get their knickers in a knot. even though the majorty are saying the same thing.

That's where you are wrong. You are the only one making assumptions on your own and making insults based on that. You have absolutely nothing incommon with the "majorty". They are here to help. You are here to troll.

Don't rise to the bait, the mods should take care of it

[Khun ?]

why dont u put yr gf on allowance. whatever interest she would have collected on lending yr money is her allowance.

this is one cas where farang shouldnt try to be thai.....................lol.

does one lose all senses when one decides to live in village?

Can't lose what one doesn't have!

[Globeliner]

There's always one idiot in every village, and Blizzhead has proved it........

[jcgodber]

Neither a borrower nor a lender be

[Dave the Dude]

There's always one idiot in every village, and Blizzhead has proved it........

It may be just me but I find his posts and mis-speelings very funny. Hope he never downloads a Speel checker program

It reminds me of that French bloke on 'ello ello'

Dave

[ozzydom]

A little bit of civility please folks, the OP asked for advise and has received many good responses from which he can make up his own mind on the matter.

There have also been some posts that are very close to being classed as flaming and you should all be aware of the consequences of such posts.

Please keep it ON TOPIC and leave the personal remarks out of the thread.

cheers

ozzy

[rgs2001uk]

There's always one idiot in every village, and Blizzhead has proved it........

as much as he may infuriate many, i wonder at times if he is hitting a raw nerve.

i for one dont let his bumpkin style of posting lull me into a false sense of security, the man has a remarkable insight into how things are here, something which i feel a lot of the 2 week millionaires, either turn a blind eye to , or arent aware of.

imho the man is only telling it as it is.

[bina]

money lending and borrowing on land is standard practice in issaan; the problem is ow to enforce reclaiming the land when the 'jam' time is up (someone needs cash, he gives land to my mother in law for three years, she farms it, gets the proceeds and returns the land if the guy pays up; if not, she gets the land... on paper? not sure; worth it? not sure... but land rich money poor farmers this is the option... this hppens the most when men want to work overseas and need the cash for the passport visa finders fees.... ; i once tried to make a list of whose land is whose, chanote, or rai or whatever... its all in the people's heads, nothing written down, and its like rolling a third party check... a never ending circle of lending and land moving hands... the interest is dependant on if the borrower is in the pi/nong network or someone more 'outside' the circle...

blizzard unfortunately is correct: would u lend someone money to engage in illegal grey market money lending in your own country?? better u shouldnt even know about it let alone provide for it....

i had my own run in here with angry thai and my hubby's dumb lending ideas: hel_l hath no fury like a thai scorned and involved third party intervention , diplomacy and lots of cash at once to 'fix' the problem... remember, u dont know who the local mafiosa are in the village, and she may promise more cash then u can help her with since thai village dont always differentiate between ready liquid cash and other assets (what happened to me, he really didnt know and he paid triple for his mistake both to me and to the third party lendee) .

ditto for any lottery ideas.... steer clear............

bina

[blizzard]

its been said b4 if u want to help poor thais buy em a book!

to you whomay not understand, EDUKATE THEM!

ps bina, when am i ever wrong. you know when i post its usually responding to op" silly questions or just as silly situations..............lol. one doesnt need o be a genius to see the silliness going on. im not thai!

[coventry]

not just you. when i tell op he is silly they usually get their knickers in a knot. even though the majorty are saying the same thing.

That's where you are wrong. You are the only one making assumptions on your own and making insults based on that. You have absolutely nothing incommon with the "majorty". They are here to help. You are here to troll.

The best advise you had so far is blizzard. Don't lend money to Thais irrespective what you think you'll stand to gain. Thais are liars at all levels and never repay loans on time. It's a Thai thing. Keep your money in an off shore bank and live off the interest. Don't say you weren't warned.

[jckei]

Quite a few people has been telling me the same thing in this thread, that it's a bad idea. Good, I just wanted to know more about it and will absolutley not support my missus going thru with anything like this. I think I made that pretty clear after getting all the response I got.

What I really dont get is why this prick, blizzard, that has been giving the same advice as everyone else being raised to the skyes. The only diffrence between him and the others here is that he got a little twist to his comments - a nice bunch of insults. My crusade against him in this thread has absolutely nothing to do with his knowledge nor his advice.

I'm not a very active writer here but I do read alot, but in the future when im helping out others I will make sure to add some "lols", few hundred dots and insult the OP for being curious, then simply just wait and read all the comments on how great I am.

Jesus....

Edited February 1, 2008 by jckei

[Dave the Dude]

its been said b4 if u want to help poor thais buy em a book!

to you whomay not understand, EDUKATE THEM!

ps bina, when am i ever wrong. you know when i post its usually responding to op" silly questions or just as silly situations..............lol. one doesnt need o be a genius to see the silliness going on. im not thai!

Its very curious why the above p.s. is suddenly in near perfect English compared to the joke miss spellings/phrases in the past.

NOTE TO SELF: Acting as a buffoon cannot be switched off. Mmmmmmmmmmmm

Have a good day One and All

Dave

[blizzard]

come on guys lighten up!

people, others insult too, they just dont do it as open as i do. hey, ive been suspended for my openness.

theres another thread where a guy tells op to find some testicles, thats more insulting than anything ive ever wrote.............lol.

Edited February 1, 2008 by blizzard

[roygsd]

My girl keep telling me about this "fast" way to earn money in Isaan if you allready got some dough.

It's moneylending. That word freaks me out...

I want to know more if im even going to consider to help her start out with this (=give her a few K )

This is what ive been able to make out of her description:

Every sunday, something best described as the "village council" meets up and the people in her village area comes there to borrow/lend money. All the business that is going on is controlled by the "council" for the safety for everyone. The going rate is 5% a month. There is always collateral, most of the times farmland. It's made sure by everyone that the land is worth more than the amount being lended.

Well, my questions are... Does this sound right? Farmland as collateral... can that really be safe? Is there someone with own experiences with stuff like this?

It's not that I dont trust my girl, but her english is far from perfect so I just feel that I need some more information about this IF I decide to help her out.

If something sounds too good to be true, it generally is!!!!!!!!!

Putting the pressure on hard up farmers to pay a debt at extortionate rates is not healthy for them or I suggest for you in the long run.

Loan sharks go to jail in most countries, thai authorities will not be best pleased to see farangs exploiting other less fortunate thai's. Some might suggest you are going to be treading on the toes of the local mafia and as this forum can confirm it dont take much to offend a Thai who is under pressure.

Tell the g/f to find a safer investment, if it were her own money there is no doubt in my mind she would not be so foolish as to invest in such a risky business, if it came to the authorities attention who do you think will get theblame for providing the extortunate loans?

All trouble will lkely land at your door, as a Thai Policman eplained to a friend of mine who was the innocent party in a traffic accident, "it is your fault aif you had not been inthe country then the accident would not have happened", forget the get rich quick schemes they may be ok for thais but for farangs they are a no no.

Do let us know how much you have lost in this scheme in a month or so........

Roy GSD

[Thai Chi]

Do let us know how much you have lost in this scheme in a month or so........

Roy GSD posted Yesterday, 2008-05-06 21:39:40

Quite a few people has been telling me the same thing in this thread, that it's a bad idea. Good, I just wanted to know more about it and will absolutley not support my missus going thru with anything like this. I think I made that pretty clear after getting all the response I got. posted by the OP jcke 2008-02-01 08:40:57

Roy, considering you are answering a 3 month old post, where the OP has clearly stated the above, I am wondering if you even bothered to read the complete thread

Mind you, dragging up all the old ones is a sure fire way to up your post count

[roygsd]

Do let us know how much you have lost in this scheme in a month or so........

Roy GSD posted Yesterday, 2008-05-06 21:39:40

Quite a few people has been telling me the same thing in this thread, that it's a bad idea. Good, I just wanted to know more about it and will absolutley not support my missus going thru with anything like this. I think I made that pretty clear after getting all the response I got. posted by the OP jcke 2008-02-01 08:40:57

Roy, considering you are answering a 3 month old post, where the OP has clearly stated the above, I am wondering if you even bothered to read the complete thread

Mind you, dragging up all the old ones is a sure fire way to up your post count

Hello Thai Chi,

Quite why you feel it necessary to suggest the purpose of my resopnse was to drum up my post count I dont know, perhaps a combination of a vivid imagination, and too much time on your hands?

Presumably you wll concede that if that were my purpose then a simple line or so would have done the trick?

As it happens I get very litle time to go through the forum and when I do I comment upon things that I feel are worth commmenting, agreed from time to time I may rush through some items a little to quickly and as a result not pick up on all

and ever line of what people have posted but then again Idont supose that I am alone in that regard?

As I have never seen or even considered it neccessary to look at my post count your interest in it is even more remarkable.

I understood Tai Chi was suposed to be relaxing? If you do practice Tai Chi I sincerely hope that more practice and the pasage of time will help overcome your apparent suspicious nature, but then again maybe it will not?

enjoy your day

Roy

then the answer i

[abdulrahman]

If you are not aware of a new and better recipe,don't re-heat the soup!

[Thai Chi]

Hi Roy

I think you may have mis-understood my post.

I normally would not respond to someone who drags up an old post that is by and large, dead in the water.

The advice you gave the OP was sound, and was the genral opinion of most of the other replies. But then you had to go and spoil it all by saying somthing stupid like...."Do let us know how much you have lost in this scheme in a month or so" (Hmmm, that lines got a song in it I am sure)

Now, considering that the OP was 3 months old when you asked that question, it would be impossible for him to answer it. I have also made a few errors here on TV. But that was just shoddy. I mean, you went to all that trouble to post good advice and couldn't be bothered to read less than 3 pages of posts to get the drift of things.

Which if you had done, you probably would not have responed at all, and I would not have replied to your post.....which would have left me more time today to practice my Tai Chi.

My comment about the post count (followed by the wink) really was tounge in cheek, and I apologize for the obvious discomfort that it has given you.

Enjoy your further postings

A very relaxed

Thai Chi

[Thai Chi]

If you are not aware of a new and better recipe,don't re-heat the soup!

I wish I had said that, instead of opening a can of worms (soup)

[MISTERBONK]

Money lending need not be dangerous, if you do it properly.

Most Isaan villagers live from hand to mouth, their monthly wages (if they work) often not being paid until well into the next month. Sons and daughters working away from home send a pittance every month for the elderly and their children. In between times they tend to run out of money and need a helping hand until new money arrives. The traditional loan sharks will charge 5% -10% for a small loan to tide them over. If they are near neighbours and you know them well (and especially know their loan history -do they repay -) then a thousand or two baht at a nominal interest rate of say 2% will greatly help them, and provide you with far more interest than if you left it in a bank.

If you want to consider a larger loan, ie to assist them in improving their living accommodation, or purchasing a motorbike, then you need to consider a guarantee. The land on which their house is built will suffice.

In my experience, when there is a farang behind the scene, there are no problems. Village Thais are generally wary of us, and know full well that we will call in a guarantee if they don't pay up.. Where they have borrowed extensively, it is always the farang backed loan that gets preferential repayment over a Thai loan.

Keep it small -don't upset the main loan sharks - offer lower interest rates, and most importantly insist on monthly partial repayments. Most loan sharks want full repayment rather than drip feed repayment, and for most Thai's this is next to impossible.

[torrenova]

I know quite a few guys who have been talked into it.. The first couple of payments come and then nothing. Funny how most of the borrowers are family or distant family. After the money has been spent by them and they cant pay it back they just walk away and dont care. Mai Pen Rai

Dont do it

I think that is the best advice. My missus got burned by some family and I'm almost certain it is because I am in the picture. They will shit on each other anyway but they will be quicker to shit on someone when there is a westerner with limitless money (ha ha) on the scene.

You'll grow old and die before they come back with your cash and if you try to take their land you'll most likely get buried under it.

[colino]

down where i live Thais borrow from a local guy then pay back 100 baht a day borrow 3000 pay back 4000.

I personally would say steer clear of any involvement you are not Thai and the cards are stacked against you big time ,

there are to many story's on here about G/F's have good idea to make fast money

(for them selfs and their family and friends )

best of luck

colino