Statute Of Limitations

[john b good]

What is the 'statute of limitations' in Thailand (if they have one) i.e. how long is it in time ?

I have had a 'hi-so' Thai owing me a decent sum for some considerable time.

I am thinking that I might sell the debt to a loan shark as I know that this way I will get something and the loan shark has the means and the nous to get the money 100 %

Edited February 7, 2008 by john b good

[p1p]

Moving to General as it has no connection to Chiang Mai.

[A_Traveller]

Depending on the matter, I seem to recall that it is, in general terms, 10 years. For example the case brought against Thaksin by the American businessman foundered on that limit, despite an argument that some time was being 'double counted'. Some financial cases are covered for 15 years, but courts here do look at speed of filing.

Regards

Edited February 7, 2008 by A_Traveller

[john b good]

Moving to General as it has no connection to Chiang Mai.

It does !!, because I am in Chiangmai AND she is in Chiangmai.............................

[Heng]

Doesn't sound like there is a contract involved.

The debt collector idea can work, just be sure not to hire Somchai Wayne, because if things get out of hand, you'll end up as someone who hired a hitman.

[Flatouthruthefog]

Moving to General as it has no connection to Chiang Mai.

It does !!, because I am in Chiangmai AND she is in Chiangmai.............................

A Thai I met in UK told me that he had fled from Bangkok owing millions on a land deal which had gone sour. He was quite clear that if he "couldn't be found within SEVEN years" the slate was wiped clean in Thai law.

And indeed he did return after 7 years for occasional visits, but was very careful where he was seen!

And Somchai? Is he "The motorcycle man from Pechabun"? Cheapest hit man in the realm because he works alone. He is left handed and so he can drive both the motorcyle and the pistol without employing a passenger! (Chiang Mai urban myth from 10 years back!).

[john b good]

Doesn't sound like there is a contract involved.

The debt collector idea can work, just be sure not to hire Somchai Wayne, because if things get out of hand, you'll end up as someone who hired a hitman.

There is a written contract however, that doesn't mean a helluva lot to a Thai owing money.

[Heng]

Doesn't sound like there is a contract involved.

The debt collector idea can work, just be sure not to hire Somchai Wayne, because if things get out of hand, you'll end up as someone who hired a hitman.

There is a written contract however, that doesn't mean a helluva lot to a Thai owing money.

Then your first step would be to file a police report. Then you don't have to worry about the statute of limitations because it'd be on record... be sure to follow up on it to keep it 'live.'

Next time, also make sure your loan contract is secured by a sell by proxy contract for property as collateral registered with the land department. Probaby the only air tight contract out there as far as loans are concerned (and yes, it does mean a helluva lot, because there's no way to get out of it without getting your collateral seized).

p.s. doesn't cost you a thing because traditionally all fees involved are paid by the debtor. It's just that most folks are unaware that it can be done this way or are too lazy to do so.

Edited February 8, 2008 by Heng

[soundman]

Doesn't sound like there is a contract involved.

The debt collector idea can work, just be sure not to hire Somchai Wayne, because if things get out of hand, you'll end up as someone who hired a hitman.

Somchai Wayne.

You are in a better position than most to supply some info. on a few specifics of selling a debt & basic debt recovery without getting yourself in too much hot water, Heng.

I'm sure that if you could jot a few words of wisdom about some approaches that may lead to even a partial recovery of an un-secured debt, without getting yourself one's self into too much trouble, it would be greatly appreciated by many people on this forum.

Me - I just go with Seargent Somchai at 50% of what's collected on amounts less than 5,000B.

Cheers,

Soundman.

[Heng]

Doesn't sound like there is a contract involved.

The debt collector idea can work, just be sure not to hire Somchai Wayne, because if things get out of hand, you'll end up as someone who hired a hitman.

Somchai Wayne.

You are in a better position than most to supply some info. on a few specifics of selling a debt & basic debt recovery without getting yourself in too much hot water, Heng.

I'm sure that if you could jot a few words of wisdom about some approaches that may lead to even a partial recovery of an un-secured debt, without getting yourself one's self into too much trouble, it would be greatly appreciated by many people on this forum.

Me - I just go with Seargent Somchai at 50% of what's collected on amounts less than 5,000B.

Cheers,

Soundman.

I'm not terribly experienced in that field. The last time I was involved in an unsecured debt situation was during the 1986 Major League Baseball playoffs and World Series (when I was 10 years old). One of my classmates and I bet $20 that the Mets wouldn't beat the Astros in the league playoffs... when the Mets won, he claimed that he meant the Mets wouldn't win the World Series (it was a decent bet, the Mets had all the momentum and power on paper that season and the only thing that he had on his side was home team pride). Violence wasn't worth it, and legal arbitration was out of the question since we probably shouldn't have been gambling during our QUEST gifted/talented class. Fortunately, the Mets pulled it off (against the BoSox) and he relented and paid up.

Lessons learned:

1. No unsecured debts.

>>> (no automobiles or any other piece of metal that depreciates to zero as collateral; no gems or jewelry or gold bars -unless you'll allow drilling through of said gold bar with gold dust tested for purity... dirt with chanote only is the rule nowadays)

2. Terms of debt must be clearly stated and written.

>>> (all debts will have a contract attached with the standard one witness from your party, and one from mine)

3. No debts in situations where a legal out will not be an option.

>>> (this has evolved into sell by proxy debts only with property as collateral... see footnote below)

added later on...

4. No worthless collateral

>>> (it's a no brainer, but I tell this to folks who want to use company checks as collateral... yes, check bouncing is a felony and you'll get in trouble but I still won't have my principle + interest back).

5. No loans to anyone not running legal business with somewhat apparent cash flow.

>>> (that means no loans to mia falang's addicted to playing cards, no local dudes addicted to betting on soccer, or anyone else looking to use this loan to finance an interest payment on another loan... "aka borrowing from Visa to pay Mastercard... or from Heng to pay Meng")

It's mostly common sense. That's how you avoid being on the cranky end of the deal in life, you learn your lessons early and you stick to them.

*regarding property as collateral, a few things you should keep in mind:

a) a copy of the chanote must be presented (and I'll most certainly go out to look at it)

no blind or other problematic property (if it's swamp land, next to a garbage fill, etc.)

c) no joint ownership chanotes unless BOTH parties are part of the contract + sell by proxy contract

[ray23]

Go see a lawyer

[Pandemonium]

Moving to General as it has no connection to Chiang Mai.

It does !!, because I am in Chiangmai AND she is in Chiangmai.............................

A Thai I met in UK told me that he had fled from Bangkok owing millions on a land deal which had gone sour. He was quite clear that if he "couldn't be found within SEVEN years" the slate was wiped clean in Thai law.

And indeed he did return after 7 years for occasional visits, but was very careful where he was seen!

And Somchai? Is he "The motorcycle man from Pechabun"? Cheapest hit man in the realm because he works alone. He is left handed and so he can drive both the motorcyle and the pistol without employing a passenger! (Chiang Mai urban myth from 10 years back!).

Really, so what is his contact number? ..... Just kidding, I will let the judicial system handle it! Ha ha.

[Pandemonium]

Doesn't sound like there is a contract involved.

The debt collector idea can work, just be sure not to hire Somchai Wayne, because if things get out of hand, you'll end up as someone who hired a hitman.

There is a written contract however, that doesn't mean a helluva lot to a Thai owing money.

Then your first step would be to file a police report. Then you don't have to worry about the statute of limitations because it'd be on record... be sure to follow up on it to keep it 'live.'

Next time, also make sure your loan contract is secured by a sell by proxy contract for property as collateral registered with the land department. Probaby the only air tight contract out there as far as loans are concerned (and yes, it does mean a helluva lot, because there's no way to get out of it without getting your collateral seized).

p.s. doesn't cost you a thing because traditionally all fees involved are paid by the debtor. It's just that most folks are unaware that it can be done this way or are too lazy to do so.

Sipping Orange Blossem,

Yes! That is what I wanted to here, lay a charge with the cop's and keep it current. EXACTLY! I will do it in the morning thank you, thanks to everyone else to, everyone who tried to help, thank you!

[Maizefarmer]

Doesn't sound like there is a contract involved.

The debt collector idea can work, just be sure not to hire Somchai Wayne, because if things get out of hand, you'll end up as someone who hired a hitman.

There is a written contract however, that doesn't mean a helluva lot to a Thai owing money.

Then your first step would be to file a police report. Then you don't have to worry about the statute of limitations because it'd be on record... be sure to follow up on it to keep it 'live.'

Next time, also make sure your loan contract is secured by a sell by proxy contract for property as collateral registered with the land department. Probaby the only air tight contract out there as far as loans are concerned (and yes, it does mean a helluva lot, because there's no way to get out of it without getting your collateral seized).

p.s. doesn't cost you a thing because traditionally all fees involved are paid by the debtor. It's just that most folks are unaware that it can be done this way or are too lazy to do so.

Yes ... to reiterate what Heng has said: once the report/complaint is filed and the alleged offence is defined (for example: fraud/suspicion of, or whatever ...) then the statute is a non-issue - even if the offence is later re-defined or recatorgorised as something else.

It's when you do not commence any action or legal proceeding within the statute time frame that you can't then go back, so to speak, to take action against an accused for an alleged offence e.g. you can't have your shop broken into and stolen from, or your cheque book used by a 3rd party without your consent, then sit on it for however long you want, and then decide say, 12 or 15 years down the road that you really are p'd off what Khun so and so done in 1991 or 92 or whenever, and decide you ant to do something about it, start legal proceedings, file a complaint or take some or other legal action.

File the complaint, get the case open and get the allegation made as soon as you feel there is sufficient evidence to do so .... and not withstanding that, the longer you leave things, I can tell you the less motivated the cops are to chase it, if only because history shows [them] that it becomes harder and harder to successfully prosecute cases the longer a matter is left unpursued. Witnesses become far & spread, memories fade, evidence becomes "lost", files go "missing", case officers move on or may retire and generally the whole matter just becomes messy and more complicated the longer its left.

[Svenn]

There's no such thing as a general "statute of limitations," there are hundreds of different SOL periods depending on the area of law and the matter involved.