Loaning Money

[Naam]

being the wise man you r mr naam. would you lend 1000$ to a fellow FEMALE office worker. and would you tell yr thai wife and what would she think about it.

unable to answer "Farang ha-ha-ha". simple reason: i am retired, therefore no female office workers around and i don't have a thai wife. please rephrase your question

[Tod Daniels]

the guy needed the money to do a visa run from udon to loas. thats why it was 10k. his visa run out same day and would cost him 2k per day in overstay if he didn't renew it quickly .

If he's in Udon and needs to go to Lao to do a visa run; the cost from the airport in a mini-van to the border is 200 baht. Plus (unless I am mistaken) overstay fees are NOT 2000 baht a day but 500 a day up to a max of 40 days or 20,000 baht. A visa to get into Lao about 35US,

10,000 for a visa run to Lao, especially from Udon, seems quite high.

He's your friend. .. …

I'd decline to give a loan like that, then again I don't have any friends either. ..

[Briggsy]

Farang in 3rd world nation. No savings. No health insurance. Asking to borrow money. Won't go home as the thought of not having totty on tap is too much to bear. This sounds like an accident waiting to happen.

[cloudhopper]

If it's a true friendship that you value then gift the money and forget about it.

[jitagon]

hi to all,

would you loan cash to farang friend ?

you,ve known him about a year , he,s never got much money but always manages to keep his head above water , or do you think giving him the loan will spoil friendship if he,s unable to repay ?

its only 10k bt but i was always told when i was younger , NEVER A LENDER OR BORROWER BE !

what do you think ... martyn .

I think a lot of farang 'forget' how easily one can fall into dire straits here. No welfare, and no close friends family to help out. If the friend has kept his head above water so far and not been a 'mooch', of course you should loan the money if you have it to lend. It is after all only 10k for god's sake. What a lot of mean spirited people there are here. For shame

[jitagon]

Farang in 3rd world nation. No savings. No health insurance. Asking to borrow money. Won't go home as the thought of not having totty on tap is too much to bear. This sounds like an accident waiting to happen.

Oh, and by the way, we're not ALL here for the cheap sex you sad man

[jitagon]

if i were a girl and my sweetie lent money to a female id be upset, darn tootin id be!

op is in a no win situation. if dude does pay him back he just gonna keep asking to borrow again and again and again.

i dont see why some think its a tuff call. people who borrow borrow 4 a reason, they need it. like some say where they gonna get it back to pay u if they didnt have it to begin with!

And YOU! I had a friend similar to OP's who was just scraping by. Up to him! But he fell upon hard times, I loaned the money with a thought that it might not be just a one off, but it WAS and I got the money back within the month. Again SHAME ON THE LOT OF YOU You lot wouldn't hesitate to fork out for the 'girlfriend's' family/buffalo. Why's that then?

[bendix]

does the guy sound like he is in trubble.........lol . u guys read too mut into peoples posts....lol.

ps. mr siam does yr wife know about lending office girl money!!!!!!!!!! hope she doesnt read here.

Blizzard, I thought you had been banned.

Blizzard! Of course. Farang5555's identify had been bothering me, but you hit in on the head.

Same nonsensical posts of two lines or less. Same stupid spelling. Same overuse of punctuation, and the horribly annoying (and self-serving) habit of finishing every bloody post with a lol.

Well spotted Maigo.

[intumult]

if i were a girl and my sweetie lent money to a female id be upset, darn tootin id be!

op is in a no win situation. if dude does pay him back he just gonna keep asking to borrow again and again and again.

i dont see why some think its a tuff call. people who borrow borrow 4 a reason, they need it. like some say where they gonna get it back to pay u if they didnt have it to begin with!

And YOU! I had a friend similar to OP's who was just scraping by. Up to him! But he fell upon hard times, I loaned the money with a thought that it might not be just a one off, but it WAS and I got the money back within the month. Again SHAME ON THE LOT OF YOU You lot wouldn't hesitate to fork out for the 'girlfriend's' family/buffalo. Why's that then?

Something to do with being in the g/f knickers?

[Tigs]

You should learn from my Thai mother in law, she is dead funny. For years she has saved money and set her self up giving out 'macro loans', maybe up to three or four thousand baht. She got bit once, but never since. I often go in to the kitchen to see two new looking mopeds parked in the house. It turns out that this is collateral from people she has lent 4000 baht to. If they don't pay back in three weeks, she will sell the moped It seems to work every time, makes me LMAO. Lucky we have a big kitchen

On a serious note, do not lend to friends, you invariably loose them. I arrived here six months ago, met an Oz guy living in BKK with his daughter, he was just made out of work, and quite desperate. I asked him what his 'survival money' was per month. He said 30 K baht, so i said i can help him for two months until he gets stright, haven't heard from him for two months, guess i never will, and lost 60K. Buddah says that you reap what you sow.....I am still waiting. Maybe i should go for a tattoo in chinese characters that says <deleted>, mug or moron!

[JRinger]

Depends who it is you are lending money to.

I've lent money to some Thai people and been paid back at the correct time, go figure.

As I have said, it all depends who it is.

A neighbor policeman and his wife came over in what seemed an emergency, in need of 10,000 baht with a promise to pay it back in two weeks.

Without much hesitation I gave it to them and sure enough they paid it back, over a period of a year in small installments.....I later found out he borrowed the money to buy lottery tickets........and then......the guy who delivers the bottled water wants to borrow 3,000 baht. first words he ever spoke! ..and then.....a niece of my wife calls who she has spoken to for many years, wants to borrow 100,000 baht.......and then....a guy from Texas who I met on this forum asked me to send his internet girlfriend some money, ok..I did, and when I later spoke to him he said "shit, I forgot all about it", and sent it to me the same day. I've had to borrow money in the past and always paid it back, with some sort of interest, but this was many years ago...my policy now is: No borrow, no loan.....except for those legitimate emergencies.

Your deeds, good or bad, will repay you in kind.

Edited July 25, 2008 by JRinger

[Naam]

does the guy sound like he is in trubble.........lol . u guys read too mut into peoples posts....lol.

ps. mr siam does yr wife know about lending office girl money!!!!!!!!!! hope she doesnt read here.

Blizzard, I thought you had been banned.

Blizzard! Of course. Farang5555's identify had been bothering me, but you hit in on the head.

Same nonsensical posts of two lines or less. Same stupid spelling. Same overuse of punctuation, and the horribly annoying (and self-serving) habit of finishing every bloody post with a lol.

Well spotted Maigo.

i recognized Blizzard after reading two Farang555 postings

[philliphn]

Would I lend a friend the 10.000 BHT under the circumstances described? Yes I would.

If he did not pay me back in a reasonable amount of time, or I had to go beging to be repaid, I would never lend him a BHT again. To me 10.000 BHT would not break or make me. However. I don't want to throw money out the window.

You never know you might need a friend to give you a small loan some time.

For instance when on vacation in Thailand. I have with me an ATM Card, a couple clean $100.00 dollar Bills, and traverlers checks. I usually keep most of this in my hotel lock box. However, It is possible that on the way to the hotel something inadvertent could happen. I could be robbed or pick poketed. Then I might need to borrow some funds. I have one friend in Thailand that I could ask for help. I think that he would help me under these circumstances. I would certainly help him. I have never needed to ask. Far away from home without this assistance if I needed it. I would be in real trouble. Nothing wrong with helping a friend.

[farang555]

ps. visa run money doesnt qualify as an emergency in my book! let em pay the penalties! like he didnt know he going to have to do one.

[sassienie]

The easiest way to lose friends in to get involved with money.

Always plead poverty and let some other mug have the worry of getting his/her money back.

[jietjon]

The easiest way to lose friends in to get involved with money.

Always plead poverty and let some other mug have the worry of getting his/her money back.

Sounds like a gambling, drug, drink problem to me , give him nothing. If he really was stuck for food or water , he would have asked for something more reasonable .... like 2000 bht

[joskydive]

I only ever say "I'd rather keep you as a friend"

[jietjon]

I only ever say "I'd rather keep you as a friend"

Very true, in these situations keep things at arms lenght .... always

[j0hnga1t]

Everyone needs money.  There are too many poor people or people in dire situations......My philosophy is one lend want you are willing to give away.  I have a gf whom I'm supporting (a little for her father and a her school tuition).  The first payment I gave to her was loaned to her friend (5,000 baht).  She did say she got a gold necklace as collateral.  She eventually gave the necklace back to her.  She told me that she'll pay back when she can.  I guess it was easy since it was my money not hers.  I doubt her friend will ever payback.  I don't expect her too since he has over 200K in debt.  I afraid that if I marry her, all her friends will ask her for money....this is definitely something we need to talk about beforehand.

[farang555]

mr johnaga

DONT MARRY HER! sound like you fit the mr moneybags description to a T.

she ask 4 money to lend to her friends, comeon now, if this isnt a big r ed flag then i dont know what is.

[siamamerican]

mr johnaga

DONT MARRY HER! sound like you fit the mr moneybags description to a T.

she ask 4 money to lend to her friends, comeon now, if this isnt a big r ed flag then i dont know what is.

Wrong again! She didn't ask for money to lend to a friend. She used her allowance and kindly gave it to a friend. She doesn't seem to worried about being paid back, because it wasn't money she earned (in the traditional sense ).

If a marriage is in the future, then some ground rules need to be laid down. Seems a little childish, but when in Rome...

[farang555]

wow. u really upset about my bicycle comments, sorry . and other comments i guess.

dont worry bout the tecnicalities, the girl sees man as a atm with big belly and feet. i bet her papa sees same same as daughter.....lol.

Edited July 27, 2008 by farang555

[siamamerican]

wow. u really upset about my bicycle comments, sorry . and other comments i guess.

dont worry bout the tecnicalities, the girl sees man as a atm with big belly and feet. i bet her papa sees same same as daughter.....lol.

Not at all bent out of shape. What bicycle comment? Maybe I should be upset

[Heng]

"NEVER A LENDER OR BORROWER BE "

I personally prefer "NEVER A BORROWER BUT A LENDER BE."

Much more lucrative and since interest works 24-7, one's own working hours are much reduced.

Edited July 27, 2008 by Heng

[wolfmanjack]

does the guy sound like he is in trubble.........lol . u guys read too mut into peoples posts....lol.

ps. mr siam does yr wife know about lending office girl money!!!!!!!!!! hope she doesnt read here.

Blizzard, I thought you had been banned.

Blizzard! Of course. Farang5555's identify had been bothering me, but you hit in on the head.

Same nonsensical posts of two lines or less. Same stupid spelling. Same overuse of punctuation, and the horribly annoying (and self-serving) habit of finishing every bloody post with a lol.

Well spotted Maigo.

He has been identified by many posters in the past. You must have missed those posts.

[wolfmanjack]

"NEVER A LENDER OR BORROWER BE "

I personally prefer "NEVER A BORROWER BUT A LENDER BE."

Much more lucrative and since interest works 24-7, one's own working hours are much reduced.

Good one Heng. I know someone that lends money at 10% a month to someone else that loans it out at 20% a month. The money is collected from their clients every day so the amount each day isn't much but it ends up being a large amount when added to all the different people they lend to.

[Heng]

"NEVER A LENDER OR BORROWER BE "

I personally prefer "NEVER A BORROWER BUT A LENDER BE."

Much more lucrative and since interest works 24-7, one's own working hours are much reduced.

Good one Heng. I know someone that lends money at 10% a month to someone else that loans it out at 20% a month. The money is collected from their clients every day so the amount each day isn't much but it ends up being a large amount when added to all the different people they lend to.

That's kind of illegal, but more importantly, it's a bit too hands on and time consuming. Loaning at those rates is indeed "real" work, as you'll have debtors dodging you left and right, packing up and moving to other provinces, etc.

@1 to 1.25% per month, it's just a matter of picking up the phone, and more often than not, you don't even have to remind them at all. They just make their payments each month like they are paying their electric or UBC bills. I'm looking into getting an automated program where I can just type in an amount and client name on my laptop made where a *kiku-anone* sounding voice actress says, "good morning, your interest (or rent) in the amount of is due today, please make payment within 3 business days, thank you..." (in Thai, English, and Spanish)

[grantbkk]

Rule number one in Thailand is to maintain control of your assets. If you don't you may be the one asking around for money. I loan rarely but when I do I think of it as a grant rather than a loan. For many of those that loan money waiting to be repaid and listening to all the excuses to why the cash is not forthcoming creates a lot of stress. Stress kills. If you can afford to giveaway money and it is something you want to do, loan it and forget it. If you get paid back it's party time with unexpected, found money.

[desktop]

I recommend not lending any money.

Within a week of arrival (6 years ago) I was asked for B10,000 by a farang friend saying he was waiting for his house being (in UK) sold money to come in and just needed it for a couple weeks. He moved upcountry soon afterward, went on visa overstay (so I heard) and I never heard from him again. Obviusly he took advantage of my naivette.

2 years ago another friend, who BTW was also keeping his head above water somehow, asked for B10,000.

I loaned again (dummy).

The following month he asked again - sheesh. I told him I'd probably have to get a divorse if I loan to him again. Seems that I'm an easy touch.

He is still around and staying in Thailand, I guess from hitting up other "friends".

I occasionally get emails from him saying he knows he still owes me, but...

Don't do it unless you expect to never to get it back.

[Flatouthruthefog]

Rule number one in Thailand is to maintain control of your assets. If you don't you may be the one asking around for money. I loan rarely but when I do I think of it as a grant rather than a loan. For many of those that loan money waiting to be repaid and listening to all the excuses to why the cash is not forthcoming creates a lot of stress. Stress kills. If you can afford to giveaway money and it is something you want to do, loan it and forget it. If you get paid back it's party time with unexpected, found money.

That's wise. My response would be slightly less good: Don't lend anything you can't afford to lose.

I've only broken that rule once, for a close farang friend here, and thank God it has come back in bits and pieces.

I also agree that friends do lend to friends. Helping out is an integral part of the definition of friendship. Over the years here I've borrowed (and always re-paid, albeit a bit late sometimes) and loaned a few small amounts - plus that one big one.

For instance at present I am owed 5,000b, 2,500b and 1,000b by different friends, the 2 first being hard working/struggling farangs, the latter a good Thai friend of many years standing. Dribs and drabs you might say, but re the all-important STRESS already mentioned, I won't cut my throat if they don't come back.

And one of the best attitudes I've ever seen on this came from a Canadian who was asked for a loan here by a Thai 2 years ago. He got a substantial sum out of the bank, handed it over and said "This is it. I can't ever help again. If I get it back, great. But if you choose to pass it on to help someone else when you can afford to, that's also great!"