Loaning Money

[jietjon]

"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 point. As my old daddy told me . Trust none ... Love few.... and always paddle your own canoe

[harleyclarkey]

Interestig reading: I have for the very first time lent 30k to an Ex that I keep in touch with on a regular basis. Good woman, own business and wanted a top up to buy land. She had been talking about this for 2 years. She is building 5 rooms on the land to rent out. Sounds OK to me. It will be interesting to see if she repays on the day she has agreed to. As a rule I only lend to family.....and that has been bad enough!!

[harleyclarkey]

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.

Yes....good point and my sentiments also.

Look upon it as a grant/gift and if you get repaid so much the better. People who borrow money are stuck...when they are stuck they have no...???...money!! No money now, no money in the future. I am sure the will is there at the time and their intentions good ....but that doesn't pay back the loan. Yep..more a grant than a loan.

[lawling]

Just out of interest, the quote is from Shakespeare's Hamlet, part 1, act iii. 58

And it's "Neither a borrower nor a lender be" and the rest of the quote is worth mentioning

"For loan oft loses both itself and friend."

[frankman]

You were told right!!!

[TopDogger]

If you have the spare cash and you trust and value his friendship, loan him the money. I lent a lady at work 35k bt last year and wasn't repaid, but I think that was the first occasion where lent money wasn't returned. Looking back, I should have lent less, but now I know she isn't a person I can trust.

Don't agree with the poster that thinks friends don't ask for money. Friends help friends that are in trouble.

I hope u got it back in kind..

[ericjt]

If it's more important to you than $10,000 to keep him/her as your friend, then don't loan the money. Give it to him/her. Tell him or her if they ever want to pay it back, that's fine. And if not, consider it a gift.

If you can truly do that with a good heart, then make the gift. If not, make it a loan, get paperwork signed, maybe take some collateral, and be prepared to lose the friend.

Last choice, tell him/her you're not in a position to give the money right now and avoid the hard choices.

Comments? Suggestions?

[boosh]

I would'nt loan people money it always ends in disputes. If people cannot afford to live over here or don't earn enough money to live the life they wan't over here I have an answer.

F@@KOFF to your home country and do some work.

I go back to the u.k for 4 months of the year to earn some money not because i have to but to make sure i always have money incase anything happens. I don't like it but i do it.

So I have no sympathy for people who live out here but can't afford to live out here and are TO LAZY TO GO HOME AND DO SOME WORK.

[farang555]

strong words booooosh but i like it

[jts-khorat]

On a serious note, do not lend to friends, you invariably loose them.

This is unbelievable. If you seriously believe that a friend would stick you for the tiny amount of 10k THB than better to know now and be rid of him forever. But more shame on you, that you mistrust the people you call 'friend' to their face so much.

Indeed, 10k would not be a small amount for me to loose, but a tiny sum if a real friend is in dire streets.

[siamamerican]

On a serious note, do not lend to friends, you invariably loose them.

This is unbelievable. If you seriously believe that a friend would stick you for the tiny amount of 10k THB than better to know now and be rid of him forever. But more shame on you, that you mistrust the people you call 'friend' to their face so much.

Indeed, 10k would not be a small amount for me to loose, but a tiny sum if a real friend is in dire streets.

I couln't imagine not lending a friend 10k if I had the spare cash. Depending on the situation, I would also forgive the debt if I determined the situation deemed it. Moochers are a differant story and I don't choose to be friends with them.

[Marvo]

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!"

This Canadian, his name wasn't "Grasshopper" something by any chance?

[boosh]

Idon't know if people know this but you are lucky if you have ONE or TWO true friends in your life the rest are just people you know. And over here most are only looking after themselves their cock and their booze.

A FOOL AND THEIR MONEY ARE SOON PARTED!!!!

[roygsd]

I picture myself in the UK in a pub, and a pal or drinking mate says; "Hi Libya can you lend me 150 quid"

I'd say; "piss-off, I'm not made of money you know, how about a score, will that do you"?

Make that a monkey and your on!

roy gsd

[roygsd]

Before I came to Thailand, nobody ever asked me for a lend of some money. However, since I have been in Thailand on 5 separate occasions I have had Thais borrow money from me, ranging from 5,000 to 25,000 baht, and totalling 76,000 baht and yes, you guessed it, I never got any of it back, not one baht. But, worse still, I never heard from these "friends" again. The last time I "lent" money to a person was almost two years ago and I swear I will never lend a single baht to anyone, especially a Thai, ever again no matter what the circumstance. I just don't want to know!

Is a 10000 Baht gift out of the question too?

roy gsd

[roygsd]

"NEVER A LENDER OR BORROWER BE "

I think that's a quote from Benjamin Franklin, and it's as applicable now as then. Whenever I've been asked for money, in any amount, I tell the requestor that I'm not in a position to lend money. The biggest question is "if you don't have the money now, how do expect to pay me back in the future?"

Just out of interest, the quote is from Shakespeare's Hamlet, part 1, act iii. 58

Almost correct, it is Hamlet, Act 1 scene 3 75-77

They look so similar..............

roy gsd

[roygsd]

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?

roy gsd

[roygsd]

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!

Maybe a tatoo saying "Ask and you might get it back would be better?

If you dont ask for it back it is unlikely to be returned......... cat got your tongue or something?

roy gsd

[martynsnowman]

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 .

just to let you all know , i went to see friend yesterday to ask about the money , and yes 90% of you were correct he does,nt have it.

he says he,s not had any money for 2 months but did need to do a visa run . even at the time when i loaned it to him he knew he could not return it .

i told him to keep it but not to come to my home or shop ever again ...

its not the money , i just dont need a so called friend who lies and deceves so easly .

maybe i should start a new thread. IS HONOUR A THING OF THE PAST ?.

martyn.

[Briggsy]

Idon't know if people know this but you are lucky if you have ONE or TWO true friends in your life the rest are just people you know. And over here most are only looking after themselves their cock and their booze.

A FOOL AND THEIR MONEY ARE SOON PARTED!!!!

Accurate opinions forthrightly expressed. Well done, that man.

Put your tin hat on though, the PC brigade will launch an assault once they read your posts.

Good luck, my friend. It's a war zone here.

[farang555]

no war zone.

most say lending is bad idea.

op didnt sy it was a school buddy from his home where he knew the guys ma and pa.

just some farang with a sob story!

[koheesti]

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 .

just to let you all know , i went to see friend yesterday to ask about the money , and yes 90% of you were correct he does,nt have it.

he says he,s not had any money for 2 months but did need to do a visa run . even at the time when i loaned it to him he knew he could not return it .

i told him to keep it but not to come to my home or shop ever again ...

its not the money , i just dont need a so called friend who lies and deceves so easly .

maybe i should start a new thread. IS HONOUR A THING OF THE PAST ?.

martyn.

Wow, what a timely thread I stumbled across. Yesterday someone I would have considered a friend skipped out on his bar next to where I live and left many friends/biz associates wondering where he is with all the money he borrowed off of them. He owes farang and Thai alike a total no less than 1.5 million baht. He cleaned out the bar of stock, glasses, TVs, sound system, etc. Borrowing money that you are unable to pay back after a few months is bad enough, but to look friends (some he has known for years and even back in the UK) in the eye and ask to borrow money saying you'll pay it back in a few days when your real iintention is to skip town is nothing less than flat out stealing. If an English guy named Paul speaking good Thai soon appears in Issan and opens a bar, let him know that his friends back on Samui are worried about him and want to help.

[farang555]

he ran off and you want to help him?

or r u trying to find him so someone can teech him a lesson!

[koheesti]

he ran off and you want to help him?

or r u trying to find him so someone can teech him a lesson!

The guy was well liked by everyone and as a bar owner he knew A LOT of people. There must have been a serious reason to borrow (in some instances "steal" is more accurate) from so many friends then run off. Some of these friends have known him for years so I don't think he is a professional con artist. Therefore there must have been a really good reason for what he did. Now, the total "borrowed" has gone up to around 3 million as more people come forward and maybe some of those want to help, and others want to teach. A month ago he went to Korat with his girlfriend and another couple for a couple weeks. Some believe he might be up there now trying to teach or open a bar. I have photos but I don't think it would be appropriate to post them here.

Edited August 2, 2008 by koheesti