Debt Consolidaters In Thailand

[Joburg]

A friend of mine borrowed from loansharks and is paying 20% interest per month. She has a job and assests (land). where can she get a debt consolidater to take over her debt and allow her to pay interest at a reasonable rate? The amount Im talking about is around Bt250,000.

[egg6447]

one wonders why you dont take on the debt. take her land as collateral. or are you just good friends.

[Gary A]

You're either a troll or you have never been in Thailand. Do you really think such a thing is available in Thailand?

[Owain]

A friend of mine borrowed from loansharks and is paying 20% interest per month. She has a job and assests (land). where can she get a debt consolidater to take over her debt and allow her to pay interest at a reasonable rate? The amount Im talking about is around Bt250,000.

Does she have a job that pays over 50,000 baht a month? If she does not then why did she take out the loan in the first place? I would think if she defaults on the payments then she is probably in for some serious trouble and will probably lose her land at the least.

[yongli]

A friend of mine borrowed from loansharks and is paying 20% interest per month. She has a job and assests (land). where can she get a debt consolidater to take over her debt and allow her to pay interest at a reasonable rate? The amount Im talking about is around Bt250,000.

Sorry, the story sounds a bit fishy to me. So I would be rather suspicious.

Should it however really be true:

Your friend needs to get out of this loan asap.

If your friend has the means to pay the 20% interest per month - from her salary, then I am confident a bank will give here the money.

If she borrowed the money in an act of emergency, without thinking about the consequences of not being able to pay the 20% p.month, I believe, she could still go to the bank and take the land as a collateral to get the 250000 and pay it back in installments.

1. She needs to get off the 20% interest, that would otherwise ruin her financially in no time.

2. If she can pay back a normal loan from a bank go this route.

If her income doesn't allow her to even pay back a normal loan, then she might have to look into selling this land.

I neither know you and your means, nor do I know her and your relationship, so i could only advise to be very careful about providing the cash yourself!

If you know her very well (that is, sure you are not being setup) and losing 250000 is something you could tolerate and are willing to take that risk, you could provide some breathing space. But be careful!

Edited January 18, 2009 by yongli