Badly Badly Let Down Today. Need 550k Quicker Than A Quick Thing, Any Ideas.

[katabeachbum]

If you have a car with book (not financed), you can get cash in a couple of hours from Tanachart, Tisco or carforcash. Less than 0,9 % a month.

Good luck

[CWMcMurray]

What about cash advances on credit cards?

Never a great idea, but if you are willing to pay 20% and are sure that you can pay back after a few months it might be the right option for you.

[Theyreallrubbish]

If you have a car with book (not financed), you can get cash in a couple of hours from Tanachart, Tisco or carforcash. Less than 0,9 % a month.

Good luck

As a foreigner he needs a guarantor and the guarantor must have 6 month bank statements showing good enough income.

I am curious about these services. Anybody have any experience with them? They're quoting an interest rate of 5.5% which seems cheap

[churchill]

Firstly, there is enough stress, in fact, approaching cardiac levels, without the smart ass comment brigade entertaining themselves with their own perceived wit and repartee. So please don't post if that's you, just resist the urge this is a genuine problem.

The last payment is due on my house today (from me) 550K Bht will release another 1 mill from the bank, the house will be complete in 4 weeks with a full crew in there from tomorrow. A friend who has owed me 15K sterling for a while, promised me faithfully he would transfer me the money yesterday. He did not and is currently 'uncontactable' . I have had 24 hours of wailing women, crying and sobbing, about the shame, the loss of face blah blah, and whilst the businesman in me can take a hard pragmatic view of everything the heart in me empathyses with them fully, over letting our excellent builder down. They (Wife and MIL) have been making frantic phone calls without success (funny thing about Thai culture I have learned, they all want Good luck, but hate to see the good fortune of others and love to see when it goes even slightly wrong for others!), so it is going to be down to me to fix. For what is a trivial amount of money relatively speaking, this has caused a lot of problems, and currently I am unable to find extra cash to cover this for approximately two to three months, as I thought the issue was solved.

Any idea's from those who have lived here a while. I cannot go to the bank, but they will release considerable equity on the property once it is completed, that is guaranteed. I need 550K and want to repay in three to four months and am willing to include a 15-20% return rate. The amount of money can be secured here in Thailand. Any ideas? Every positive reply will reduce my blood pressure 5 points.

I don't know if there is any help out there, sorry for the diatribe, maybe I have written so much because I don't have another person to talk to in my own language. I feel a bit isolated at the mo, at least Thai Visa can serve as an agony Aunt Can anyone help the Widows Son.

Can you not renegotiate with the builders to delay payment and completion by say 1 Month ( perhaps offering a small cash payment for delay ) to give you time to sort this out ?

[jerrylee]

Soutpeel

The car is a good idea, but I may be able to secure the cash this weekend and just leave the car as collateral, just waiting for a confirmation call. Fingers crossed. You describe the people I mentioned very aptly. You are the first person to put a smile on my face today, thanks. It is a sad trait of humanity that when others are down on their a**e some people find it entertaining and fun. What sad lives. Just so they can gloat a little more, the amount of money I have lost in the last year with the almost complete collapse of an aviation business I had has been scary, but then again, who could have legislated for the oil prices, aviation problems, crippling exchange rates, investment portfolio collapses and the global credit crunch all within the same 12 months. Have a good weekend Soutpeel.

lannarebirth

I appreciate that, I don't know who they are but will send a PM thanks a lot.

Not the common loan shark money lenders!!!, there are lots of finance companies like TISCO etc etc, but most of them in Thai names, you only use your car registration book as collateral and have to do a name change, but you still get to keep and use the car. They also prefer to do these 12 months payback contracts.

Their clients normally are middle class civil service or teachers etc. and not builders/farmers or people who cant read nor understand lengthy contracts, they also have middlemen agents who'll charge you 3,000- to provide a solid lead to the finance companies.

Good luck,

[Tigs]

Churchil

Can you not renegotiate with the builders to delay payment and completion by say 1 Month ( perhaps offering a small cash payment for delay ) to give you time to sort this out ?

You are a man after my own heart. That is exactly the sensible down to earth approach that I have tried to convince my family of over the last couple of days, but to no avail. As far as I am concerned that is the practical solution. The dichotomy though is that the cultural issue has come in to play. Face seems to be everything. My wife and MIL are wonderful people, well respected in the community and personal friends with the Governor, the Chief of Police etc and they have the overwhelming urge that in the face of adversity everything must continue 'as normal'. I respect that in a way, it smacks back to the old British 'stiff upper lip' attitude of just get on with it. As I am indirectly responsible for this situation I have enough respect and commitment to them to try and play by their rules and fix the short term issue in line with their culture and retain their face which seems more valuable than any amount of money. It is difficult in such a close community full of gossip, where I am sure that the locals know what colour underwear I (the Farang) have on within 30 mins of me getting out of bed. Ordinarily these are endearing qualities in Thai people, at the moment though the self same qualities are a little trying to say the least.

Breaking News!

I started typing this 40 mins ago, whilst typing we have just had a direct Lightning strike in the garden! The downstairs TV has just blown up and the womenfolk downstairs, whom I had calmed down over the last 48 hours are now up at fever pitch again. Doh! I am scratching my head and drawing a blank but I am beginning to think I have done something to upset God!

Jerry

Thanks

[ivowatson]

Can you not renegotiate with the builders to delay payment and completion by say 1 Month ( perhaps offering a small cash payment for delay ) to give you time to sort this out ?

The last 2 suggestions are excellent and should solve your problem.

Any reasonable and sensible builder would agree especially with the (not so small) cash payment and the car + book as collateral.

Or a finance co. would cost you even less and you can still use your car.

But something tells me you won't take any of these options. I'm not sure why.

[Tigs]

Ivo

But something tells me you won't take any of these options. I'm not sure why.

I think you must have been typing whilst I was typing. Please see above I am trying everything believe me, and my first port of call would be just to speak with the builder. Please not from my post above yours the complications. Thanks

[Benjie]

Are you sure the house will be 100% complete, to your satisfaction - perhaps you will find some faults that need rectifying before they can take final payment.

[Tigs]

Are you sure the house will be 100% complete, to your satisfaction - perhaps you will find some faults that need rectifying before they can take final payment.

Good point Benjie

I am living 2 minutes from the project at the moment (makes it all harder in a way), the builder has a 1 Mil Baht bankers draft lodged with the bank in case of any snags as a guarantee.

[Time Traveller]

Churchil

Can you not renegotiate with the builders to delay payment and completion by say 1 Month ( perhaps offering a small cash payment for delay ) to give you time to sort this out ?

You are a man after my own heart. That is exactly the sensible down to earth approach that I have tried to convince my family of over the last couple of days, but to no avail. As far as I am concerned that is the practical solution. The dichotomy though is that the cultural issue has come in to play. Face seems to be everything. My wife and MIL are wonderful people, well respected in the community and personal friends with the Governor, the Chief of Police etc and they have the overwhelming urge that in the face of adversity everything must continue 'as normal'. I respect that in a way, it smacks back to the old British 'stiff upper lip' attitude of just get on with it. As I am indirectly responsible for this situation I have enough respect and commitment to them to try and play by their rules and fix the short term issue in line with their culture and retain their face which seems more valuable than any amount of money. It is difficult in such a close community full of gossip, where I am sure that the locals know what colour underwear I (the Farang) have on within 30 mins of me getting out of bed. Ordinarily these are endearing qualities in Thai people, at the moment though the self same qualities are a little trying to say the least.

Breaking News!

I started typing this 40 mins ago, whilst typing we have just had a direct Lightning strike in the garden! The downstairs TV has just blown up and the womenfolk downstairs, whom I had calmed down over the last 48 hours are now up at fever pitch again. Doh! I am scratching my head and drawing a blank but I am beginning to think I have done something to upset God!

Jerry

Thanks

Wonderful people? It seems like your family are more worried about their appearing to "have endless money" in front of a stranger (the builder) then they are actually caring about the situation their own family member has been put in. I'm guessing this is your first home, cash flow problems happen all the time in the building industry and put your family members into line then delay the project until the finance comes. Of course the builder will complain, but then you should remind him who the paying customer is.

[torrenova]

I think the ones telling you how foolish you are havent got a pot to piss in and are jealous you have got as far as you have,. bitter and twisted?. i think so,..millionaires or peasants, it hurts not to be nice does it ?.....thailand is an awful place to be short of money,i would hate to HAVE to buy sell/or borrow whilst here, seems you have the opportunist idiots that will lend you at a stupid ratethat end up rich corpses and those that are potless and couldnt lend you a fiver, but are great at critisising,.

Ther are always some though aren't there who have one bank card and complain when the foreign ATM swallows it up. The same people don't have travel insurance and yet bleat on about all the problems which were not their fault when they had a medical crisis. Lack of planning, having a contingency and actually thinking ahead are not rocket science degrees taught at one university on the planet but rather normal things people tend to accumulate over time.

I wouldn't build a house in the UK, or elsewhere so why on earth would I think I could do so in Thailand ? I can run businesses but I have experience in that line. The OP goes on about millions of baht here and there and now a million deposited for overspends (why not just use that ?) but waited until the last minute to find 550k and then went asking strangers on an internet forum ! I don't think that is prudent.

[torrenova]

torrenova

I could phone a UK bank and have a 10k overdraft put on an account on the strength of my standing.

well I am elated for you. I am not you and my bank know I live here and they will not do anything right now ie immediately which is what is required, not just for me by the way. It is futile telling me what you can do.

Then you have to question your banking arrangements (I also live in Thailand but was talking about banks in the UK and Singapore) if 500k or so is beyond your bank's capability.

Can't you just get that ona credit card ? or from multiple cards if you have to ? That would seem the easiest plan.

[losworld]

Hate to say it but if I had a wife and family that concerned over face I would leave the house and run for the hills. This is only stage one. Stage two, three, four, five, etc. will all involve countless expenditures to keep up with the neighbours.

Sorry to hear about any failing business. Why go all the way to Thailand to play "keep up with the Jones?"

[hhgz]

If you have any valid credit cards, you could max out the cash advances.

[stiggy]

I had a similar problem cash flow when building....

I sat down with the builder explained that I have money just been let down and it will take a week or two to fix.

I offered to go to the suppliers and explain its my fault not his.

I explained that I understand his team will have to work elsewhere ,and if not i would pay compensation at 300 bht per day each(for the laborers and more for the skilled workers etc.(total 20K)

I then got out the obligatory regency and crates of chang ...

End result The building company owner carried on with the work and offered to lend me some cash to get buy and we are still good mates.

I fully hope you get this sorted Builders generally understand cashflow can be an issue ,most are in the shiite right now that are building for westerners due to exchange rate.

As for your family and loss of face ! once you have the builder on side let him explain its not a problem.

Good luck im sure it will all work out.

Finally that's no mate that ignores your calls for help even if he dosent have the cash to give you...

[Texpat]

If it's a 12M house, the builder ain't gonna sweat 500K being a few weeks late.

Tell the ladies to chill and find someone who can go with you to have a chat with the builder.

Their hysterics aren't useful at the moment.

[Tigs]

The problem is solved thanks. To those of you that offered advice, I am grateful. Stiggy I pretty much went down your line and offered an interim amount to keep him and the labourers happy. Everything sorted, and Texpat you are correct, the hysterics by the women were not helping. They calmed down in the end. Thanks to you all.

To those who commented about my family. They were being a bunch of over sensitive types, thats all, and there is nothing on earth that would pursuade me to 'run a mile' or indeed swop any of them or my life with them at any cost. Time Traveller, the builder is not a complete stranger, that would have made things very simple. He has known the family for many years and holds them in incredibly high regard. They are pillars of the community, so if nobody can understand their dilema then I guess, you don't know too much about the true nature of Thai people. They are all salt of the earth. Three nights ago I was called downstairs to find 4 of them with their entire months salary each and all their jewellery in front of them, because they wanted to help me. With a lump in my throat the size of a durian and completely humbled I said no thanks, it will all be fine soon. So Losworld, I am not keeping up with the Joneses nor are we trying to out do the neighbours. The last 12 months have been the 'annus horiblis' thats all, and if you have never had one then when it does come in whatever form you will find that no amount of legislating for problems will avoid it when a whole series of issues occur together.

To those of you that were full of critisim and flames, I said at the start I was asking for advice. Am out here, alone in terms of being a farang and took the opportunity to ask the advice of many people on a popular internet forum that is anonymous. I asked that if you had nothing constructive to offer then bypass the thread and don't comment, I neither asked for nor wanted the hasle. Teranova, I was asking peoples advice, not asking for their money. I do not care one iota that you wouldn't build a house in the UK so therefore neither would you here. I guess you are well insured medically, which is good, because your soap box is very high, and one day you will fall off it and those around you may well be inclined to not break your fall.

Once again to those that helped thanks, and for the supportive pm's. Some of you are very good chaps indeed. I will send an invite out to you for the first BBQ and Beers.

[Chaimai]

As one who criticised you for not having a fall-back position I would just like to say that I am very pleased that you managed to resolve matters, good luck with the rest of the house project.

Good job there have been a couple of 'dry' days, otherwise you may have turned to drink

[Benjie]

Well done - glad it all worked out for the best in the end, don't worry about the naysayers.

[losworld]

The problem is solved thanks. To those of you that offered advice, I am grateful. Stiggy I pretty much went down your line and offered an interim amount to keep him and the labourers happy. Everything sorted, and Texpat you are correct, the hysterics by the women were not helping. They calmed down in the end. Thanks to you all.

To those who commented about my family. They were being a bunch of over sensitive types, thats all, and there is nothing on earth that would pursuade me to 'run a mile' or indeed swop any of them or my life with them at any cost. Time Traveller, the builder is not a complete stranger, that would have made things very simple. He has known the family for many years and holds them in incredibly high regard. They are pillars of the community, so if nobody can understand their dilema then I guess, you don't know too much about the true nature of Thai people. They are all salt of the earth. Three nights ago I was called downstairs to find 4 of them with their entire months salary each and all their jewellery in front of them, because they wanted to help me. With a lump in my throat the size of a durian and completely humbled I said no thanks, it will all be fine soon. So Losworld, I am not keeping up with the Joneses nor are we trying to out do the neighbours. The last 12 months have been the 'annus horiblis' thats all, and if you have never had one then when it does come in whatever form you will find that no amount of legislating for problems will avoid it when a whole series of issues occur together.

To those of you that were full of critisim and flames, I said at the start I was asking for advice. Am out here, alone in terms of being a farang and took the opportunity to ask the advice of many people on a popular internet forum that is anonymous. I asked that if you had nothing constructive to offer then bypass the thread and don't comment, I neither asked for nor wanted the hasle. Teranova, I was asking peoples advice, not asking for their money. I do not care one iota that you wouldn't build a house in the UK so therefore neither would you here. I guess you are well insured medically, which is good, because your soap box is very high, and one day you will fall off it and those around you may well be inclined to not break your fall.

Once again to those that helped thanks, and for the supportive pm's. Some of you are very good chaps indeed. I will send an invite out to you for the first BBQ and Beers.

Glad it worked out for you. I am impressed by the months salary and jewelry on the table but still at a loss to understand the concern over what others will think. Obviously you concerned yourself with getting the house built and I must commend you for your honesty and courage in spelling out your troubles on a public forum. Kudos and good luck.

[likewise]

Good on ya mate that you got it sorted.

As others have said don't worry about all the negativists around here, sadly enough lots of them walking the LOS pavements, very easy to ignore them though

[steelepulse]

You also might for the future get a line of credit from the thai bank for such emergencies.  Kbank gave us a checkbook and a nice line of credit at reasonable interest rates for just such emergencies.

[Lopburi99]

I've had my ass in a financial pickle before and it's awful. The critics and vultures are circling about, adding insult to injury when they don't know all the facts or why you had made certain decisions.

My experience has been not to let others hype you out, just stay cool.

I'm really glad TV helped you solve the problem, terrific bunch of guys and gals here.

[simon43]

Good advice from Steelepulse. Your problem has been solved - for now. But unexpected issues might arise in the future, and you will avoid a lot of stress if you sort out some alternative back-up finance now.

(This advice from someone who has never followed his own advice and has been in financial sh*t many times!!)

Simon

[Tigs]

Thanks Guys, some of you really do restore faith in Human Nature. Have a great weekend, I am ready for mine..Wheeeew!

[moe666]

Something about friends and borrowed money call,call,call, until they get the cash and good luck finding them to pay up. Glad to hear you worked it out.

[Scott]

Inflammatory and unconstructive post deleted.