Bankrupcy

[Jing Joe]

Hi all

Dont know if this is where to start but here goes.

My Thai wife is now an Australian citizen and some 8 years ago the Thai Bank foreclosed on her BKK house because of insufficient loan payments.

The value of the house far exceeded the loan debt but she walked out and assumed they would sell it and keep the profit.

She only discovered recently the Bkk courts declared her bankrupt, probably bought on by the bank.

Didn't know someone else declare you bankrupt?

The house has beeen sold (could have been a shady deal too?) but the bank claims there is 1.6 million baht interest owing.

This bankrupt status may cancel in November this year being at least 5 years on from the order. Unsure of this and other details.

Problem is;- in the mean time there is a possibility that thay may not let her out of Thailand if she takes a short holiday there.

Could they also hold her if passing through Bkk airport en route to Europe and/or the return trip to Australia?

The Thai immigration wont renew her Thai passport (not that she needs it) because of the bankrupt status.

Can anyone shed some light on this please?

Jing Joe

[craigt3365]

Hmmm....you seem to have 2 issues to discuss here. Visas and banking. I think the visa one is more important, so let's move this over to the visa forum. If you don't get your questions answered for the bankruptcy part, I suggest starting a new topic on that in the Banking forum.

I think you'll do better with this in the visa forum as the experts monitor that on a regular basis.

Topic Moved.

[Thanyaburi Mac]

Jing

Don't know about the bankruptcy issue but it's not Thai Immigration that renews Thai passports, it's the Foreign Ministry. Or, if out of country, can do so at the Thai Embassy. So, has the Thai Embassy in Oz declined to renew her passport?

Sounds like she'll be traveling on an Oz passport so I'd think (?) not a problem. But, better to let a more knowledgeable person here on the forum address this issue.

Mac

[Mario2008]

She is a Thai national, traveling on a Thai passport or not.

Bankruptcy is not a criminal offence, although there might be provisions in the law not allowing her to leave the country. But that would need a specific court order.

For this question I would advise to contact a competent lawyer.

[lopburi3]

If there is an arrest warrant do not believe entry passport is going to be any defense (as proven by recent actions on an American citizen). Oz can have access and assist but it is not a get out of jail card. And contrary to popular belief if you land in Thailand am quite sure you are in Thailand so being in transit would not necessary be a defense (but I highly doubt they would be checking on a debtor that closely).

[ludditeman]

I believe it is 10 years until all the possible penalties expire.

Then the loan is effectively written off.

Usually she will get a written demand for the money every year, delivered to the the address she has her name in the house book.

Any vehicles or property in her name, or money in a bank account with her name in Thailand may be seized as part payment until that 10 years has expired.

After that she can apply for loans and mortgage again.

Sorry don't know about passport.

Edited January 5, 2012 by ludditeman