Scully Posted February 25, 2012 Share Posted February 25, 2012 I have a Thai friend who bought a new car on finance, her mother then borrowed 150000baht by giving the car to someone else. The car is now hidden and the mother pays the keeper of the car interest at a silly amount. The car loan company has not been payed for several months and now want to reposes the car, this being impossible as it's not with her. She is worried sick she will be taken by the police etc etc. Her mother is a gambler and they have no way of getting 150000 baht together to get the car. What does she say to the finance people when they arrive for the car, and what is likely to happen to her?. I know she is a silly cow for letting her mother do it but that is Thai girls. Link to comment Share on other sites More sharing options...
bino Posted February 25, 2012 Share Posted February 25, 2012 I don't know what will happen as far as the finance company is concerned, but I find it interesting that the loan shark took the car without the green book, that would still be in the hands of the finance company who actually own the car until it is fully paid. The loan shark won't be able to sell the car legally- chop the car up for parts or sell it over the border in Cambodia would be the only way way they could recover their "capital". Link to comment Share on other sites More sharing options...
transam Posted February 25, 2012 Share Posted February 25, 2012 Looks like a bad situation. The Police will be involved and the money lenders will be grassed up to get the motor back causing another big problem. Unless you have some spare dosh l would stay well away. Link to comment Share on other sites More sharing options...
katabeachbum Posted February 25, 2012 Share Posted February 25, 2012 Her credit score is screwed anyway. I would tell finance everything. If she knows location of car, she should tell finance. She should aslo agree in repos, saves fees for court case added to her debt. With an agreed repos, finance can get a court order (cheap and done in 3 days) to take car wherever found, even at private property She should also consider reporting her mum for car theft and all this should be done asap, before the sharks sell (export) or chop the car, then the girl is in deep shit Link to comment Share on other sites More sharing options...
rgs2001uk Posted February 25, 2012 Share Posted February 25, 2012 Not yet been mentioned, who acted as guarantor on the loan? Another aspect, is this yet another sick buffalo story? Is there any evidence to prove the loan? Sounds like the house could be next. Is the father aware of what has happened, he could be held liable. Link to comment Share on other sites More sharing options...
Scully Posted February 25, 2012 Author Share Posted February 25, 2012 Not yet been mentioned, who acted as guarantor on the loan? Another aspect, is this yet another sick buffalo story? Is there any evidence to prove the loan? Sounds like the house could be next. Is the father aware of what has happened, he could be held liable. The Guarantor was her Auntie, I am not getting involved and she knows this so its not a sick buffalo story (although it has all the signs). I am not seeing her she is a friend. She does not know where the car is and was 21 when she got the credit (crazy) a few lies told. Her Auntie is in no position to pay. It's a bit of a mad situation and we all know what happens to those that grass on loan sharks. The loan sharks took the car to guarantee they would get their 20000 baht a month interest. Any more advice welcome because to me its a very tangled web. Link to comment Share on other sites More sharing options...
bino Posted February 25, 2012 Share Posted February 25, 2012 Best advice: don't get involved. Link to comment Share on other sites More sharing options...
Scully Posted February 25, 2012 Author Share Posted February 25, 2012 Best advice: don't get involved. Don't worry I am 50 kilos away and it's staying that way Link to comment Share on other sites More sharing options...
mstribling Posted February 25, 2012 Share Posted February 25, 2012 Best advice: don't get involved. And change your SIM card. Link to comment Share on other sites More sharing options...
stevenl Posted February 25, 2012 Share Posted February 25, 2012 Whatever happens here won't solve the problem. Her mother has a big debt with loan sharks, that debt has to be paid off asap. And with the way things work here in Thailand, her daughter will have to do that, hopefully together with other siblings. And after that they have to find a way to prevent their mother from incurring more debts, or this will keep going on and on. Link to comment Share on other sites More sharing options...
manarak Posted February 25, 2012 Share Posted February 25, 2012 Best advice: don't get involved. seconded. let the Thais sort it out. Link to comment Share on other sites More sharing options...
Scully Posted February 25, 2012 Author Share Posted February 25, 2012 Whatever happens here won't solve the problem. Her mother has a big debt with loan sharks, that debt has to be paid off asap. And with the way things work here in Thailand, her daughter will have to do that, hopefully together with other siblings. And after that they have to find a way to prevent their mother from incurring more debts, or this will keep going on and on. This is exactly as I see it, they have put their home up for sale so the best outcome would be a quick sale and everyone happy. The mother has promised to stop gambling which won't happen but still thanks for your input, plus I believe you have told me what I already know they are up the creak without a paddle. Never mind. Link to comment Share on other sites More sharing options...
transam Posted February 25, 2012 Share Posted February 25, 2012 Just glad your not involved cos for sure. Link to comment Share on other sites More sharing options...
kartman Posted February 25, 2012 Share Posted February 25, 2012 Is there a Bank is hot on the trail of the Finance Co but for the house?. Link to comment Share on other sites More sharing options...
Scully Posted February 25, 2012 Author Share Posted February 25, 2012 Is there a Bank is hot on the trail of the Finance Co but for the house?. Her mother has borrowed money on the house as well, about 1/2 million baht. You couldn't make it up. Trouble is the house will be in fathers name and not the daughters name so the daughter is up shit creak. Link to comment Share on other sites More sharing options...
transam Posted February 25, 2012 Share Posted February 25, 2012 Is there a Bank is hot on the trail of the Finance Co but for the house?. Her mother has borrowed money on the house as well, about 1/2 million baht. You couldn't make it up. Trouble is the house will be in fathers name and not the daughters name so the daughter is up shit creak. NOT a happy ending. Link to comment Share on other sites More sharing options...
kartman Posted February 25, 2012 Share Posted February 25, 2012 Is there a Bank is hot on the trail of the Finance Co but for the house?. Her mother has borrowed money on the house as well, about 1/2 million baht. You couldn't make it up. Trouble is the house will be in fathers name and not the daughters name so the daughter is up shit creak. So the mother borrowed from loan sharks? Link to comment Share on other sites More sharing options...
WarpSpeed Posted February 25, 2012 Share Posted February 25, 2012 Her credit score is screwed anyway. I would tell finance everything. If she knows location of car, she should tell finance. She should aslo agree in repos, saves fees for court case added to her debt. With an agreed repos, finance can get a court order (cheap and done in 3 days) to take car wherever found, even at private property She should also consider reporting her mum for car theft and all this should be done asap, before the sharks sell (export) or chop the car, then the girl is in deep shit Hope it isn't an older model Yota Corona as I saw one in great shape on Taladrod the other day and the price was suspiciously low so we called about it knowing it's value should have been much higher to see if it was typo, flood or to flip purchase. They told us the car was without blue book.. Link to comment Share on other sites More sharing options...
katabeachbum Posted February 25, 2012 Share Posted February 25, 2012 Is there a Bank is hot on the trail of the Finance Co but for the house?. Her mother has borrowed money on the house as well, about 1/2 million baht. You couldn't make it up. Trouble is the house will be in fathers name and not the daughters name so the daughter is up shit creak. So the mother borrowed from loan sharks? borrow on the house, they want chanote as collateral If she has the guts, fight the sharks, she will win in court, max legal interest in Th is presently less than 3% a month Link to comment Share on other sites More sharing options...
aussiebebe Posted February 25, 2012 Share Posted February 25, 2012 If the OP wanted to help, the services of a local law firm to give professional advice about the situation would be invaluable and inexpensive. Link to comment Share on other sites More sharing options...
kartman Posted February 25, 2012 Share Posted February 25, 2012 Is there a Bank is hot on the trail of the Finance Co but for the house?. Her mother has borrowed money on the house as well, about 1/2 million baht. You couldn't make it up. Trouble is the house will be in fathers name and not the daughters name so the daughter is up shit creak. So the mother borrowed from loan sharks? borrow on the house, they want chanote as collateral If she has the guts, fight the sharks, she will win in court, max legal interest in Th is presently less than 3% a month Hows she going to pay them if she can't count the money. Link to comment Share on other sites More sharing options...
BSJ Posted February 26, 2012 Share Posted February 26, 2012 Stupid is a global phenomena.....and it's spreading! Link to comment Share on other sites More sharing options...
Digitalbanana Posted February 26, 2012 Share Posted February 26, 2012 A common trick in Thailand where there is a saying that if ones smells shi_t, then walk away. I'd sever all contacts with people of this kind and worry less. Life is too short. Link to comment Share on other sites More sharing options...
stevenl Posted February 26, 2012 Share Posted February 26, 2012 A common trick in Thailand where there is a saying that if ones smells shi_t, then walk away. I'd sever all contacts with people of this kind and worry less. Life is too short. So when a friend needs you, and I'm not talking financially, you cut all ties? Am I glad you're not my friend. Link to comment Share on other sites More sharing options...
transam Posted February 26, 2012 Share Posted February 26, 2012 A common trick in Thailand where there is a saying that if ones smells shi_t, then walk away. I'd sever all contacts with people of this kind and worry less. Life is too short. So when a friend needs you, and I'm not talking financially, you cut all ties? Am I glad you're not my friend. Think DB was referring to money stuff. And l agree. Link to comment Share on other sites More sharing options...
stevenl Posted February 26, 2012 Share Posted February 26, 2012 A common trick in Thailand where there is a saying that if ones smells shi_t, then walk away. I'd sever all contacts with people of this kind and worry less. Life is too short. So when a friend needs you, and I'm not talking financially, you cut all ties? Am I glad you're not my friend. Think DB was referring to money stuff. And l agree. What money stuff, there seems to be no money stuff involved for the TS. Link to comment Share on other sites More sharing options...
sparebox2 Posted February 29, 2012 Share Posted February 29, 2012 Why don't you help to pay up all the debt, on condition that she does not borrow again, without your permission. Link to comment Share on other sites More sharing options...
MoonRiverOasis Posted February 29, 2012 Share Posted February 29, 2012 Why don't you help to pay up all the debt, on condition that she does not borrow again, without your permission. What a noble and completely stupid idea No offence, I'm sure you were joking Link to comment Share on other sites More sharing options...
transam Posted February 29, 2012 Share Posted February 29, 2012 Why don't you help to pay up all the debt, on condition that she does not borrow again, without your permission. What a noble and completely stupid idea No offence, I'm sure you were joking Noooooooooooo, he's Thai. Link to comment Share on other sites More sharing options...
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