Chiang Mai State Pawnshops Prepare Bt120 Mil For New School Year

[webfact]

State pawnshops prepare THB120 mil for new school year

CHIANG MAI, 3 May 2012 (NNT) The Chiang Mai Pawnshop Office has prepared a 120 million-baht cash reserve for locals who will be depositing their belongings in exchange for money during the start of the new school year.

A Chiang Mai Pawnshop official has expressed confidence that there will be sufficient cash reserve for those planning to pawn their belongings at the state-operated pawnshops as the new school year starts. A cash reserve of 120 million baht has been allocated by the Chiang Mai Municipality to the province’s three state pawnshops. Each office will be granted a cash reserve of 40 million baht; however, if the amount is insufficient, the Chiang Mai Municipality is ready to consider granting them an extra 10 million baht each.

At present, there is already a 10% increase in the number of pawnshop clients. Most personal effects being pawned include gold, watches and miscellaneous products. The state pawnshop office has currently set the limit of no more than 500,000 baht for each individual.

At the same time, the public are encouraged to pawn their belongings at a state-operated pawnshop as they risk facing high interest rates and property loss if dealing with non-traditional pawnbrokers.

-- NNT 2012-05-03

[TeddyFlyfisherDavis]

This is disturbing to read...Why don't they just take out student loans and just never pay them back just like in America...It's ok...Really... (sarc)

[bangon04]

Maybe give them a credit card too... what a way to run a country...

[necronx99]

This is disturbing to read...Why don't they just take out student loans and just never pay them back just like in America...It's ok...Really... (sarc)

Are you suggesting that going $250k into debt to get an arts degree was a bad investment?

Sent from my iPad using ThaiVisa app

[khaowong1]

Amazing Thailand, or is that Miracle Thailand?

[BigJohnnyBKK]

Who knew Thailand had state-sponsored pawnshops? Wow.

Anyone aware of other countries that do this?

[TeddyFlyfisherDavis]

This is disturbing to read...Why don't they just take out student loans and just never pay them back just like in America...It's ok...Really... (sarc)

Are you suggesting that going $250k into debt to get an arts degree was a bad investment?

Sent from my iPad using ThaiVisa app

Now that made me laugh...and how ironic...I almost did just that. (the arts degree). I chose mechanical engineering instead..

[belg]

now they just need some maffia to take over those pawnshops, a bit like the parking concession at suvi...

so governement here learnt from loansharks... looooool

what an AMAZING, sorry, MIRACLE country this is

[Jimjim]

This is disturbing to read...Why don't they just take out student loans and just never pay them back just like in America...It's ok...Really... (sarc)

Are you American?

Never paying back your student loans is a bad idea. It will always drag your credit way down and even if you declare bankruptcy, one of the only things that you still have to pay back is student loans. They never go away.

I've known tons and tons of people who went to college/uni in the U.S., myself included, and never heard of anyone defaulting on their student loans. Bad idea...

But yeah, the whole pawn shop thing in Thailand is very popular. Always looking for that last bit of money. I went to one with my Thai girlfriend and her niece once, the niece was reclaiming some jewelry she had pawned there. I guess it's just a different way of getting a loan and paying back interest. Basically like borrowing on collateral of a car or house but just a smaller amount and less official.

Different strokes for different folks...

edit: Well I assume you were just making a joke about the student loans...anyway

Edited May 4, 2012 by Jimjim

[TeddyFlyfisherDavis]

This is disturbing to read...Why don't they just take out student loans and just never pay them back just like in America...It's ok...Really... (sarc)

Are you American?

Never paying back your student loans is a bad idea. It will always drag your credit way down and even if you declare bankruptcy, one of the only things that you still have to pay back is student loans. They never go away.

I've known tons and tons of people who went to college/uni in the U.S., myself included, and never heard of anyone defaulting on their student loans. Bad idea...

But yeah, the whole pawn shop thing in Thailand is very popular. Always looking for that last bit of money. I went to one with my Thai girlfriend and her niece once, the niece was reclaiming some jewelry she had pawned there. I guess it's just a different way of getting a loan and paying back interest. Basically like borrowing on collateral of a car or house but just a smaller amount and less official.

Different strokes for different folks...

edit: Well I assume you were just making a joke about the student loans...anyway

Yes Jim I am American...(don't tell anyone)...I agree with you 100%. I read a article about a month back from the states regarding student loans not being paid back from people my age (60) and over. I was somewhat surprised and can't for the life of me understand why some people are so irresponsible. It truly is a burden not only the person that owes but also on the government...It turns out to be one more nail in the coffin of the over all debt I feel. Bad news all around. And yes I was being sarcastic...If a group of individuals are willing to share their knowledge, then you as the recipient of that knowledge, should have the decency to do you due diligence. That means paying back.

[TeddyFlyfisherDavis]

now they just need some maffia to take over those pawnshops, a bit like the parking concession at suvi...

so governement here learnt from loansharks... looooool

what an AMAZING, sorry, MIRACLE country this is

We all complain about it, but yet we stay...Why...because we like it here and love to complain...

[necronx99]

This is disturbing to read...Why don't they just take out student loans and just never pay them back just like in America...It's ok...Really... (sarc)

Are you American?

Never paying back your student loans is a bad idea. It will always drag your credit way down and even if you declare bankruptcy, one of the only things that you still have to pay back is student loans. They never go away.

I've known tons and tons of people who went to college/uni in the U.S., myself included, and never heard of anyone defaulting on their student loans. Bad idea...

But yeah, the whole pawn shop thing in Thailand is very popular. Always looking for that last bit of money. I went to one with my Thai girlfriend and her niece once, the niece was reclaiming some jewelry she had pawned there. I guess it's just a different way of getting a loan and paying back interest. Basically like borrowing on collateral of a car or house but just a smaller amount and less official.

Different strokes for different folks...

edit: Well I assume you were just making a joke about the student loans...anyway

Yes Jim I am American...(don't tell anyone)...I agree with you 100%. I read a article about a month back from the states regarding student loans not being paid back from people my age (60) and over. I was somewhat surprised and can't for the life of me understand why some people are so irresponsible. It truly is a burden not only the person that owes but also on the government...It turns out to be one more nail in the coffin of the over all debt I feel. Bad news all around. And yes I was being sarcastic...If a group of individuals are willing to share their knowledge, then you as the recipient of that knowledge, should have the decency to do you due diligence. That means paying back.

I wasn't joking in my post about the 250k. One of the 99%'ers actually had on her little whinge paper that she was 270k in debt after getting her arts degree with a postgrad in humanities or some crap. What possible options would she have employment wise to get rid of that monkey? Why would they let someone go into so much debt for an essentially worthless degree? .

[TeddyFlyfisherDavis]

This is disturbing to read...Why don't they just take out student loans and just never pay them back just like in America...It's ok...Really... (sarc)

Are you American?

Never paying back your student loans is a bad idea. It will always drag your credit way down and even if you declare bankruptcy, one of the only things that you still have to pay back is student loans. They never go away.

I've known tons and tons of people who went to college/uni in the U.S., myself included, and never heard of anyone defaulting on their student loans. Bad idea...

But yeah, the whole pawn shop thing in Thailand is very popular. Always looking for that last bit of money. I went to one with my Thai girlfriend and her niece once, the niece was reclaiming some jewelry she had pawned there. I guess it's just a different way of getting a loan and paying back interest. Basically like borrowing on collateral of a car or house but just a smaller amount and less official.

Different strokes for different folks...

edit: Well I assume you were just making a joke about the student loans...anyway

Yes Jim I am American...(don't tell anyone)...I agree with you 100%. I read a article about a month back from the states regarding student loans not being paid back from people my age (60) and over. I was somewhat surprised and can't for the life of me understand why some people are so irresponsible. It truly is a burden not only the person that owes but also on the government...It turns out to be one more nail in the coffin of the over all debt I feel. Bad news all around. And yes I was being sarcastic...If a group of individuals are willing to share their knowledge, then you as the recipient of that knowledge, should have the decency to do you due diligence. That means paying back.

I wasn't joking in my post about the 250k. One of the 99%'ers actually had on her little whinge paper that she was 270k in debt after getting her arts degree with a postgrad in humanities or some crap. What possible options would she have employment wise to get rid of that monkey? Why would they let someone go into so much debt for an essentially worthless degree? .

Wanted to say that I thought you were 50/50 in the 250k thing...I agree with you. Museums are far from hiring and if she has any inclination to teach then what would it be ? Humanities degrees might have been good back in the 60's but even then, only if you wanted to be a priest...(sarc) I myself almost made the same mistake...the arts degree, but chose mechanical engineering instead...My loans are paid for and long ago at that. The people that hand over these loans should perhaps reflect on what someone will do with this "worthless degree". It truly is worthless...I could go on but...Thumbs up.

[purushanti]

Humanities degrees perhaps not very useful to support the motivations of power, greed, and ego. Nevertheless, refinement of heart and mind could bring one into a wholeness that more easily expresses universal values of loving kindness, compassion, sympathetic joy, etc. Yes, maybe not very practical, nor very supportive of a phyical-emotional being, but fostering of a tendency to live, think, and act more on the mental-spiritual levels to the benefit of other selves.

And perhaps one cold save a lot of cash by forgoing the degree, and educating oneself in response to the prompting from the intuition within each distict individual.

Edited May 4, 2012 by purushanti

[mamborobert]

Humanities degrees perhaps not very useful to support the motivations of power, greed, and ego. Nevertheless, refinement of heart and mind could bring one into a wholeness that more easily expresses universal values of loving kindness, compassion, sympathetic joy, etc. Yes, maybe not very practical, nor very supportive of a phyical-emotional being, but fostering of a tendency to live, think, and act more on the mental-spiritual levels to the benefit of other selves.

And perhaps one cold save a lot of cash by forgoing the degree, and educating oneself in response to the prompting from the intuition within each distict individual.

And there we have it.....put simply if nothing else a BA will keep you warm at night.

BA = Bugger All

[hellodolly]

This is disturbing to read...Why don't they just take out student loans and just never pay them back just like in America...It's ok...Really... (sarc)

Are you suggesting that going $250k into debt to get an arts degree was a bad investment?

Sent from my iPad using ThaiVisa app

Now that made me laugh...and how ironic...I almost did just that. (the arts degree). I chose mechanical engineering instead..

Good move

Edited May 7, 2012 by hellodolly

[hellodolly]

This is disturbing to read...Why don't they just take out student loans and just never pay them back just like in America...It's ok...Really... (sarc)

Are you American?

Never paying back your student loans is a bad idea. It will always drag your credit way down and even if you declare bankruptcy, one of the only things that you still have to pay back is student loans. They never go away.

I've known tons and tons of people who went to college/uni in the U.S., myself included, and never heard of anyone defaulting on their student loans. Bad idea...

But yeah, the whole pawn shop thing in Thailand is very popular. Always looking for that last bit of money. I went to one with my Thai girlfriend and her niece once, the niece was reclaiming some jewelry she had pawned there. I guess it's just a different way of getting a loan and paying back interest. Basically like borrowing on collateral of a car or house but just a smaller amount and less official.

Different strokes for different folks...

edit: Well I assume you were just making a joke about the student loans...anyway

Yes Jim I am American...(don't tell anyone)...I agree with you 100%. I read a article about a month back from the states regarding student loans not being paid back from people my age (60) and over. I was somewhat surprised and can't for the life of me understand why some people are so irresponsible. It truly is a burden not only the person that owes but also on the government...It turns out to be one more nail in the coffin of the over all debt I feel. Bad news all around. And yes I was being sarcastic...If a group of individuals are willing to share their knowledge, then you as the recipient of that knowledge, should have the decency to do you due diligence. That means paying back.

I wasn't joking in my post about the 250k. One of the 99%'ers actually had on her little whinge paper that she was 270k in debt after getting her arts degree with a postgrad in humanities or some crap. What possible options would she have employment wise to get rid of that monkey? Why would they let someone go into so much debt for an essentially worthless degree? .

I had been told that the fact you put the time and effort into getting a degree meant some thing to prospective employer's.

The world is full of collage grads working in other fields than their degree.

[necronx99]

I had been told that the fact you put the time and effort into getting a degree meant some thing to prospective employer's.

The world is full of collage grads working in other fields than their degree.

Spending 4 years and going $270k into debt to get a arts degree majoring in french literature would show any prospective employer that you were incredibly stupid.