Loan Sharks ?

[Morden]

Definitely debt collectors. Their employers will lend, say, THB1,000 and you pay the bikers THB120 for ten days. If you default, an old BMW or similar will turn up and then the shouting, violence and taking of property begins. They don't stop short of beating up and robbing old ladies. Scum they are.

[cbrer]

Saves the police from having to travel around collecting it.

[YipYipYa123]

Saves the police from having to travel around collecting it.

Police actually do enforce debts in many instances

Especially if the dispute is between a farang and a Thai

[Farma]

Since my post the other day I've watched 2 encounters with these debt collectors.

A few days ago a bike stopped in front of the cops house a couple of doors away from where I'm staying. The cop wasnt home so he asked my neighbour to pass the payment onto the cop when he arrived home. My neighbour refused to get involved. The debt collector was chatty and said they have to pay the cops in each umphur they collect in.

around the same time other debt collectors visited an elderly lady neighbour. That 70+ yo lady's daughter got involved in gambling and owes money to the collectors. As the daughter can't pay they've moved up to her parents. The lady didn't have money for the collectors so now has a huge bruise covering one cheek where they hit her.

Edited February 5, 2013 by Farma

[cbrer]

Isn't it a beautiful society.

[YipYipYa123]

Even in europe there are illegal loansharks that come around the houses ,esp before christmas borrowing money to housewives etc

and they use intimidating tactics to get their profits there as well

not sure why thailand should be any differnt ? you only borrow money from loansharks when youve exhausted all your other options first

anyway so its usually pretty desperate and vulnerable people that they make their money on

[loserlazer]

if you pay your debt on time, you do not see them.

And curse on the bosses not them as they work for cheap.

[cornishcarlos]

Even in europe there are illegal loansharks that come around the houses ,esp before christmas borrowing money to housewives etc

and they use intimidating tactics to get their profits there as well

not sure why thailand should be any differnt ? you only borrow money from loansharks when youve exhausted all your other options first

anyway so its usually pretty desperate and vulnerable people that they make their money on

The main point of the thread was not really the fact that they are loan sharks.

We all know loan sharks exist everywhere.

The thing that I was interested in was their unofficial 'uniform' and the fact that they nearly always ride a CBR150, hence the inclusion in the motorbike forum...

[cbrer]

Even in europe there are illegal loansharks that come around the houses ,esp before christmas borrowing money to housewives etc

and they use intimidating tactics to get their profits there as well

not sure why thailand should be any differnt ? you only borrow money from loansharks when youve exhausted all your other options first

anyway so its usually pretty desperate and vulnerable people that they make their money on

The culture and number of loansharks in Thailand and the West cannot be compared.

[rucus7]

I have a black CBR, wear a black jacket and a black full face helmet with a black visor. Now I know why every Thai smiles at me and gets out of my way.

I go out of my way to give them a close call when I pass them. I hope I don't mistake you for one of them. Something about their method of collection brings out the worst in me. People don't have to use loan sharks, they can go without food I guess. The level of ignorance about how the vigorish works saddens me greatly.

[YipYipYa123]

Even in europe there are illegal loansharks that come around the houses ,esp before christmas borrowing money to housewives etc

and they use intimidating tactics to get their profits there as well

not sure why thailand should be any differnt ? you only borrow money from loansharks when youve exhausted all your other options first

anyway so its usually pretty desperate and vulnerable people that they make their money on

The culture and number of loansharks in Thailand and the West cannot be compared.

of course the lack of laws /enforcement / police corruption in thailand is off the charts compared to western countries so

its not surprising that businesses such as loan sharking are a way bigger industry here

still though ,if you cant pay for your drugs etc in dublin ,the usual punishment was you get to fall off a balcony

in edinburgh ,you get your face slashed with a stanley knife as a warning to get the cash repaid

every country has violent lenders ,seems strange they all wear black and ride cbrs but amazing TIT eh ?

[eezergood]

Since my post the other day I've watched 2 encounters with these debt collectors.

A few days ago a bike stopped in front of the cops house a couple of doors away from where I'm staying. The cop wasnt home so he asked my neighbour to pass the payment onto the cop when he arrived home. My neighbour refused to get involved. The debt collector was chatty and said they have to pay the cops in each umphur they collect in.

around the same time other debt collectors visited an elderly lady neighbour. That 70+ yo lady's daughter got involved in gambling and owes money to the collectors. As the daughter can't pay they've moved up to her parents. The lady didn't have money for the collectors so now has a huge bruise covering one cheek where they hit her.

I am sure non of the loudmouth tough guy Thai men where around to stop this, hitting a 70+ yo anyone is just bang out of order!

[cornishcarlos]

Sorry, I thought we had covered everything on this subject ??

But no...

Just now I saw two collectors on a shiny new Ninja !! Must be doing pretty well for themselves but easy to identify

Should have stuck with the CBR and anonymity !!