Scb Staff Peddling Debt Like Carnival Touts

[Phronesis]

I was in Central Phuket yesterday. SCB had a large booth next to the Mcdonalds ice cream stand manned with about 15 staff. They were peddling personal loans and were literally chasing those walking by with a hard sell. You could sit down and get instant approval for up to 1 million THB.

I think the pending pop of the debt bubble here is going to make 1997 look like a tea party.

[BookMan]

What type, if any, of collateral is expected for 1 million?

What is the interest rate?

[scorecard]

Not only in Phuket, same bank here doing the same thing.

Just recently my Thai son had to get quite strong with a Thai girl (promoter) who wouldn't desist in trying to

give her spiel to my Thai daughter in law struggling to carry a baby, asleep, and manage a second small child ready to sleep.

[lomatopo]

Can you share any details? Did you sit down and peruse the offers? How did you determine that someone is eligible for an instantaneous personal loan of 1 million baht? A quick review of SCBs web-site indicates personal loans have terms of 12 - 60 months, and while no collateral is required, I suspect you'd need a pretty hefty bank balance and or proven cash flow to qualify?

If you really believe that there is a crash coming you could make a lot of money. Are you making investments now to take advantage of this "pending pop of the debt bubble"? If so, can you share a general outline of your strategies?

[GottaGo]

Maybe interest rates are going to be dropping soon to help keep the baht low and they're trying to lock customers into the currently higher rates?

That would imply going long on bonds, assuming you're happy to stay in the baht.

[Berkshire]

Can you share any details? Did you sit down and peruse the offers? How did you determine that someone is eligible for an instantaneous personal loan of 1 million baht? A quick review of SCBs web-site indicates personal loans have terms of 12 - 60 months, and while no collateral is required, I suspect you'd need a pretty hefty bank balance and or proven cash flow to qualify?

If you really believe that there is a crash coming you could make a lot of money. Are you making investments now to take advantage of this "pending pop of the debt bubble"? If so, can you share a general outline of your strategies?

Agree with your sentiments. And what exactly is unusual about what SCB is doing? Isn't every bank in the world trying to get qualified borrowers to borrow money? I mean, that's how banks make money, no?

[Phronesis]

Can you share any details? Did you sit down and peruse the offers? How did you determine that someone is eligible for an instantaneous personal loan of 1 million baht? A quick review of SCBs web-site indicates personal loans have terms of 12 - 60 months, and while no collateral is required, I suspect you'd need a pretty hefty bank balance and or proven cash flow to qualify?

If you really believe that there is a crash coming you could make a lot of money. Are you making investments now to take advantage of this "pending pop of the debt bubble"? If so, can you share a general outline of your strategies?

There are lots of cardboard placards at the booth. Perhaps if someone is at Central in the next few days they can post a picture of the one with the 10,000 to 1 million sales pitch on it.

[lomatopo]

There are lots of cardboard placards at the booth. Perhaps if someone is at Central in the next few days they can post a picture of the one with the 10,000 to 1 million sales pitch on it.

OK, so you really didn't investigate the details of these SCB personal loans, rather you implied that anyone could get a million baht loan instantaneously then made the leap to an impending financial crisis. Makes sense to me.

I guess I might be inclined to invest in SCB, or cardboard placard manufacturers.