Debt in Thailand

[tezzainoz]

2 months after I married my Thai wife I learnt she had 6 credit cards and all where maxed out, and they where starting to make threatening demands for the money to be be repaid.

As my company wanted me to return to Australia she came with me and I have no idea what happened in Thailand as we have never heard any more

She now wants to return to Thailand and buy a home

as the home will be in her name, what is the chances of these credit card companies catching up with her

She has been out of Thailand for 4 years

Her debt is about 400,000 baht

she has never made any repayments so 4 years of interest will need to be added

Can they have sent her bankrupt in her absence ?

How long will they keep they debt before they write it off ?

I think this must be a common problem in Thailand so I hope someone can give my legal advice on this matter

[Huayrat]

believe me it wont be letters you need to be worried about.. They will send the mafia around on there motorcycle dressed in all black..2 of them sometimes armed.. Thats how its done here..

Edited June 17, 2013 by metisdead
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[phuketjock]

@ the OP

400,000Baht + 4 years interest, what do you think really???

[tezzainoz]

Banks do not use the mafia

you have been watching to many Thai movies

[David48]

Banks do not use the mafia

you have been watching to many Thai movies

But the Bank may 'on-sell' their debt or ... rather then use their own employees to chase the debt, they may use a '3rd party' to chase on their behalf.

Options are many and varied.

.

[YeahSiam]

believe me it wont be letters you need to be worried about.. They will send the mafia around on there motorcycle dressed in all black..2 of them sometimes armed.. Thats how its done here..

Maybe if you borrow from a loan shark but a bona fide credit card company sending the Thai equivalent of Lock, Stock's Bullet-Tooth Tony around??

You're just repeating BS you've heard while three sheets to the wind on your porch.

Would the OP not feel better seeking and acting upon the advice of a brief than that of strangers on an anonymous internet forum?

[Banzai99]

Contact the people she owes money to, and pay it back, arrange an instalment plan if neccessary.

Do this before she comes back to Thailand and puts a house in her name.

[justben]

She's so lucky to have you lol. Interesting questions I would like to see real answers to.

[Banzai99]

On the other hand, I know a couple of English guys who had brilliant credit ratings, got as many credit cards as they could and had the maximum cash advance on all of them, took out as many unsecured loans as they could, banks, loan companies etc then pizzed off to Thailand with the money.

One went back after 10 years fearing arrest for fraud charges, nothing, he just has a crap credit rating, can't open a bank account etc, but, there are ways round that too.

Yet in Thailand I imagine it's different, writing a cheque that bounces is a criminal offence.

[mrtoad]

I would imagine there is a fair amount of interest on that. Not sure if these types of debts have a lifespan in Thailand?

[boosta]

Although I'm not familiar with the detailed intricacies of the Thai debtor laws or collection practices in the legitimate financial sectors, I do know this:

The debts NEVER go away like they do back home, there is NO "get away free" option like easy bankruptcy, and they DO put people in jail simply for being in debt even if fraud wasn't intended.

On such a large amount with compounded interest and penalties after four years, it's likely to now be in the millions.

As soon as she shows up on any computer systems linked into credit reporting, knowing the way things work here probably most government interactions, people on the lookout for her paid off in her families home town, no way she can come back without facing the music very quickly.

Much better to - from outside the country - hire a trustworthy lawyer experienced in such matters to negotiate on your behalf and come to a final settlement and have everything OK before she ever returns.

[robblok]

Strange that you are not even thinking about repaying even though you can buy a house.. some people.

[thaicbr]

My Gf had over 500k on loans and cards. It's taken over 5 years to get down to 130k owing. She just had a mortgage not approved due to that remaining loan. She also managed to get interest discounts on the loans.

Sent from my GT-P1010 using Thaivisa Connect Thailand mobile app

[up-country_sinclair]

Hire a lawyer experienced with debt cases to contact the banks which hold the debt. I would think that after four years without any payments at all the banks would be willing to negotiate on the interest.

[hotrod4098]

Hire a lawyer experienced with debt cases to contact the banks which hold the debt. I would think that after four years without any payments at all the banks would be willing to negotiate on the interest.

i would imagine the banks aint bothered as there may be some land title somewhere...so she will have to sell the land

[thaicbr]

Hire a lawyer experienced with debt cases to contact the banks which hold the debt.  I would think that after four years without any payments at all the banks would be willing to negotiate on the interest.

You really don't need a lawyer. Just contact the banks and request payment terms. If you can pay some off do so. If you need to pay of say 150k and can do 25k a month request an interest discount. Have fun.

Sent from my GT-P1010 using Thaivisa Connect Thailand mobile app

[jvs]

If the credit companies find out she has a house in her name she will lose it.

[meom]

If she knows the right people ( or wrong people, depending how you look at it) she can change her name and id card and start fresh.

Might have to move to another town though.

[tezzainoz]

sorry there is one little fact I left out of the message

This is now my ex wife and her new boyfriend

so I just wanted to know if Karma still exists

[Gsxrnz]

sorry there is one little fact I left out of the message

This is now my ex wife and her new boyfriend

so I just wanted to know if Karma still exists

Nice one

[Jasun]

Contacting the banks is a start, but as has been mentioned, the debt has probably already been passed on to a collections agency. They'll be the ones calling your mobile 10 times a day.

The biggest problem is the credit rating. Despite good intentions, paying all of these debts off now won't improve that, but it will make life easier years down the track if you want to borrow again.

It might be easier to save up, or take out an unsecured loan back in Oz to offset the cost of buying something outright in Thailand.

[boosta]

sorry there is one little fact I left out of the message

This is now my ex wife and her new boyfriend

so I just wanted to know if Karma still exists

-

You'll be happy to know he'll have to pay it off for her before they try to do anything else here.

Was the fact that she had all that debt and didn't tell you about it the reason you split with her?

If so, smart man! So guys that are taking these not-poor girls, add "do a credit check" to the list before you tie the knot.

None of my candidates would know the difference between a debit and credit, I've always been the one to open their first bank account for them. . .

Edited June 18, 2013 by boosta

[tezzainoz]

When we moved to Australia. I thought I was being a good husband allowing her to go to the Thai temple

I did not realise that 80 + % of girls who attend are ex bar girls, who all understand Australia law and how it can be used to become wealthy

She walked out on me and our daughter when her new Thai friends explained to her what a Pre Nup agreement she signed meant

Now I am a stingy man when she learn all my assets are to be looked after by my trustee when I die for the education of our daughter, and must be educated in Australia

In Australia we have a strange law

she can apply for money for our daughter

but they not give to her. money paid direct to the billing party after approved

and new law says she must work can not live at home on sole mothers pension

what is good have daughter ?

[robblok]

When we moved to Australia. I thought I was being a good husband allowing her to go to the Thai temple

I did not realise that 80 + % of girls who attend are ex bar girls, who all understand Australia law and how it can be used to become wealthy

She walked out on me and our daughter when her new Thai friends explained to her what a Pre Nup agreement she signed meant

Now I am a stingy man when she learn all my assets are to be looked after by my trustee when I die for the education of our daughter, and must be educated in Australia

In Australia we have a strange law

she can apply for money for our daughter

but they not give to her. money paid direct to the billing party after approved

and new law says she must work can not live at home on sole mothers pension

what is good have daughter ?

I understand her, you made her sing a pre nup without explaining it. Id be angry too, good reason to leave you.

When i let my now ex wife sign one the lawyer made sure she understood what it meant. Id be pissed if i was made to sign things bad for me without knowing it.

[boosta]

She walked out on me and our daughter when her new Thai friends explained to her what a Pre Nup agreement she signed meant

-

Good thing the temple lawyers didn't explain that it wouldn't have held up in court if she didn't understand what she was signing

at the time. . .

Not to mention the "allowing her" to go the temple, surprised you haven't been drawn and quartered by know knowing Oz fems!

I've made sure to divorce the mother of my children before we go overseas. Haven't quite yet got everything together yet for those that have been asking, having to make sure we all go together's gotten a little complicated.

Edited June 18, 2013 by boosta

[tezzainoz]

When we moved to Australia. I thought I was being a good husband allowing her to go to the Thai temple

I did not realise that 80 + % of girls who attend are ex bar girls, who all understand Australia law and how it can be used to become wealthy

She walked out on me and our daughter when her new Thai friends explained to her what a Pre Nup agreement she signed meant

Now I am a stingy man when she learn all my assets are to be looked after by my trustee when I die for the education of our daughter, and must be educated in Australia

In Australia we have a strange law

she can apply for money for our daughter

but they not give to her. money paid direct to the billing party after approved

and new law says she must work can not live at home on sole mothers pension

what is good have daughter ?

I understand her, you made her sing a pre nup without explaining it. Id be angry too, good reason to leave you.

When i let my now ex wife sign one the lawyer made sure she understood what it meant. Id be pissed if i was made to sign things bad for me without knowing it.

I think you must be joking

If you are a smart as you let on

you would know before any one can sign a document in Australia, the solicitor must explain its meaning

My new Thai wife understands when she borrows on a credit card

she must pay the money back

my ex still has not grasped this fact

They give me money why I need pay back she will say

with some ladies you can explain times a thousand times, but theu only understand what they want to

[Jasun]

Thais understand pre nups, they're practically built into arrangements via sin sod and the pre marriage asset rules.

[robblok]

When we moved to Australia. I thought I was being a good husband allowing her to go to the Thai temple

I did not realise that 80 + % of girls who attend are ex bar girls, who all understand Australia law and how it can be used to become wealthy

She walked out on me and our daughter when her new Thai friends explained to her what a Pre Nup agreement she signed meant

Now I am a stingy man when she learn all my assets are to be looked after by my trustee when I die for the education of our daughter, and must be educated in Australia

In Australia we have a strange law

she can apply for money for our daughter

but they not give to her. money paid direct to the billing party after approved

and new law says she must work can not live at home on sole mothers pension

what is good have daughter ?

I understand her, you made her sing a pre nup without explaining it. Id be angry too, good reason to leave you.

When i let my now ex wife sign one the lawyer made sure she understood what it meant. Id be pissed if i was made to sign things bad for me without knowing it.

I think you must be joking

If you are a smart as you let on

you would know before any one can sign a document in Australia, the solicitor must explain its meaning

My new Thai wife understands when she borrows on a credit card

she must pay the money back

my ex still has not grasped this fact

They give me money why I need pay back she will say

with some ladies you can explain times a thousand times, but theu only understand what they want to

You said she left after her Thai friends explained what it meant that contradicts that she understood before. How else am I to interpret it ?

[tezzainoz]

She walked out on me and our daughter when her new Thai friends explained to her what a Pre Nup agreement she signed meant

-

Good thing the temple lawyers didn't explain that it wouldn't have held up in court if she didn't understand what she was signing

at the time. . .

Not to mention the "allowing her" to go the temple, surprised you haven't been drawn and quartered by know knowing Oz fems!

I've made sure to divorce the mother of my children before we go overseas. Haven't quite yet got everything together yet for those that have been asking, having to make sure we all go together's gotten a little complicated.

we are talking about Australia

when you sign a Pre Nup

you must also sign a stat dec saying the Pre Nup has been explained to you and you understand the mean of the document

but I guess you could say you did not understand the statement that was explained to you that explained the origional document that you agree to in the first place, so there for you had no idea what you where signing, or why you even needed to sign anything in the first place as Thai law over rules all other laws when it comes to Farlang

[iluvbeaches]

In most countries not only must the individual signing the prenuptial agreement understand the contents and effect but also in many one must have independent legal counsel if there is a obvious difference in understanding capacity due to language barriers. If she didn't have independent (not your lawyer, her own) and a translator explain the difference she probably has a good case to argue the prenup should be nullified.