Bangkok loan gang paid with drugs

[webfact]

Loan gang paid with drugs
The Nation



BANGKOK: -- Ten young men caught on video breaking down a fence to enter the house of a loan shark customer and injuring two occupants in Sai Mai in Bangkok last Thursday told police they were paid with drugs and booze to collect debts.

Pol Lt Gen Camronwit Toopgrajank, chief of Metropolitan Police, told a press conference yesterday that the 10 suspects, including the 18-year-old alleged leader, had turned themselves in to Bang Khen police on Saturday night along with the Toyota Vigo pickup truck, Yamaha Spark motorcycle and some baseball clubs that they had used in the raid.

They were charged with trespassing at night, causing property damage, assaulting people and charging excessive loan rates.

The gang leader told police that he lent Bt20,000 to the sweets vendor at 20 per cent interest. The vendor agreed to repay him Bt1,000 per day for 24 days.

After 11 days she negotiated him down to Bt500 a day, to which he agreed, but then she stopped after a few instalments. He got angry and attacked her relatives.


-- The Nation 2013-09-02

[theblether]

Scum.

Problem is though. They are everywhere. Many Thai people live with this fear of intimidation every single day. Acid attacks, beatings, killings, the whole lot.

This is the work of the scum loan sharks.

[edwinchester]

20% over three and a half months is nothing unusual.

The guys lending locally charge between 20 and 50% a day!!!! Police turn a blind eye as they take their own slice of the action.

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[noitom]

Scum.

Problem is though. They are everywhere. Many Thai people live with this fear of intimidation every single day. Acid attacks, beatings, killings, the whole lot.

This is the work of the scum loan sharks.

And this entire Thai loan sharking business is controlled by Thai Mr. Bigs. Yet nothing will be done to flip these bone crushers and get them to identify on up the food chain.

[dudu]

Why go swimming when there are sharks in the water, why are you all surprised at the result?....

[edwinchester]

Why go swimming when there are sharks in the water, why are you all surprised at the result?....

People 'go swimming' because they have absolutely no other choice. They will not get a loan from a bank and more than likely have no family or friends able or willing to loan to them.

I cited above that rates locally where I live can be 20-50% a day. Customers are typically a poor roadside vendor who will borrow money to buy produce that they will sell during the day to just about get by and hopefully have enough to repay the loan.

It must be a joyless existence.

Sent from my GT-I9003 using Thaivisa Connect Thailand mobile app

[dudu]

Why go swimming when there are sharks in the water, why are you all surprised at the result?....

People 'go swimming' because they have absolutely no other choice. They will not get a loan from a bank and more than likely have no family or friends able or willing to loan to them.

I cited above that rates locally where I live can be 20-50% a day. Customers are typically a poor roadside vendor who will borrow money to buy produce that they will sell during the day to just about get by and hopefully have enough to repay the loan.

It must be a joyless existence.

Sent from my GT-I9003 using Thaivisa Connect Thailand mobile app

If i had to borrow money at a rate more than i can earn,for a business that should be already feeding my family, i would rather shut shop,thats a choice.

[worgeordie]

Do you think Wonga and those other pay day lenders from the UK would do well

here, 20% is low to what some of them charge over there, one was charging 1954%!

regards Worgeordie

[GirlDrinkDrunk]

Scum.

Problem is though. They are everywhere. Many Thai people live with this fear of intimidation every single day. Acid attacks, beatings, killings, the whole lot.

This is the work of the scum loan sharks.

perhaps some blame should go to those that use them. they dont bother you if you don't borrow money or pay back what you borrow.

[HeavyDrinker]

Why go swimming when there are sharks in the water, why are you all surprised at the result?....

People 'go swimming' because they have absolutely no other choice. They will not get a loan from a bank and more than likely have no family or friends able or willing to loan to them.

I cited above that rates locally where I live can be 20-50% a day. Customers are typically a poor roadside vendor who will borrow money to buy produce that they will sell during the day to just about get by and hopefully have enough to repay the loan.

It must be a joyless existence.

Sent from my GT-I9003 using Thaivisa Connect Thailand mobile app

If i had to borrow money at a rate more than i can earn,for a business that should be already feeding my family, i would rather shut shop,thats a choice.

A better choice than not being able to at least have the chance to feed your family at all you bellend?

[dudu]

Why go swimming when there are sharks in the water, why are you all surprised at the result?....

People 'go swimming' because they have absolutely no other choice. They will not get a loan from a bank and more than likely have no family or friends able or willing to loan to them.

I cited above that rates locally where I live can be 20-50% a day. Customers are typically a poor roadside vendor who will borrow money to buy produce that they will sell during the day to just about get by and hopefully have enough to repay the loan.

It must be a joyless existence.

Sent from my GT-I9003 using Thaivisa Connect Thailand mobile app

If i had to borrow money at a rate more than i can earn,for a business that should be already feeding my family, i would rather shut shop,thats a choice.

A better choice than not being able to at least have the chance to feed your family at all you bellend?

The proof is in the pudding, right in front of us, this is not a good choice, thats why loan sharking is supposed to be illegal. it rips people off!!

[fakename]

The problem is education, or the lack of it. Some of these people that are borrowing, have know idea how much they will have to pay back, same with buying a motorbike, they have no idea of the final price. No thought of how to plan something, they will start up a food cart business, and only think about today.

Another big problem is the gambling, every woman is gambling, and since they cant count, they borrow money to play games or even for lottery. Sometimes the husband dosent know, until the collectors come calling. Of course he might be doing the same, then the problem is double.

[HeavyDrinker]

^ Indeed..ish...but I'd add to that if I may.

The main problem is status or the lack of it which in turn comes from a lack of formal education.

If you have a formal education then you can probably get a few quid from a bank. With no formal education you are left at the mercy of the scammers and the soi dogs.

I'd say that many people from the 'lower echelons' have more business sense than I'll ever have....the lass who runs our local noodle stalls is as sharp as a razor with figures and now at the age of 18 has 3 stalls...sadly not all share her acumen....

[edwinchester]

Scum. 

 

Problem is though. They are everywhere.  Many Thai people live with this fear of intimidation every single day.  Acid attacks, beatings, killings,  the whole lot. 

 

This is the work of the scum loan sharks. 

 

 

perhaps some blame should go to those that use them. they dont bother you if you don't borrow money or pay back what you borrow. 

So tearing down the gates of a house, breaking in and assaulting anyone in sight with machete's is now known as 'bothering'.

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[edwinchester]

 

Why go swimming when there are sharks in the water, why are you all surprised at the result?....

People 'go swimming' because they have absolutely no other choice. They will not get a loan from a bank and more than likely have no family or friends able or willing to loan to them.

I cited above that rates locally where I live can be 20-50% a day. Customers are typically a poor roadside vendor who will borrow money to buy produce that they will sell during the day to just about get by and hopefully have enough to repay the loan.

It must be a joyless existence.

Sent from my GT-I9003 using Thaivisa Connect Thailand mobile app

 

If i had to borrow money at a rate more than i can earn,for a business that should be already feeding my family, i would rather shut shop,thats a choice.

Not much of a choice is it, give up your only source of income. No welfare system in Thailand so I'd guess this was a fairly desperate choice to borrow from loan sharks.

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[Travel Dude]

Just for those who have difficulty calculating the approximate interest rate charged by these boys... 20.000 becomes 24.000 in 24 days. So the interest/profit of these guys is 4.000 over 24 days. 24.000/20.000 = 20%. On a year basis this is 360/24 = 15 x 20% = 300% Not bad....

On the other hand the vendor should have kept her promise. No one forced her to borrow these 20.000. And when she asked to lower the amount to 500 per day the boys agreed, which is quiet nice of them actually. She then deceived him by not paying up anymore while still owing him money. He got upset and we all would be upset too. So... Well yes, these guys are tugs, but not excessive. And the vendor is a thief as she refused to pay back the money that she borrowed.

[Travel Dude]

20% over three and a half months is nothing unusual.

The guys lending locally charge between 20 and 50% a day!!!! Police turn a blind eye as they take their own slice of the action.

Sent from my GT-I9003 using Thaivisa Connect Thailand mobile app

Since when is 24 days equal to 3 1/2 month???

[metisdead]

An inflammatory post has been removed.

[dudu]

Why go swimming when there are sharks in the water, why are you all surprised at the result?....

People 'go swimming' because they have absolutely no other choice. They will not get a loan from a bank and more than likely have no family or friends able or willing to loan to them.

I cited above that rates locally where I live can be 20-50% a day. Customers are typically a poor roadside vendor who will borrow money to buy produce that they will sell during the day to just about get by and hopefully have enough to repay the loan.

It must be a joyless existence.

Sent from my GT-I9003 using Thaivisa Connect Thailand mobile app

If i had to borrow money at a rate more than i can earn,for a business that should be already feeding my family, i would rather shut shop,thats a choice.

Not much of a choice is it, give up your only source of income. No welfare system in Thailand so I'd guess this was a fairly desperate choice to borrow from loan sharks.

Sent from my GT-I9003 using Thaivisa Connect Thailand mobile app

I am not saying this is the case, but, half the vendors in my neighborhood owe money to loan sharks,why you ask? gambling.

[edwinchester]

20% over three and a half months is nothing unusual.

The guys lending locally charge between 20 and 50% a day!!!! Police turn a blind eye as they take their own slice of the action.

Sent from my GT-I9003 using Thaivisa Connect Thailand mobile app

Since when is 24 days equal to 3 1/2 month???

My mistake. I typed months instead of weeks.

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[rikkie]

Just for those who have difficulty calculating the approximate interest rate charged by these boys... 20.000 becomes 24.000 in 24 days. So the interest/profit of these guys is 4.000 over 24 days. 24.000/20.000 = 20%. On a year basis this is 360/24 = 15 x 20% = 300% Not bad....

On the other hand the vendor should have kept her promise. No one forced her to borrow these 20.000. And when she asked to lower the amount to 500 per day the boys agreed, which is quiet nice of them actually. She then deceived him by not paying up anymore while still owing him money. He got upset and we all would be upset too. So... Well yes, these guys are tugs, but not excessive. And the vendor is a thief as she refused to pay back the money that she borrowed.

only 1 word... correct thinking, i hate this guy's but they are more mild then the Indian tug's here.

[AryanicAristocrat]

Dear Rikkie, the Indain tugs never ever resort to violence and are in fact very accomodating according to my thai friends. On the other note.....in this particular case and others, thais have a bad habit of borrowing and then defaulting and they never learn to live withing their own means and undertsand the concept of budgetting and this is a general trait among the various strata of thai society. And really if they cannot feed their families .....shy have them in the first place. Perharps there should be compulsory sterilisation based on the income brackets. And those young thugs should also be properly bashed up and put away for life....no point having garbage like these on the streets and while at it, their families should also be put down for bring forth such trash.

[lee b]

Oh it just gets worse !

[Sayonarax]

They were charged with trespassing at night, causing property damage, assaulting people and charging excessive loan rates.

What about charges of home invasion, assault and burglary.

You wouldn't see the light of day for 10-20 years in the west.

Id of shot you dead.

[Travel Dude]

Dear Rikkie, the Indain tugs never ever resort to violence and are in fact very accomodating according to my thai friends. On the other note.....in this particular case and others, thais have a bad habit of borrowing and then defaulting and they never learn to live withing their own means and undertsand the concept of budgetting and this is a general trait among the various strata of thai society. And really if they cannot feed their families .....shy have them in the first place. Perharps there should be compulsory sterilisation based on the income brackets. And those young thugs should also be properly bashed up and put away for life....no point having garbage like these on the streets and while at it, their families should also be put down for bring forth such trash.

You are a dangerous guy... with a far to strong mind. Putting away for life for getting upset when the money you borrowed is not paid back??

But yes, i understand... you are an Aryan and most of these people have deviated minds... Sorry to express my feelings.

[alfalfa19]

Nice looking group of fellows. I imagine that if they were to pool all of their brain cells, they might summon up the IQ of a termite.

[stoli]

20% over three and a half months is nothing unusual.

The guys lending locally charge between 20 and 50% a day!!!! Police turn a blind eye as they take their own slice of the action.

Sent from my GT-I9003 using Thaivisa Connect Thailand mobile app

Is this the cost of interest that you paid to obtain your "counterfeit" Samsung S3? (GT-I9003) I have to wonder if you can back up your claims of 20% to 50% per day. Maybe I am just skeptical. Or maybe you think the rest of the world is stupid? Please stick to the facts.

[edwinchester]

20% over three and a half months is nothing unusual.

The guys lending locally charge between 20 and 50% a day!!!! Police turn a blind eye as they take their own slice of the action.

Sent from my GT-I9003 using Thaivisa Connect Thailand mobile app

Is this the cost of interest that you paid to obtain your "counterfeit" Samsung S3? (GT-I9003) I have to wonder if you can back up your claims of 20% to 50% per day. Maybe I am just skeptical. Or maybe you think the rest of the world is stupid? Please stick to the facts.

Counterfeit? Where'd you get that idea?

Just posting what I know to be true as I know one of the guys who loans out money at these rates. You can choose to believe or not.

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[Commander Tamson]

Dear Rikkie, the Indain tugs never ever resort to violence and are in fact very accomodating according to my thai friends. On the other note.....in this particular case and others, thais have a bad habit of borrowing and then defaulting and they never learn to live withing their own means and undertsand the concept of budgetting and this is a general trait among the various strata of thai society. And really if they cannot feed their families .....shy have them in the first place. Perharps there should be compulsory sterilisation based on the income brackets. And those young thugs should also be properly bashed up and put away for life....no point having garbage like these on the streets and while at it, their families should also be put down for bring forth such trash.

A bit to the right of Attila the Hun methinks.. Or Thaksin maybe

[HoudiniXLogic]

Well they do have to go to this length. Thai people know that they are the worst at returning money. Everything a farang doesnt like about Thai people, Thai People REALLY dont like about Thai people.