lending out money in thailand

[A1Str8]

I don't lend. However, I help those in need. But I never ask it back.

[jvs]

Both positive and negative experience with being repaid,now i just tell people to go to the bank and ask for a loan.

[Nautilus05]

For all intents and purposes, when I've "lended" money to someone (Thai or not), I'd always just go under the assumption that I've giving it, and will never see it again.

My previous next door neighbor was great though. She borrowed from me a couple times, and always paid me back when she could. Nothing special, and just 5000 baht here and there, but nonetheless, it was nice to be paid back.

[DLock]

The irony here is quite amusing.

Most of you deride Tim Sharky for his loan sharking, but you can be sure when he lends money, he gets it back.

That's the difference between an Alpha male that demands respect and a Beta who whimpers about not being paid back.

Collateral or contracts people. It's not that complex.

[bogozy]

At first time, I lent 60.000 THB to the daughter of my wife's brother. She never paid back. Her father quaranted, and he is paying back, drops by drops.

At now there are outstanding of 20.000 after 5 years !

Second time my wife lent her other brother 20.000 THB. After long and dirty quarrels, they paid back, and give some interest.

So I have bad experiences only.

[SNGLIFE]

Lending money to a Thai is fine. Oh, you are expecting it back, too? LOL!!!

Fahgetaboutit.

[tingtongteesood]

Lent to 2 people, one has owed me 4500 baht for over 3 years, the other owes me 6000 baht for a few months. I have written them both off...Will never lend again.

[ggt]

Loaned money to Thais...twice...

One individual never paid it back...

The second one...gave me a signed doc. with picture ID and description of the 30 day loan...

It was 8 months later...at considerable hassle that I was reluctantly paid-in-full...

Never again...

[MrWorldwide]

I guess the negative experiences partly explain how Shark is able to continue making a living in Pattaya - not the kind of individual most of us would want to employ, but if you really wanted results I guess it could come to that. Just dont know how I could look someone in the eye, shake his hand and tell him I would pay him back when I had no intention of doing so, but I guess in some parts of the world that's what separates the 'players' from the rest of us - a very different moral compass.

[spidermike007]

I have lent money to my girlfriend, and she has always paid it back. I lent money to her mother and father on a few occasions, (very responsible merchants) and they always paid it back. On one occasion it took longer than promised, but they communicated with us about it, and they did eventually get it back. I have lent her sister sums of 60K, and she always paid it back. Same goes for most of my friends. I have alot of friends who consider re-payment of a loan to be a big deal, and a high priority. Have encountered a few over the years that did not. But, fortunately they have been the exception to the rule. My girlfriend on the other hand, has been stiffed many times by deadbeat friends. Usually they are not people she knew well. She now refuses to lend money to all but her best friends and family. Live and learn. I think you just have to be a good judge of character, and choose your friends (and family) carefully. Many Thais are very honorable. I think the bad rep comes from a small percentage in the bunch, like anywhere.

[Mitker]

Heard recently between two Thai friends in my presence: "farangs do not understand that in our culture, a loan is not always supposed to be paid back.."

She had previously explained that she was looking for a couple of thousands bahts to face coming bank deadlines (mostly due to catastrophic budget management)

Not exactly a bright marketing

[kiwiinasia]

3 times, 2 fatal and the last one is barely breathing.

[hellodolly]

Heard recently between two Thai friends in my presence: "farangs do not understand that in our culture, a loan is not always supposed to be paid back.."

She had previously explained that she was looking for a couple of thousands bahts to face coming bank deadlines (mostly due to catastrophic budget management)

Not exactly a bright marketing

She should have explained to the bank that loans are not always supposed to be paid back.

[hellodolly]

For myself I do not lend money if I can not afford to lose it. The same as I don't buy any thing I can not walk away fromm Here or in any country in the world.

Twice I have lent money once 5,000 baht to the wife's brother. I did not expect it back yet two months later there it was.

Once 15,000 to the wife's sister with the expectation that she would pay me 10,000 baht in August and the other when she got settled in to her new home in France and started earning money with Thai Massages. She had moved there to be with the father of her child. I asked for nothing it was all voluntary information given freely.

I have received the 10,000 baht and am not concerned about the other 5,000 baht. If it comes great if it dosen't come great. I don't expect her to settle into a foreign culture and start making money right away. If she can even handle the weather there.

I have in the past given money to friends with the understanding that I was not going to get it back but some where down the line they would help some one who needed it and they could do it. No time attached to it.

[stuartd1]

"Neither a borrower nor a lender be;
For loan oft loses both itself and friend,
And borrowing dulls the edge of husbandry.
This above all: to thine own self be true,
And it must follow, as the night the day,
Thou canst not then be false to any man."

Shakespeare, from Hamlet

[pmarlin]

Just don't lend to an American guy named Al who comes from New York who claims to be some kind of a professional model photographer. He lives in Bangkok He has screwed dozens of suckers out of money.

[AYJAYDEE]

Its better to let your wife make short term loans to thais. 10% a month.

[seancbk]

I lent 52,000 baht to a middle class Thai female friend 12 months ago. So far she has managed to pay me back half of the money, but I've not really pushed her for it, just the occasional reminder every 6 weeks or so....

I've lent maybe 100,000 (spread over many loans over 2 years) to my one and only Ex bar girlfriend. She has always paid me back. Currently she owes me 27,000 baht which she reckons she's paying this month.

I've lent various western friends small amounts (1000-5000) and in most cases it just seems to get forgotten.

[robertson468]

I have loaned money to three Thai Friends and received the money back in good time. However, I have a lovely Housekeeper who has a certain way with her and asks periodically to "borrow" money. We know this is a game and that in fact I don't expect the money back, although when I do her salary calculations, I add up what she earns, deduct what she owes me and then cross it out and give her her full salary. She gets all girly, girly and gives me a little cuddle to say thank you, which makes it all worth while. A lovely lass, worth her weight in gold.

[craigt3365]

A post containing a person's name has been removed from view.

[jhwest]

Well yes I have loaned out once a substantial amount about 670K seven yes 7 YEARS AGO to an English friend married to a Thai, no less than my so called brother in law.

I have seen him in Thailand and have politely asked for my money back.

Also written him letters and no response.

The second occassion was to fund an emergency operation of 350K to daughter in law, but in normal circumstances would not dream of asking for it back, but they have totally ignored my Thai wife or her Mother used to come to our houseand cause arguments. Yes dropped everything at an instance to come here from the UK

The so called blood Mother has two daughters, but she has not spent any time with them and provided no funds whatsoever and infact really is not their Mother at all. Infact a disgrace.

Never ever again, apart from maybe my wife's sister, but people think we are made of money and I have had to work 44 years to have what I have got.

Edited October 25, 2013 by jhwest

[mdmayes]

Lent 500bt to thai lady one time. She offered her phone for me to hold until she pay me back. I told her that the phone was not required. I gave her the baht and within three days had the money back into my hands. :-D

[chrisinth]

In my time living here, 3 times I have "lent" money. In all 3 cases, I was never asked for the money by the people but I knew they needed it for one reason or another. 2 out of the 3 times it was unexpectedly paid back.

I am not sure if it is just me, but I have always lived with the understanding that, exceptional cases to one side, most people who borrow end up in a bigger hole than they started. Sometimes it really is better to be cruel to be kind..............

[Sydebolle]

Beware fellow foreigners 8-)

[jpduggan]

Can't agree, I bailed out a Thai girl beauty shop owner to clear some debts, 22,000Thb, I had to come back to Ireland for a few months and the wife skyped me to tell me this girl had suddenly sold her shop.She was still around Soi Nernpabwan when I returned so I met her and told her I wanted to be paid back 2000 a month.One night she dissapeared and cut off all contact with her Thai friends some of whom she had borrowed from too.I had gotten her to sign a contract with my wife as the lender and also copied her ID card. I learned a valuable lesson and will never loan to a Thai again.One day I will go to Lampang and call to her family not that it will do any good but I want to see Lampang anyway.

[SageYoung]

I've lent out thousands upon thousands over the years. Only a $300 loan was ever paid back.

When I really need the money (as in now), none seem to be able to return the favor.

Obviously some big issues with money I'm holding.

Edited October 25, 2013 by SageYoung

[glassdude007]

just recently I gave a long time mate 60K BHT with the hopes of the much needed cash to be re-payed by the end of the year.

He has since returned to UK for medicial issues but before he left he re-payed me 50K BHT....was a very nice surprise.

Not really worried about the remaining 10k BHT now to be honest. __

[Cuban]

No bad experiences with Thai relatives, where we have been involved with the outer circle of Thais I (we) have my SIL handle the transaction so I am at least a further step removed from the "loan", money comes back with interest.

Not something I intend to let happen often as I repeatability as I always ask "What if...."

------------------------

Of the farang - farang loans I hear of, they tend to be one sided transactions, I steer clear of those.

Edited October 25, 2013 by Cuban

[quiuvo]

Last yr I lent Thai lady friend 5,000 baht and got it back, albeit one month late. Two weeks ago I lent 3,000 to a lady for nor week. She doesn't talk to me now!

[benalibina]

"I had a bet about it with a guy. After a short while, 3 months, the lady in question rang me and met me to pay the 5.000 bth back."

I'm wondering, did he honour the bet?

I've only lent money twice, and had it returned twice, albiet so long after i'd forgotten I'd lent the money in the first place. But they were more micro loans, i'd think twice about giving anyone anything over 20K baht.

Yes he honoured the bet.