Unpaid debt recovery - help

[laban]

I sold my running business in good faith to a person I had known for several years in Pattaya. We drew up an agreement with monthly payments until full amount was paid. Every payment was late and last 2 payments were never made, and he refuses to pay the debt which is now 8 months old. The buyer is well known in Pattaya and owns several businesses. He is known for having done the same trick to a number of people and so far has got away with it.

Going the legal way will not only take much time but will cost most probably more than the debt owed, so not worth it.

Any (non-violent) practical suggestions welcome.

[OMGImInPattaya]

Nope...looks like you've been had.

[Swiss1960]

You say he is know to get away with such actions and you say lawyers will be more costly... there is your answer... write it off

[Gone]

Yep just take your losses and go on your way trust me.

[blackman]

He is in breach of contract

Find a good lawyer

Agree a fixed fee and a % of the recovered money

[MrWorldwide]

OP, not looking to inflame things, but you say you had known him for some time and he is 'known to get away with such things' - am I to assume that you went into this in the belief that he wouldn't screw you despite his track record ?

I seem to recall that the discussion on Tim Shark, notorious Kiwi debt collector, was punctuated by the claim that he 'gets results when others cant'. I know you dont want a 'violent' solution, but your story seems to indicate that your former friend (?) has bought this on himself.

[Pattaya28]

2 important factors.

What is his nationality ?

What is the debt amount ?

[KittenKong]

I would take the guy to court out of principle, even if it cost me money to do so.

The reason people keep doing things like this is because so many victims just write off the loss instead of pursuing it.

All that said, it would be a cold day in hell before I would lend even one Baht to any farang doing "business" in Thailand. Rarely have I seen a more dodgy and shifty crowd.

[2unique]

Small claims court NOW!

Sent from Android please excuse errors in type or judgement

[nitnoymoy]

speak to Tim Sharkey!

[Tolley]

How much are we talking about?

If it is only a couple of hundred thousand baht then write it off and move on.

Dont you have someone of influence who can help you?

Rule of thumb in Thailand if are doing business is make sure you have an influential thai you can call on should you need them.

[MrWorldwide]

How much are we talking about?

If it is only a couple of hundred thousand baht then write it off and move on.

Dont you have someone of influence who can help you?

Rule of thumb in Thailand if are doing business is make sure you have an influential thai you can call on should you need them.

I take your point, but I wouldnt make the assumption that the OP sees 'a couple of hundred thousand baht' as a trivial amount. I guess it all comes down the cost of getting (any of) it back. Have to wonder if our bad debtor would have tried the same thing with a Thai, knowing exactly what the consequences would have been ....

[Sceptict11]

"I sold my running business in good faith to a person I had known for several years in Pattaya. We drew up an agreement with monthly payments until full amount was paid. Every payment was late and last 2 payments were never made, and he refuses to pay the debt which is now 8 months old. The buyer is well known in Pattaya and owns several businesses. He is known for having done the same trick to a number of people and so far has got away with it."

Says it all really !

Selling a business and accepting the promise of "drip" payments from a known cheater !

Sad !

[Asiantravel]

I would take the guy to court out of principle, even if it cost me money to do so.

The reason people keep doing things like this is because so many victims just write off the loss instead of pursuing it.

All that said, it would be a cold day in hell before I would lend even one Baht to any farang doing "business" in Thailand. Rarely have I seen a more dodgy and shifty crowd.

sad but true

[2unique]

How much are we talking about?

If it is only a couple of hundred thousand baht then write it off and move on.

Dont you have someone of influence who can help you?

Rule of thumb in Thailand if are doing business is make sure you have an influential thai you can call on should you need them.

Does an Influential Thai cost less than a lawyer?

Not only could it end up costing you more in the long run, there's always the "my dad's bigger than your dad" scenario!!

[laban]

The amount this Brit owes me is under 500k, at the time I did the business transaction, I never realised the man was a crook, as he still owns several well known businesses in Pattaya. Another person I know of is owed over 2 million by the same Brit.

[cornishcarlos]

It doesn't seem like he is the kind of guy to pay any attention to a 'non-violent' deterrent.

I suggest you buddy up with the person who is owed 2mil and get it sorted properly, when in Rome an all that

[petercool]

There are debt collection agencies who work for a percentage of the resultant collection, That could be the cheapest option. However, when a debt passes a five year unpaid period here it is deemed non-recoverable. Not sure if that applies here.

[jdinasia]

If your contract is valid then taking the legal action can be done. Win in court, then seize the assets of the company. He will be responsible for the court costs and your legal fees if you win.

[Pattaya28]

Employ the "Jetski-Scammers.".

They should have your problem sorted in no time at all.

But ..... they may shaft you for Jetski damage irrespective of whether you've even set foot on the beach

[blackman]

The amount this Brit owes me is under 500k, at the time I did the business transaction, I never realised the man was a crook, as he still owns several well known businesses in Pattaya. Another person I know of is owed over 2 million by the same Brit.

is he on Thaivisa?

any suggestion about which businesses he might own?

[black fox]

theres so many dodgy farangs here and they mostly prey on their own countrymen they realy are the scum of the earth.

[wooloomooloo]

The amount this Brit owes me is under 500k...

Let's round it up to GBP 10,000 then, which is a huge amount of money. I certainly wouldn't write that sort of money off.

[CWMcMurray]

What type of business is it?

Can you take back the business or set up same business and take back your old customers?

Sent from my iPhone using ThaiVisa app

[Basil B]

"Going the legal way will not only take much time but will cost most probably more than the debt owed, so not worth it."

​Here in the UK I have twice taken debtors to court, or more correctly Issued a County Court Claim, as they were never contested I was awarded Judgement, and then had to request a warrant which cost more than the outstanding debt, but both debtors paid up in the end had to pay these costs as well.

If he has other businesses then it would be difficult for him to do a runner, and where is he going to run, back to the UK? probably not as I would guess he done a runner to Thailand because he has defrauded too many people back in the UK, a leopard never changes his spots, I would advise checking your contract is water tight and sue him.

[rhodie]

Name and shame him.

[wooloomooloo]

...or more correctly Issued a County Court Claim, as they were never contested I was awarded Judgement, and then had to request a warrant which cost more than the outstanding debt, but both debtors paid up in the end had to pay these costs as well.

But worth it. You inconvenience me and I'll inconvenience you.

[laban]

Name and shame him.

I am unsure this will do my cause any good (and unsure of Thaivisa rules about it), it might protect others from this crook.

[guzzi850m2]

Name and shame him.

I am unsure this will do my cause any good (and unsure of Thaivisa rules about it), it might protect others from this crook.

But could be dangerous too.

You never know if this is a violent type or not, people have been hurt or even killed here for less than 1/2 mill baht.

I think you should team up with the other guy than was cheated too and talk to some lawyers and share the cost as a % of your outstanding $ from this cheating bastard.

[KittenKong]

Name and shame him.

I am unsure this will do my cause any good (and unsure of Thaivisa rules about it), ...

I'm sure. Dont even think about it. (Shame though.)