Thai loan shark gang executes victim inside his own house

[paz]

Well, if you used little common sense you would understand he was killed because he was not paying or not paying enough.

Now the moral of the story is, dead man can not pay at all.

Yes a moron would make an example and loose all potential customers.

Hope you not working in marketing or i would be worried for company;s future

Four more lines of nonsense and assumptions. Highly coherent with most of your postings.. keep doing.

[Pralaad]

There not going to get their money back now

The story quotes the son saying his father left his job some time ago and took the loan to open his own restaurant. Depending on how long some time is, the loan sharks may have had their initial investment back many times over before they decide to make an example of this guy.

Sent from my KFTT using Thaivisa Connect Thailand mobile app

and do you think someone with quarter of a brain would use the little he has and not scare all potential borrowers?

do you think people around will be queening up to borrow from this particular lender?

and if he has recovered the initial investment, would it not be wise to make some payment plan to keep on getting paid?

[Pralaad]

Well, if you used little common sense you would understand he was killed because he was not paying or not paying enough.

Now the moral of the story is, dead man can not pay at all.

Yes a moron would make an example and loose all potential customers.

Hope you not working in marketing or i would be worried for company;s future

Four more lines of nonsense and assumptions. Highly coherent with most of your postings.. keep doing.

Are not you running late for the last flight out, time to pack perhaps? no more visa runs

[surangw]

too bad the story was not about loan shark verses shot gun blast.

[Pralaad]

too bad the story was not about loan shark verses shot gun blast.

May still to come.

Remember the guy who shot chicken noodle soup vendor because vendor refused to give more sauce?

All that, over 30 baht meal.

Or an idiot who chased a customer out and stabbed him to death for unpaid bill of something like 200 baht.

In this country, the most impossible and unimaginable does become reality

[paz]

Well, if you used little common sense you would understand he was killed because he was not paying or not paying enough.

Now the moral of the story is, dead man can not pay at all.

Yes a moron would make an example and loose all potential customers.

Hope you not working in marketing or i would be worried for company;s future

Four more lines of nonsense and assumptions. Highly coherent with most of your postings.. keep doing.

Are not you running late for the last flight out, time to pack perhaps? no more visa runs

Surely my or anybody else misfortune would make you happy, but you run out of luck today.

[Pralaad]

Well, if you used little common sense you would understand he was killed because he was not paying or not paying enough.

Now the moral of the story is, dead man can not pay at all.

Yes a moron would make an example and loose all potential customers.

Hope you not working in marketing or i would be worried for company;s future

Four more lines of nonsense and assumptions. Highly coherent with most of your postings.. keep doing.

Are not you running late for the last flight out, time to pack perhaps? no more visa runs

Surely my or anybody else misfortune would make you happy, but you run out of luck today.

Nah, in reality i really sympathize with system scammers and really do sympathize with foreigners who think 1000 baht is huge money

[somchaismith]

There not going to get their money back now

The story quotes the son saying his father left his job some time ago and took the loan to open his own restaurant. Depending on how long some time is, the loan sharks may have had their initial investment back many times over before they decide to make an example of this guy.

Sent from my KFTT using Thaivisa Connect Thailand mobile app

and do you think someone with quarter of a brain would use the little he has and not scare all potential borrowers?

do you think people around will be queening up to borrow from this particular lender?

and if he has recovered the initial investment, would it not be wise to make some payment plan to keep on getting paid?

I disagree, I think that it would only discourage the customers who believe that they may default on a loan.

I know that the Thais take the view that, I'm not going to default, so I won't meet the same demise as that fella. so no problem.

However, it is sound maxim that, if you start bumping people off, you will yourself, more than likely finish up either floating in the klong or living in the monkey house

Edited May 13, 2014 by somchaismith

[MW72]

There not going to get their money back now

The story quotes the son saying his father left his job some time ago and took the loan to open his own restaurant. Depending on how long some time is, the loan sharks may have had their initial investment back many times over before they decide to make an example of this guy.

Sent from my KFTT using Thaivisa Connect Thailand mobile app

and do you think someone with quarter of a brain would use the little he has and not scare all potential borrowers?

do you think people around will be queening up to borrow from this particular lender?

and if he has recovered the initial investment, would it not be wise to make some payment plan to keep on getting paid?

This won't scare away potential borrowers. People who use loan sharks are generally desperate and have nowhere else to go. When you are desperate you will do anything to try and get yourself out of a hole. You will also persuade yourself you can pay the money back.

As others have said, this was them setting an example. If they let one guy away with not paying then the potential losses when others stop paying could be millions. They have probably done this to protect their larger investments.

Sent from my KFTT using Thaivisa Connect Thailand mobile app

[Torrens54]

There not going to get their money back now

Loan sharks, sound more like a bunch of CRAYFISH.....I'm sure we ALL know what CRAYFISH (Lobsters) have for Brains! SH..

[Pralaad]

There not going to get their money back now

The story quotes the son saying his father left his job some time ago and took the loan to open his own restaurant. Depending on how long some time is, the loan sharks may have had their initial investment back many times over before they decide to make an example of this guy.

Sent from my KFTT using Thaivisa Connect Thailand mobile app

and do you think someone with quarter of a brain would use the little he has and not scare all potential borrowers?

do you think people around will be queening up to borrow from this particular lender?

and if he has recovered the initial investment, would it not be wise to make some payment plan to keep on getting paid?

This won't scare away potential borrowers. People who use loan sharks are generally desperate and have nowhere else to go. When you are desperate you will do anything to try and get yourself out of a hole. You will also persuade yourself you can pay the money back.

As others have said, this was them setting an example. If they let one guy away with not paying then the potential losses when others stop paying could be millions. They have probably done this to protect their larger investments.

Sent from my KFTT using Thaivisa Connect Thailand mobile app

May i ask where you get the idea that people who use loan sharks are desperate? and where you get the idea that this was the first bump?

As i have said, and will say it again, anyone with half a brain would not do that and it does scare away potential customers.

In case you have not noticed, in this country many do not use their brain at all, perfect examples

1. shooting over 30 baht chicken sauce

2. stabbing over 200 baht unpaid bill

3. Self performed operation to increase dick size

4. stabbing over wrong drink, or wrong look.

And the list goes on

[Deez]

1,000 baht a day on an unsecured loan of 300,000 is only 10% interest, not a bad deal. Better than some banks here, the banks are the real loan sharks.

If you think that 120%/year interest is good I would love to do business with you.

[MW72]

This won't scare away potential borrowers. People who use loan sharks are generally desperate and have nowhere else to go. When you are desperate you will do anything to try and get yourself out of a hole. You will also persuade yourself you can pay the money back.

As others have said, this was them setting an example. If they let one guy away with not paying then the potential losses when others stop paying could be millions. They have probably done this to protect their larger investments.

Sent from my KFTT using Thaivisa Connect Thailand mobile app

May i ask where you get the idea that people who use loan sharks are desperate? and where you get the idea that this was the first bump?

As i have said, and will say it again, anyone with half a brain would not do that and it does scare away potential customers.

In case you have not noticed, in this country many do not use their brain at all, perfect examples

1. shooting over 30 baht chicken sauce

2. stabbing over 200 baht unpaid bill

3. Self performed operation to increase dick size

4. stabbing over wrong drink, or wrong look.

And the list goes on

"May i ask where you get the idea that people who use loan sharks are desperate?"

I get that idea from the fact that loan sharks charge way above the going interest rate compared to any legitimate lender and that the penalties for defaulting on the loan generally include physical violence and at worst death. People usually resort to loan sharks as they cannot borrow money from any other source and despite knowing the extortionate repayments and consequences of failing to repay, they still go ahead and borrow money therefore making them desperate.

As for the 4 examples of Thais failing to use their brains that you have provided, I am sure that this is not representative of all Thais and you could find examples of people who kill others for little or no reason in any other country in the world.

[Tokay]

Thailand: The hub of loan sharks

[noitom]

The Thai cook "quit" his job. Then several months later had the bright idea to try to start his own restaurant and sought black market loan shark funding with a very high vig per day. Too bad, but it's an old and often repeated Thai story.

Thais seem to quite first and then start the legitimate or hair brained idea on the spot. They rarely if ever lay the ground work and plan in place with adequate funding. It's always a last minute thought to secure funds and try to tap in to relatives first then friends and then loan sharks. That's it, the end game. They are defeated before he quite his famous restaurant position. He never used the position to market and seek investors for his new restaurant. If he were famous as the cook, why couldn't he secure legitimate investors? Sorry, but this is an old frequent Thai hard luck story.

[3NUMBAS]

cant they turn their attentions to Mr Suthep and solve the countries impasse

[surangw]

as long as the outcome would be the same, I would like to see the rice scheme persons borrow the money from the loan sharks to pay the farmers.

[ezzra]

There not going to get their money back now

Aha, that when the plot get thicken.... now they're going to lean on the son, kinda the sin

of the father now become the burden of the son....

[binjalin]

just horrible no matter how stupid the borrowing was... RIP

[bobl]

Thailand: The hub of loan sharks

Have you checked Wonga's apr recently? 5853%.

[emondorock]

I learnt my lesson lending (giving) money to thais. Nearly ended up in jail for doing someone a good deed. Never again will I lend a Thai money. Seen the Mafia in action in Isaan not a pretty sight and yet Thais still borrow knowing full well of the consequences of their actions, stupid bastards.

[prakhonchai nick]

One of the proffesions frowned upon by Lord Buddha in the sense it was not considered right livelihood. RIP poor man.

Did they have loan sharks 2,500 years ago?

[CTO]

Common knowledge any time you see two guys on a motorbike with full face helmets and no number plates - debt collectors,

Hardly a day goes by when I don't see them,

[bobl]

One of the proffesions frowned upon by Lord Buddha in the sense it was not considered right livelihood. RIP poor man.

Did they have loan sharks 2,500 years ago?

Of course they did. Usury is as ancient as Prostitution.

Sent from my i-mobile IQ 6.2 using Thaivisa Connect Thailand mobile app

[soalbundy]

You would have to be a complete retard to kill someone who owes you money.

A dead person can not give back the money.

Those with half a brain would work out a payment plan to keep on getting the money

but it is a good warning to others to keep paying or else

[tubby johnson]

This government pledged to eradicate the loan sharks. Another failed promise.

[Maggusoil]

More like an "example" than a cover up. This could happen to you.

[samjaidee]

1,000 baht a day on an unsecured loan of 300,000 is only 10% interest, not a bad deal. Better than some banks here, the banks are the real loan sharks.

I don't know the formulae to work out APRs but what I do know using simple maths is that 1,000 baht per day x 30 = 30,000 per month. 30,000 is 10% of 300,000 therefore 10% x 12 = 120% per annum.

That is not comparable to a bank.

[tx22cb]

Thailand, may lack what it takes be the hub of most things, but she certainly takes the first prize for being Asia's hub of loan sharks.

Thailand not even close to 1st place. Ever lived in Hong Kong? Macau?

[eddie830]

1,000 baht a day on an unsecured loan of 300,000 is only 10% interest, not a bad deal. Better than some banks here, the banks are the real loan sharks.

my reckoning is over 300%