Debt Collectors caught harassing debtor in Central Pattaya

[webfact]

Debt Collectors caught harassing debtor in Central Pattaya



PATTAYA: -- In the early hours of Sunday Police arrested two men suspected of working as debt collectors as they attempted to scare a debtor into paying an outstanding debt.

The two men were caught at a house in Soi 31 off Pattaya Third Road as they were conducting a visit where intimidation was used to persuade the debtor to pay the outstanding debt or face consequences.

Khun Pongsagorn aged 20 and Khun Wantana aged 26 were arrested and taken to their home in Chockchai Village 4 in Soi Neun Plub Wan where evidence of their illegal money lending activities were found.

Full story: http://www.pattayaone.net/pattaya-news/135695/debt-collectors-caught-harassing-debtor-in-central-pattaya/


-- Pattaya One 2014-07-21

[ukrules]

Illegal money lenders are scum who prey on the poor and disadvantaged, they deserve a full and complete confiscation of all assets.

Edit: This pair of idiots are almost certainly just hired enforcers.

Edited July 21, 2014 by ukrules

[Robroona]

Doesn't matter what happens to these guys. The debt will still need to be repaid.

And the rates have just increased a whole lot.

Better head for the hills

[shirtless]

If you need these sorts of loans you are really screwed.

[lostsoul49]

The police are no better.

A few nights ago sat in a large buffet restaurant, two police strolled in and straight up to the bill checker. A bunch of notes were handed to the officers ad they calmly walked off... Probably 1K baht from what I could see.

Everything directly in front of in excess of 200 customers.

I said to the wife, 'I thought the Junta would be stopping all this corruption'.. She replied, 'here everyone must pay or they have problems'.

So basically, extortion and protection racketeering, which I rank above loan sharking.... Is alive and well in Korat.

[klauskunkel]

what on earth do those two shrimp use to intimidate and harass? Halitosis?!

[balford]

Halitosis is better than no breath at all...

Bob A. Relaxed in Lampang

[chuenyongman]

I have discovered there are a few people around with Halitosis.

[ezzra]

As heartless and cruel those loan sharks and debt's collectors may seems, these kind of activities

are deeply rotted in Thai society for hundreds of years past, it's part of the market mechanism

and the Thai economy and not only in Thailand, this is a world wide practice mainly in 3rd

world counties, simply put, for a certain segment of the society have no where to turn to get

money for a short period to see them through.. it's either that or steal, starve, and prostitute your

self or your siblings...

[Cake Monster]

These kind of loan sharks will never be out of business, because a significant amount of debt in Thailand is " off the books " debt held outside the mainstream banking system.

These debts are typically 20% per month interest only debt with a final payment to be made of loan amount + 20 %, but for many, many people ( mainly the poor ) this is the only way to obtain money for things like school fees Etc

Big business for the ruthless

[hotrod4098]

money lending is rife..issan big buisiness...borrow 1000..can be 200 a day interest..so it seasy to be a money lender and borrower..

thais borrrow money when they do not need to...asked quite a few why...not use my money use some one elses the reply...the whole thing is just the way they are ..and it will never change..

[Basil B]

Do the police now wear military camouflage and carry riffles?

If so certainly makes them more effective.

[Asiantravel]

If you need these sorts of loans you are really screwed.

“ customers were charged 20% per day on the amount they had borrowed. : “

Unbelievable!

[petercool]

A derogatory post hidden

[cornishcarlos]

Its big business for Honda as well. They all ride CBR150s, Imagine how many there are scattered all over Thailand.

But at least these debt collectors are a small minority that wear a helmet, good role models for the kids today

[slipperylobster]

Actually, the best way to avoid getting killed over a debt is to borrow a huge sum...a few million.

They won't kill you as they stand to lose to much money.

Seriously, I know a lady who borrows constantly. She pulls off a pretty good defense, keeps a gun near her, etc.

She will scream and shout at the Chinese collectors, who are actually afraid of her. She owes about 3 million, and refuses

to pay the interest (which is double that and goes up daily)

She says the interest rates are illegal, and threatens to hire a lawyer to prosecute them.

Needless to say, I keep my distance when in the company of this lady. One day, things might happen.

There is no written contract, and the chinese will not go to court.

[petercool]

It is also illegal to borrow money with little or no intention to repay the loan ..... your implied advice might be tongue in cheek but I would not suggest anyone follow it .....