Thai woman self-immolates over loan

[Thongkorn]

Loan sharks are the Big money people in Thailand , That's how they get there Big money, They lend to people who they know cannot pay back, Usually the borrower has land and hands over the chanut. I know because My Wife Bought a chanut off a money lender, Her cousin borrowed about 300 000 baht on her land and house, and was in danger of losing everything, because they wanted nearly a million back in less than a year. knowing that the 300 000 baht borrowed on the land was nothing compared to the true value. they stood to gain in payment default. Again its about money number one. As most people know Thailand is obsessed all about money, ,

Edited October 15, 2014 by Thongkorn

[englishoak]

Desperate people do desperate things.

hope she recovers

[catweazle]

I think this one is far more a sign of a downward spiral Thailand is in than a parked car...

Fear that she won't make it. Have a safe and pain free transition to a much better place, where money won't matter, Mrs. Raksapetch ! Hopefully you made some of the officials being guilty of letting loan sharks roam about in Thailand unpunished think twice now.

Perhaps about time to set some of those Muak Gan Nok debt collectors on their 125cc racers on fire to make a statement and "ignite" a change!

[GOLDBUGGY]

Well if you decide it is time to go....there must be a better method than this?

[horisize]

http://www.newscientist.com/article/mg21228354.500-revealed--the-capitalist-network-that-runs-the-world.html#.VD6TwVYkOPU

http://wakeup-world.com/2013/02/18/all-corporations-banks-and-governments-lawfully-foreclosed-by-oppt/

Edited October 15, 2014 by horisize

[seajae]

this is totally confusing due to thew fact that once again the facts are not forth coming. It starts out as a 400,000 baht loan then it increases to 1.5 million then it becomes she borrowed 1.5 million in total from several different villagers and never paid any of it back. When they put up a story like this it would be great if they could add the facts to it instead of guesses and general bullsh*t like they did on with the KT murders. Did she borrow money then never make any payments(something many thais seem to think is ok) and the interest compounded, did she borrow the money off several other people then again never pay it back as claimed in one newspaper or was she taken in by a loan shark. With no actual facts this story is a total farce, was she trying to get the govt to pay her loan or cancel it, was it even legal or was she just looking for a way out to save face which is something else some tend to do after blowing the money on whatever they wanted to and then not being able to pay it back. I feel very sorry for the lady involved but more so for her family, this will cause then a lot of distress. This country needs legal aid and mental health people to stop this sort of thing from happening, maybe also they need to teach people that when you do borrow money you are responsible to pay it back with interest and that it doesnt expire just because you dont have the money to do so or dont want to pay the money back at all, a lot tend to think that if they dont make any payments the person that loaned the money will simply forget about it like several school teachers I know.

Edited October 15, 2014 by seajae

[mdmayes]

She would have been better off dead than alive. Recovering from burns can lasts years and is very painful. I do wish her the best.

[ClutchClark]

I am sorry but pure and utter stupidity and hand out mentality.

She made a private deal without knowledge and consultation with the lawyers.

Why should government help?

The time for the Gov't to help was by making small-business loans available to small farmers.

By offering schooling and consultation to warn the poorly educated masses about the risks of loan sharks.

To create laws and civil court so that victims of usury practices can have someone to turn to for remediation and assistance.

This woman was provided none of those things.

Thailand is a land without a safety net so when you trip you keep falling until you crash.

This is very different from the wonderful country you came from.

Cheers

[soundman]

I have removed a bunch of posts for trolling, flaming, and associated replies.

Be civil, and have some respect for the victim.

[MAJIC]

When are they going to deal with Loan Sharking? that can drive poor people to suicide,and beyond, I despair!

[MAJIC]

I am sorry but pure and utter stupidity and hand out mentality.

She made a private deal without knowledge and consultation with the lawyers.

Why should government help?

The time for the Gov't to help was by making small-business loans available to small farmers.

By offering schooling and consultation to warn the poorly educated masses about the risks of loan sharks.

To create laws and civil court so that victims of usury practices can have someone to turn to for remediation and assistance.

This woman was provided none of those things.

Thailand is a land without a safety net so when you trip you keep falling until you crash.

This is very different from the wonderful country you came from.

Cheers

"Thailand is a land without a safety net so when you trip you keep falling until you crash."

Yes! but sadly it's also a Country of victims! the winners pay for the losers!

[ClutchClark]

The time for the Gov't to help was by making small-business loans available to small farmers.

By offering schooling and consultation to warn the poorly educated masses about the risks of loan sharks.

To create laws and civil court so that victims of usury practices can have someone to turn to for remediation and assistance.

This woman was provided none of those things.

Thailand is a land without a safety net so when you trip you keep falling until you crash.

This is very different from the wonderful country you came from.

Cheers

"Thailand is a land without a safety net so when you trip you keep falling until you crash."

Yes! but sadly it's also a Country of victims! the winners pay for the losers!

A way for "winners" to avoid paying for "losers" is to educate them not to lose in the first place...but, then ofcourse, your winners would not be able to exploit them.

[Strangebrew]

Borrower or lender never be comes to mind. And burns hurt like a b-tch too.

[Tokay]

When are they going to deal with Loan Sharking? that can drive poor people to suicide,and beyond, I despair!

This is going to sound harsh, but what is the problem with them? People are not forced to borrow money from them, so why is it a problem when they do? If I borrow money from my bank back home and use my house to guarantee the loan, and I don't pay, I lose the house. That's that. If loan sharks break your legs, take whatever you have, or worse, you knew that going in. DON'T BORROW FROM LOAN SHARKS unless you're willing to end up in a ditch. But no, they borrow from these dangerous people, knowing the risks, and it blows up in their face. I can't say I feel sorry for people who end up on the short end of the stick when dealing with loan sharks. There is always a choice to be made, they chose poorly.

[Sirbergan]

When are they going to deal with Loan Sharking? that can drive poor people to suicide,and beyond, I despair!

This is going to sound harsh, but what is the problem with them? People are not forced to borrow money from them, so why is it a problem when they do? If I borrow money from my bank back home and use my house to guarantee the loan, and I don't pay, I lose the house. That's that. If loan sharks break your legs, take whatever you have, or worse, you knew that going in. DON'T BORROW FROM LOAN SHARKS unless you're willing to end up in a ditch. But no, they borrow from these dangerous people, knowing the risks, and it blows up in their face. I can't say I feel sorry for people who end up on the short end of the stick when dealing with loan sharks. There is always a choice to be made, they chose poorly.

Desperate people will do desperate things. Loan sharks exploits that. That's the problem. I've personally seen a person lending money from a family member at a 20% interest rate. ATM card was kept as as a guarantee, and the person in question had a very low salary. This is the wild wild west.

Edited October 15, 2014 by Sirbergan

[Sirbergan]

When are they going to deal with Loan Sharking? that can drive poor people to suicide,and beyond, I despair!

This is going to sound harsh, but what is the problem with them? People are not forced to borrow money from them, so why is it a problem when they do? If I borrow money from my bank back home and use my house to guarantee the loan, and I don't pay, I lose the house. That's that. If loan sharks break your legs, take whatever you have, or worse, you knew that going in. DON'T BORROW FROM LOAN SHARKS unless you're willing to end up in a ditch. But no, they borrow from these dangerous people, knowing the risks, and it blows up in their face. I can't say I feel sorry for people who end up on the short end of the stick when dealing with loan sharks. There is always a choice to be made, they chose poorly.

Walk a mile in this person's shoes, and perhaps you would see her choices differently. It's very easy to sit there in the comfort of your own home and judge other peoples actions without knowing where they're coming from.

We live in a very exploitative country. Might not look that way inside your bubble of bliss, but we actually do.

[kerrysum]

The key facts about the loan are not clear:

How long has the loan been outstanding?

***

Things you only find out later down the road..... Interest only loans are the big fad in Thailand now...... I know, my sister-in-law, is in to it for 1Million

Thai baht, no terms or contractural agreement.... This isn't new in Thailand folks..... It has been going on for many years......

Kerry

[maswov]

are the loans regulated for what interest can be charged and rates? could be the wild west with the new credit people are getting and not understanding compound interest or what they are signing up for .

I don't think anyone does compound interest here. I bought a Honda Brio and it turns out the used simple interest to calculate the payments. I think Kasikorn Bank handled the financing. Other loans I have seen are more like a bond, each month interest is due while the principle remain unchanged.

[minikev]

I seriously consider signing off with Thai visa daily now. I've used it every day for many years. I think some people on here feel a NEED to post on every thread.

Some of the posts here are so inhumane they make me worry as to the way peoples morals are rapidly changing. We see too many horrible pictures and judge without the facts.

This poor woman was probably in a situation that she had to pledge her land to plant again. Not able to pay the full loan back the interest rates increased to a state that she is desperate to attempt suicide in the most painful way. She will probably die the most painful and slow death for borrowing some money. Some people on here just say pretty much serves her right. I think it's very sad firstly that she felt in such a corner this was her way out and secondly that people have no sympathy cos they didn't have to take out such a lone.

[craigt3365]

A few more heartless comments have been removed from view. Please show some respect.

[choochoo]

Why herself why not the..... House?

if she burnt the house she would still be in debt.

[horisize]

When are they going to deal with Loan Sharking? that can drive poor people to suicide,and beyond, I despair!

Who are "they" ? Are you refering to "government", the loan sharks of all loan sharks? if so...dont hold your breath.