Credit Card Issue in Thailand

[katiegod]

I owe some debit from my thai credit card a year ago... but now, i wish to continue to pay little by little.

Collector's agency still keep on calling and going to my work old place. Is that right?

Can you please give me some advise about this?. thanks

[Pib]

Go talk to the bank...face-to-face if possible. See what you can work out. Until then I expect the bank has loss faith in you, would believe little of what you may say, closed the account except for collection purposes. And they may have sold the debt to a collection agency which means you'll have to deal with the collection agency. But as mentioned, talk to the bank for starters.

[TallGuyJohninBKK]

In some other countries, there are laws and rules about just what debt collectors can and cannot do in seeking to collect debts.

Here, it often seems as though there are no such rules, at least in terms of how informal debt collection is pursued by various unsavory types.

You might check with the Bank of Thailand's Financial Consumer Protection Center, as well as hopefully contacting your bank and seeing if there's some way to reach agreement on a mutually accepted repayment process.

http://www.1213.or.th/en/Pages/default.aspx

It's not clear from your post whether the collection efforts you're facing are being done at the behest of the bank, or, as Pib noted, if they've sold the debt to some other party and are no longer directly involved. Hopefully your bank can answer that for you.

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[natway09]

Chances are that if over 12 months old, & no regular payments made your account will have been closed & debt sold to an agency at a reduced price for collection.

1) Get your arse down to the bank where issued & talk (should have done this 12 months ago) May not help but won't bite either.

or 2) Talk to the credit collection agency, if they hear that you are going to even drip feed they will be happy.

& yes, they have the right to annoy the hell out of you until you pay or they realize that they cannot get blood out of a stone.

If you cannot settle, could be in the credit wilderness for upwards of 10 years so try to sort out soonest.

Best of luck

[KhnomKhnom]

USUALLY, once your debt is sold to a collection agency, the bank then has no more to do with the debt....... the debt is moved on to another owner. Usually, bank CAN NOT help you due to not owning the debt anymore.

You likely will never hear the end of this... ten yrs or more. Unlikely that you can buy yourself out by drip feed... so offer ten cents on dollar for immediate total cash payout.

Think like an agency.

[Mzungu]

Thai bank policy makers are retarded. They will not allow me to have ATM debit card that is linked to my Thai bank account and I couldn't withdraw more than I actually have on my account. Guess they might somehow think I would be able to withdraw more and escape overseas? But they were happy to give me full credit card and 500,000 baht credit limit. Thai bank logic at its best.

[kinmaew]

Take the Thai example and "Flee the scene"

[Petchou]

Thai bank policy makers are retarded. They will not allow me to have ATM debit card that is linked to my Thai bank account and I couldn't withdraw more than I actually have on my account. Guess they might somehow think I would be able to withdraw more and escape overseas? But they were happy to give me full credit card and 500,000 baht credit limit. Thai bank logic at its best.

It has nothing to do with Thai policy makers, this is credit cards and banks ways of doing business. In US and Canada, they are giving credit cards to kids almost, to unemployed, to anybody who wants them....