Creditor cancels THB1.5 debt after woman burns herself alive

[h90]

I doubt that it was merely the debt that forced such action, but rather threats about what will happen if they don't get their money!

Normally those loans are backed with land etc, well over the actual loan.

Well if having land in the right value and correct documents, every bank would be happy to give her a loan.

[h90]

I was under the impression that money lending is a crime.

Lets see how long the illegal money lender goes to prison for

Thai law states creditors may only ask for a maximum of 15 per cent interest per year, and must register their businesses for tax purposes. Failure to do so may result in jail, a B1,000 fine, or both. - See more at: http://www.thephuketnews.com/swimming-with-sharks-loan-sharks-are-common-and-so-are-their-victims-28354.php#sthash.24ebmWKY.dpuf

Some charge that much or more per month. And more info here - http://www.refworld.org/docid/52ab0f4b4.html

Yes I've seen it on TV last night they said interests were 10% a month...

I did asked my wife two times if I had understood well , yes 10% every month...pure madness!

Well it is high risk....I guess the loan shark also looses a lot money.

Maybe it is intent just for short time. Like 1 week.

But well, still madness

[mikiea]

but it is acceptable, the fact that people use them is acceptance. kick in the behind ? who made you the punishment czar ? go back to whatever nanny state you came from. this is life here. not in lala i need to feel good about myself land sheeeeese........... :-)

[mikiea]

listen up, canada is a big loan shark itself :-)

[KarenBravo]

Well if having land in the right value and correct documents, every bank would be happy to give her a loan.

Not really. The bank doesn't want land, they want their cash back. That means "sellable land". A small plot on a main road in a town is far better collateral for a loan than a huge piece of agricultural land in the middle of nowhere. Edited October 17, 2014 by KarenBravo

[mango66]

I doubt that it was merely the debt that forced such action, but rather threats about what will happen if they don't get their money!

Also I doubt that it was because of his good heart to cancel the loan but rather what will happen to him if he didn't take that action.

isn't a loan like this illigal in thai,

and there ! Must " be a polica case against this loan shark anyway ??

[risky11]

I will never loan money again. If someone NEEDS to borrow money, they (by definition) are broke and getting broker. They will never pay you back. If they want a loan against property, fine. When (not if) they default, you own the property. They SOLD it to you for the cash you PAID them. Lenders are angels, not scum. People who renege on their promises to pay are scum.

Edited October 17, 2014 by risky11

[mango66]

Instead of stepping up security in government offices to prevent people killing them selves. Maybe they should spend the money and time shutting down the loan sharks by declaring all loan shark loans void. And arrest anyone who tries to collect loans along with the lenders.

That should put an immediate halt to the practice of loan sharking.

Why do we need a nanny state for everything?

Control when we buy alcohol

Control from who I am allowed to borrow money (only from the rich banksters of course)

Control at what time I must go home

Control what substances are legal

Control this, control that......if the loan shark and woman are over 18, it is not the business of the country what they do with their money.

Against violence (when collecting) there are already laws.

better for you you go to Africa, I recommand DR Congo !

You will not have any controll

[Wat dee]

I doubt that it was merely the debt that forced such action, but rather threats about what will happen if they don't get their money!

Normally those loans are backed with land etc, well over the actual loan.

Well if having land in the right value and correct documents, every bank would be happy to give her a loan.

You are right.But lot of people have burned their names/credit with pick up loans etc. And if you cant read...

[mikiea]

why dont you do that shoe? i would have. .... what is wrong with you?

[Richo68]

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Scum probably got back most of the original amount already. How generous to forgive the interest after the poor lady immolated herself. alt=bah.gif>

Scum? If I give you a credit we together grown up sign a contract. Which has a high interest rate because the risk of not getting the money back is high. Later you don't pay your part and I am the scum??????

No one forced her into borrowing the money. And 400.000 are surely not because she was starving and need some pork to eat together with her rice.

If you are a small farmer 400.000 is a lot money.

Yeah scum....... According to Khaosod, Sangwien’s motive to commit self-immolation was an unfair loan contract. Sangwien reportedly secured a loan for THB400,000 but the creditor took advantage of her ignorance and pressured her into interest rate terms that saw her debt balloon to THB1.5 million.

[JacChang]

Next week, we will read more news of people setting themselves on fire. It's the right thing to do. It could even be on an advertisement banner.

Set Yourself on Fire!! Eliminate Debt! Get donations! A new life, a new start with wealth! Do it now!

[abitmiffed]

Thai's screwing Thai's..... Thai's slaughtering Thai's.. Thai's slaughtering, well we know but...what wa it the general said about his people?...

[billd766]

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The lady obviously has mental health issues. Other people simply go bankrupt when they can't pay debts, it's stupid to think anyone should be responsible to pay off the debts you incurred.

Meanwhile the Government seemed to be scambling to save face, are they worried they are not "returning happiness to the people".

It is nothing to do with the government. It wasn't their fault.

If you want a government to blame go back to when the lady first took out her loan and blame that government.

Blame the local government and the police for allowing it to happen.

Everybody wants this government under the general to fix everything instantly without thinking of how many problems there are that need to be solved.

Back in the mid 1990s when I used to drink in the bars of BKK some of the girls would borrow money at 20 baht per 1,000 baht per day. Get your calculators out and work out that interest rate. It was quite common in those days and I have no doubt that it still goes on.

Exactly right. It's her own fault. It's not the government's responsibility, so why are they acting like they need to save face? Was the "money lender" a government official?

Exactly wrong all of you! the loan sharks feed off the poor they are animals. They run loans outside of the law and often charge huge interest rates. So it is very much the responsibility of the government to do something, some of you have clearly been stuck in the 3rd world too long and some of your senses have eroded.

If you run deep into debt in your own country will your government bail you out.

I have an 18 year old Thai nephew who was so smart he quit school at 16 and was sent to us as nobody else in the family wanted him.

We took him in, my wife found him a job at 6,500 baht per month and we looked after his money.

We let him use our scooter to get to work.

As he had a job I charged him 50 baht a day to live with us and if he was away he didn't pay. That is for 2 or 3 meals a day, somewhere to sleep, laundry, electricity etc

In over 2 years the only time he paid was when we had control of his money. He crashed the scooter and did 10,000 bahts worth of damage which his Mum paid.

He leeched money from his grandmother because he spent all of his on himself.

He didn't like the scooter and persuaded his grandmother to buy him a motorbike. 3 months later he went to the local cars/bikes for cash and borrowed from them with the bike as security.

My wife managed to keep his job for him a year ago and at the end of last month he was fired from that. Earlier in September I told him if he didn't pay for staying with us he will have to go.

He left and hid in the village and popped up the grandmothers house for a shower and probably money too.

He leaves here for parts elsewhere though what he is going to do about his debt but it certainly will not be our problem.

He could always have spent more time at home and spent less money he would not have been in debt.

[wabothai]

It is not uncommon in thailand to look at consequences of a deal.

Sharks know that and feed off it.

They were scum, today they are scum and they always be scum.

[Lite Beer]

Mrs Sangwien’s condition has worsened

BANGKOK: -- The condition of Mrs Sangwien Raksapetch has worsened to the point that it has become a matter of grave concern for doctors who have been treating her at Wachira hospital.

Dr Pollert Panthanakul, the acting director of the hospital, said Saturday that the patient who set fire upon herself at a complaints centre in front of the Government House earlier of the week has high fever with the temperature rising to 39.2 C from 38.2 C a day earlier.

Latest report this morning shows that the patient’s body temperature still remains at 39.2 C.

DrPollert said that blood sample was taken from MrsSangwien for laboratorial tests yesterday to find out what caused the blood infection. Results are expected in 48 hours, he added.

Lung X-ray shows that her lung is normal but her white blood cell has dropped substantially from the normal rate of 24,000 to just 4,000, said DrPollert, adding that this is not a good sign at all.

Source: http://englishnews.thaipbs.or.th/mrs-sangwiens-condition-worsened/

-- Thai PBS 2014-10-19

[Daniel Boon]

I hope the loan shark has to pay for her medical bills, rather than the Thai government

[uptheos]

Anyone have an update on this situation?

[KarenBravo]

The news cycle has moved on........

[Thaiwine]

Her injuries will take a long time to heal

Any new news this soon would mean she died

So no news is good news

[Equals]

Woman who set herself on fire at Government House dies

March 17, 2015 1:52 pm

Sangwian Raksaphet, 52, who made headlines by setting herself on fire at the Government House's public complaint centre in October has died.
She died at 10 pm on Monday. Her body has been sent back to her home province of Lop Buri for funeral service.

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