Whom to call when we have a local problem

[Wat dee]

It is 15% per year by law, not per month.

http://www.siam-legal.com/litigation/debt-recovery-in-thailand.php

Sorry should had said per year and not month. Thing is, that even the interest rate is very high its a very common practise in Thailand.

Loan interest rates are up to 20% per month. That's why they are called loansharks.

[wabothai]

A few years ago during my absence my mia borrowed 150000 from a shark.

Landpapers gone. I asked mia how much interest she would have to pay.

She did not know, no papers. Too make a long story short i told the ladysharkteacher. She can go fly a kite, after screaming at her for 15 minutes, took her to the bank and gave her the amount and interest the bank would charge and of course the landpapers in exchange.

Now years later and better informed about shark ways i realize i took a big risk. Guess i was lucky.

Moral of the story: don't get involved with sharks male or female at any time, be tough though when the sh.. happens during your absence.

[KarenBravo]

It is 15% per year by law, not per month.

http://www.siam-legal.com/litigation/debt-recovery-in-thailand.php

Sorry should had said per year and not month. Thing is, that even the interest rate is very high its a very common practise in Thailand.

Loan interest rates are up to 20% per month. That's why they are called loansharks.

Read the post. We are talking about the maximum LEGAL rate of interest.

We all know what loan-sharks charge as you would have known if you had read the entire thread instead of jumping in mouth first.

[MobileContent]

My advise to the OP - Stay away from this whole business. This is not your problem. Its the problem of your inlaws but I sensing that the inlaws might use you (your wife might be included) to caugh up some money.

So many times have loan sharks already asked my in-laws to take a loan. They even approached my lassie and she politely declined. I see them driving daily in our village with their Black Honda CBR 250 and I told my lassie three years ago.

1) No gambling

2) No smoking or alcohol for her

3) No loans for her or any family members

4) A maximum amount I will contribute is 5000 Baht per month for any home expenses such as paying some food, water and electric bills plus I pay 20,000 Baht a year for sponsoring her young brother for a private school to have a better life one day.

If my lassie comes up with a loan shark story it will be the end of the relationship be it for her or the in-laws.

I went through that shit before once already and the relationship lasted 4 months. I paid off the loan shark but when my former lady touched cards again I left her.

Edited October 27, 2014 by MobileContent

[KarenBravo]

Jeez.......you sound like a real barrel of laughs to be with.

You must be able to lick your eye-brows......

Edited October 27, 2014 by KarenBravo

[SOMeTOM]

I feel sorry for your "lassie".

Why would you? ...or are you talking about the yoghurt (that's Lassi anyway, and great with a Kebab)?

[MobileContent]

Jeez.......you sound like a real barrel of laughs to be with.

You must be able to lick your eye-brows......

No need to feel sorry for my lassie.

My lassie has all the life she want. If you can't understand that my lassie doesn't drink, doesn't smoke and doesn't make debts (Yes we have no debts. the house is in her name in Isaan, the car and the condo in Bangkok is in my name and I do have money slashed away if I am departing this world earlier).

After 3 years we are fine but certainly only stupid farangs would got for that rubbish of bailing out some crook family that went to see a loan shark.

This story I hear all the time and in general all I can say is that another farang bites the dust for his money. His SIL went missing? I am sure she didn't called him and shared the money with him when she got the money from the loan sharks.

If I am the OP just dump the lassie.

Their are good people (womans) that have never taking a loan from some loan sharks but the key is filtering them out and sadly the OP didn't know when he married into the family.

BTW A good friend of mine shot another good friend of mine in Phang Khon. He borrowed 1.5 million Baht and the final bill was 3.5 million Baht. So he went over and popped her 3 bullets in the chest and two bullets in the hubby chest.

They both survived but strangely the guy that took the money and popped of those 2 Chinese Thai's is still free on bail. He got that nice Benz so I joked to him and told him why you don't sell it to me because you are going soon out to jail and he said I am not going to jail. Why would I be in Isaan if I have to go to jail. May be he goes to jail but sure not for long otherwise he would be in Laos already. My FIL was right this guy isn't going to jail.

To the OP just get rid of the lady you married. Now it is a loan-shark and surely next month will be another story. All you are is a walking ATM.

I always say you never know how you marry until the stories come in.

Edited October 27, 2014 by MobileContent

[MobileContent]

I would say that the 20% rate is charged on smaller loans, often it's 1% per day. And it's collected every day. 10% per month would be a good deal. It's crazy and how are these folks ever going to clear the initial money borrowed.

"It's crazy and how are these folks ever going to clear the initial money borrowed." - they are not supposed to clear the debt.

A farang is supposed to clear it for them.

Yes exactly and their are a lot of farangs that actually do it and later see them complaining on TV that their lassie screwed them.

[Khunangkaro]

@MobileContent,

You can be proud!

What an excellent dog keeper you are.

Might like to control your Lassies even better on a leash.

[MobileContent]

@MobileContent,

You can be proud!

What an excellent dog keeper you are.

Might like to control your Lassies even better on a leash.

Lassie is a nick name and it's cute. My dog I call Cookie by the way.

Nothing to do with a dog keeper only if you have something to neck about in your miserable life..

No need to take my lassie on a leash. We both have our limits and she is a very happy Lassie.

But when it comes about limit we both know where the limits are and certainly ganya powder from Udon has nothing to do in our life so go back to your Udon posting or if you have some meaningful to transmit to the OP go ahead. Wuff, wuff

Edited October 27, 2014 by MobileContent

[simon43]

Let the loan shark take the land - it will be a good lesson to your Thai family not to borrow money that they cannot repay, and especially not to think that they can rely on your naivity to pay up when they cry wolf.

[madmitch]

This whole post has turned into a loan-shark-fest but reading the posts, the OP has simply stated that the lady has disappeared, owing a loan shark money and having provided a chanote as collateral.

If it's not her land (and we don't know this) and she can't pay back the money she has possibly just disappeared out of the lives of the loan sharks and the landowners, something that is quite common here in Thailand. I know, or should I say knew, a few people that have gone missing owing money, basically doing a moonlight flit. Change of name, change of phone number, change of location and they think they are safe and they probably start over again.

[thaicatbuyer]

http://www.thaiprivateeye.com

I would start here...ask prices first

[honoluabay]

Thanks to the few with good advice.

Thanks for the info on where to get proper channels to proceed.

I got copy of said contract and have contacted the local government.

For the others that have nothing but negative and speculation on every situation on this forum.

I hope you never have any bad things happen to you. Karma's a Bitch man.

Aloha

[Wat dee]

It is 15% per year by law, not per month.

http://www.siam-legal.com/litigation/debt-recovery-in-thailand.php

Sorry should had said per year and not month. Thing is, that even the interest rate is very high its a very common practise in Thailand.

Loan interest rates are up to 20% per month. That's why they are called loansharks.

Read the post. We are talking about the maximum LEGAL rate of interest.

We all know what loan-sharks charge as you would have known if you had read the entire thread instead of jumping in mouth first.

We all know what are interest rates for legal loans. OP is about different kind of loans so what the point of stating obvious. You might have some sand in your ...better wash it.

[stevenl]

We all know what are interest rates for legal loans. OP is about different kind of loans so what the point of stating obvious. You might have some sand in your ...better wash it.

OP is not about loans, that is what you all made it about.

[Khunangkaro]

@MobileContent,

You can be proud!

What an excellent dog keeper you are.

Might like to control your Lassies even better on a leash.

Lassie is a nick name and it's cute. My dog I call Cookie by the way.

Nothing to do with a dog keeper only if you have something to neck about in your miserable life..

No need to take my lassie on a leash. We both have our limits and she is a very happy Lassie.

But when it comes about limit we both know where the limits are and certainly ganya powder from Udon has nothing to do in our life so go back to your Udon posting or if you have some meaningful to transmit to the OP go ahead. Wuff, wuff

To stay on topic:

My once a GF in Mae Hia CNX told me her late brother involved in money lending was killed because of.

Not my cup of tea.

Going to get rid of weeds in my garden now.

Metta.