Debt Negotiators

[remaxtony]

My Thai gf has two debts to lenders that she was not able to pay back. She stopped making payments just over one year ago. They are not credit cards, but borrowed cash on one acct where they gave her a debit card to use to withdraw cash similar to a line of credit, and the other was buying a refrigerator.

At any rate, now neither account will negotiate with her and are demanding payment in full after accumulating interest and penalties every month of course.

Does anyone know of a company, or lawyer, or person in Thailand that specializes in helping Thai people settle their debts and negotiate on their behalf?

In the USA, we have lots of firms that will negotiate these settlements for a lump sum payment now at a reduced amount. Any tips would be appreciated.

Thanks

[Costas2008]

I can tell you of one to help her......and that is YOU.

Forget about lawyers or persons specializing in Thailand.

She defaulted on her debts .....she has to pay.....and I mean you have to pay.

[georgemandm]

I can tell you of one to help her......and that is YOU.

Forget about lawyers or persons specializing in Thailand.

She defaulted on her debts .....she has to pay.....and I mean you have to pay.

Good on your costa you are wright

[georgemandm]

She went out and borrowed money now sorry to say has to pay it back or you have to pay it back for her look not sure how much you know about thai people but they just love to put there self in debit and not think about paying it back so to her som nam nar

[ezzra]

Let's try to be a bit more clearer than other contributors, the answer in NO, no independent

negotiators are available in this country, not that i know of and i know a lot.

If you GF doesn't have any asset to her name that can be confiscated than all you/she

need to do is to write formal letters to all the creditors, admitting liability and offering a monthly

payment plan according to her abilities to service the loan, post those letter registered post

and make sure that they were delivered,

Come the time to go to court, the judge will be very sympathetic to some one who's down on their

luck but still willing to pay as long as it take to pay it all up, and believe me, those creditors

will have to be happy ,in the end, with what the lady can afford to pay.....been there, that's

how i know......

[remaxtony]

Let's try to be a bit more clearer than other contributors, the answer in NO, no independent

negotiators are available in this country, not that i know of and i know a lot.

If you GF doesn't have any asset to her name that can be confiscated than all you/she

need to do is to write formal letters to all the creditors, admitting liability and offering a monthly

payment plan according to her abilities to service the loan, post those letter registered post

and make sure that they were delivered,

Come the time to go to court, the judge will be very sympathetic to some one who's down on their

luck but still willing to pay as long as it take to pay it all up, and believe me, those creditors

will have to be happy ,in the end, with what the lady can afford to pay.....been there, that's

how i know......

Thanks for answering my question directly.

In reference to the other replies, I am aware that it is not good for people to default on debt. I am also aware that I can help. But, nonetheless, some people have to post the obvious. As if the only people that acquire debt are Thai's. People default on loans in every country.

I wanted to know if there is a way to negotiate these loans to a lesser amount. I didn't ask for the morality of Thai culture. And even if I decide to pay them for her, I want to negotiate the debts down, duhhhhh!!! Why wouldn't I try.

[CharlieH]

Moved to "money matters"

[Robert24]

One way is to default and go to court. If she has no assets they can't take it away. By the way the law here doesn't allow the government to repossess land or property against debt. This option might be the better one than you paying her debt. There are thousands of Thais who are defaulting on their loans. You can either fully go bankrupt or you declare in court that you are willing to pay something and then usually the court will order her to pay 500 baht per month over a certain amount of years.

[Asiantravel]

Let's try to be a bit more clearer than other contributors, the answer in NO, no independent

negotiators are available in this country, not that i know of and i know a lot.

If you GF doesn't have any asset to her name that can be confiscated than all you/she

need to do is to write formal letters to all the creditors, admitting liability and offering a monthly

payment plan according to her abilities to service the loan, post those letter registered post

and make sure that they were delivered,

Come the time to go to court, the judge will be very sympathetic to some one who's down on their

luck but still willing to pay as long as it take to pay it all up, and believe me, those creditors

will have to be happy ,in the end, with what the lady can afford to pay.....been there, that's

how i know......

Thanks for answering my question directly.

In reference to the other replies, I am aware that it is not good for people to default on debt. I am also aware that I can help. But, nonetheless, some people have to post the obvious. As if the only people that acquire debt are Thai's. People default on loans in every country.

I wanted to know if there is a way to negotiate these loans to a lesser amount. I didn't ask for the morality of Thai culture. And even if I decide to pay them for her, I want to negotiate the debts down, duhhhhh!!! Why wouldn't I try.

I don't think people are referring to morality the way you think they are.I think it's the morality (or perhaps lack of it) of some debt collectors and their methodology that you should be more worried about.

Perhaps you want to help your girlfriend avoid coming into contact with any unsavoury people by helping her now.

[georgemandm]

Let's try to be a bit more clearer than other contributors, the answer in NO, no independent

negotiators are available in this country, not that i know of and i know a lot.

If you GF doesn't have any asset to her name that can be confiscated than all you/she

need to do is to write formal letters to all the creditors, admitting liability and offering a monthly

payment plan according to her abilities to service the loan, post those letter registered post

and make sure that they were delivered,

Come the time to go to court, the judge will be very sympathetic to some one who's down on their

luck but still willing to pay as long as it take to pay it all up, and believe me, those creditors

will have to be happy ,in the end, with what the lady can afford to pay.....been there, that's

how i know......

Thanks for answering my question directly.

In reference to the other replies, I am aware that it is not good for people to default on debt. I am also aware that I can help. But, nonetheless, some people have to post the obvious. As if the only people that acquire debt are Thai's. People default on loans in every country.

I wanted to know if there is a way to negotiate these loans to a lesser amount. I didn't ask for the morality of Thai culture. And even if I decide to pay them for her, I want to negotiate the debts down, duhhhhh!!! Why wouldn't I try.

You have a long way to go to lean about thais , thais are very stupid when it comes to borrowing and yes all over the world it is the same but not like thais and I am not here to put thais down ok .

I have borrowed a lot of money in my life but I know you have to pay it back , like I say to my thai if you borrow you have to pay it back so sorry your thai has to pay it back .

[Asiantravel]

One way is to default and go to court. If she has no assets they can't take it away. By the way the law here doesn't allow the government to repossess land or property against debt. This option might be the better one than you paying her debt. There are thousands of Thais who are defaulting on their loans. You can either fully go bankrupt or you declare in court that you are willing to pay something and then usually the court will order her to pay 500 baht per month over a certain amount of years.

You are making it sound as if there are virtually no repercussions by going bankrupt? If she is a young person surely there will be many times in the future when she will probably need to apply for a loan again? As a bankrupt isn't it going to be a mark against her name for a long time?

Edited February 26, 2015 by Asiantravel

[Robert24]

Just outlining this as an option. Up to her to decide. The repercussions are limited in my opinion. There are literally thousands of students who default on their student loans they have received from the government. You can still own property/land even if you default. But agree you probably will find it difficult to get a car loan or mortgage later. But Thais tend to very creative about such things, ie buy in husbands name, mother's name etc.

[remaxtony]

And in these kinds of scenarios, it isn't like they were worried about their credit going forward anyway.

[crickets]

Pay it or get black listed.

[gk10002000]

FYI, Those companies in the USA that claim to negotiate debt, do exactly that, they negotiate debt. That does NOT mean that they get you a good debt settlement. Just negotiating or mediating means nothing. Those companies do not control things. Years ago there were thousands of credit card debt negotiators and there was a reasonable crackdown on their phony claims. Beware of anything they promise. If by some chance you can get one that seems reliable, the only way I would touch them would be if they agree to an incentive fee agreement. The more money they save you, the higher fee they get. For example, if you have $10,000 debt, the amount they advertise you have to have before even calling them, see if you can get them to agree to them getting say 20% of every dollar they get the debtee to agree to not have you pay. So if they can knock your debt down from 10,000 to 8,000, they get .2 * 2000 = 400. So you saved 10000 -8000 + 400 = 1600. Not great but not good. If they knock it down to 5,000, then they get .2*5000 = 1,000, and you pay out 5,000 + 1000 = 6000 and you saved 4,000. Just examples. Nothing is for free, but I definitely wouldn't pay them upfront because they do not guarantee anything.

[lopburi3]

In the USA the normal short term (payday) interest can be 3 and even 4 digit (on annual basis) with about 600% being routine. There there are more sources than for McDonalds burgers. With that kind of legal theft it leaves a lot of room for negotiation. Loan sharks are minnows. Who don't know crap about borrowing? My IOU is on us Americans being near the top of that pile.

[NiwPix]

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I can tell you of one to help her......and that is YOU.

Forget about lawyers or persons specializing in Thailand.

She defaulted on her debts .....she has to pay.....and I mean you have to pay.

Oh the irony.....a greek giving advice on debt negotations

Let's try to be a bit more clearer than other contributors, the answer in NO, no independent
negotiators are available in this country, not that i know of and i know a lot.
If you GF doesn't have any asset to her name that can be confiscated than all you/she
need to do is to write formal letters to all the creditors, admitting liability and offering a monthly
payment plan according to her abilities to service the loan, post those letter registered post
and make sure that they were delivered,

Come the time to go to court, the judge will be very sympathetic to some one who's down on their
luck but still willing to pay as long as it take to pay it all up, and believe me, those creditors
will have to be happy ,in the end, with what the lady can afford to pay.....been there, that's
how i know......

Thanks for answering my question directly.

In reference to the other replies, I am aware that it is not good for people to default on debt. I am also aware that I can help. But, nonetheless, some people have to post the obvious. As if the only people that acquire debt are Thai's. People default on loans in every country.

I wanted to know if there is a way to negotiate these loans to a lesser amount. I didn't ask for the morality of Thai culture. And even if I decide to pay them for her, I want to negotiate the debts down, duhhhhh!!! Why wouldn't I try.

You have a long way to go to lean about thais , thais are very stupid when it comes to borrowing and yes all over the world it is the same but not like thais and I am not here to put thais down ok .
I have borrowed a lot of money in my life but I know you have to pay it back , like I say to my thai if you borrow you have to pay it back so sorry your thai has to pay it back .

You say you your not here to put down thais, but in the SAME sentence say they're stupid.

Now, since thais are stupid for not paying back loans, please tell me your country of origin and I will do a quick google search and let you know how much debt your country has and how many people do not repay their loans.

To the op: sorry I cant help on your question. However, post #5 sounds very reasonable and logical. Good luck.