When a Loan Shark Destroys a Family

[offset]

Loan Sharks are not stupid & I find it difficult to digest, that they would loan this considerable sum on the basis of 'Farang are rich'.

I think you've been decieved by her because she has a Gambling Addiction - but this doesn't make her a bad person.

The money she owes has probably been borrowed over a long period of time, in different amounts. But now, they want their money back.

However, I would worry alot about these guys turning up.

Either repay them, or disappear, by your hand...or theirs.

I know a loan shark lent out 1.5 million on a land paper and did not bother to find out that the land was in the mother's son's name and he is only 6 years old so what collateral have they got, and I do know that this is true

he doesn't give a hoot on who's name it is, you wil sell the land to repay or have a problem

The land cannot be sold without an order from the Family Court and two things I know is that the Court will not allow the land to be sold to pay off his mother's debt and the loan people would not want to go to the court either to explain why the land has to be sold

Edited July 18, 2015 by offset

[Farma]

offset they don't care who owns the land. They just want their money back.

An elderly neighbours daughter got herself into debt with loan sharks. When the daughter couldn't repay, the loan sharks went after her family members. That included her mother in her late 70's/early 80's. That little old lady was beaten as a warning and told to repay the daughters loan or she would get more beatings. I saw the black eye and other bruises.

The local police turn a blind eye as the loan sharks make a monthly payment to them.

[jumbo]

I think the divorce will not result on you being 50% responsible for it, because that would need a loan agreement to prove it and my guess,

I have no experience in that, is that loan sharks don't have signed agreements

AND if they do the agreement is only signed by your wife and that means it is not worth the paper written on as she is married and husband needs to sign as well

to make a legally binding contract, especially when loans are concerned

But enough advise is given on paying these guys, if not you will have a lot over the shoulder looking to for the rest of your and her life

[sanuk711]

Could you possibly get me the phone number of the shark----- I also would like to lend 200,000 Baht, while having no property & showing other no possibility of ever being able to pay it back, & him knowing I was going to punt it at the casino........................

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On 2nd thoughts let me know when you have written chapter 2-3-4 of your novel, its got quite a pacey start, so I'll look forward to reading the rest of it. Its not quite as good as BKK 8 but I can see it has some potential.

[ehs818]

I have heard stories like this for the past 12 years I've lived here. My conclusion is this: RUN AWAY. Either pay off her debt or not. But if you are on the loan sharks list, they will find you. They will have friends working at Immigration. They will find you. So never return here, or pay off the debt. Make sure it is paid IN FULL. And then divorce your 'perfect' wife. She's imperfect, just as all Thais are. Better to cut and run now while you still can. I favor not returning at all for you. Good luck, and stop trusting ANY Thais.

[crazykopite]

WOW this could be a number one selling book or are you winding us all up . Please tell me it is a figment of your imagination if not it could be you who ends up under some new apartment block !

[FritsSikkink]

I think the divorce will not result on you being 50% responsible for it, because that would need a loan agreement to prove it and my guess,

I have no experience in that, is that loan sharks don't have signed agreements

AND if they do the agreement is only signed by your wife and that means it is not worth the paper written on as she is married and husband needs to sign as well

to make a legally binding contract, especially when loans are concerned

But enough advise is given on paying these guys, if not you will have a lot over the shoulder looking to for the rest of your and her life

dream on

[dotpoom]

I am indeed sorry for anybody who has had this happen to them and was feeling that way about your situation until I came to this...........

"The stupid idea of karma and luck is so common in BS versions of Thai Buddhist philosophy. I am working against a lifetime of disinformation being touted by millions of morons."

I am not a man who practices any religion myself but how dare anybody talk this way about another person's religious beliefs.

I tell you one thing though....I am a fervent believer in Karma (nothing to do with religion)....and you have certainly strengthened that for me,

Edited July 18, 2015 by dotpoom

[SOTIRIOS]

...you want to believe it.....

...sorry but....check your 'facts'......

...you are being 'cashed in on'......

...it always comes sooner or later....and you are the last to suspect or know.....

...good luck.....

...but even better...good sense....

...this is 'the beginning of the end'....if not 'the end'.....

...make sure you do not get 'caught in the crossfire'...literally.....

....does she have insurance out on you....???

...sorry but....that is how I read the situation....

.....business on the upswing....and borrowing 200,000 from a loanshark to go to a casino.....just listen to yourself.....

...utter nonsense....

..you are absolutely being set up.....

[Mudcrab]

I have heard stories like this for the past 12 years I've lived here. My conclusion is this: RUN AWAY. Either pay off her debt or not. But if you are on the loan sharks list, they will find you. They will have friends working at Immigration. They will find you. So never return here, or pay off the debt. Make sure it is paid IN FULL. And then divorce your 'perfect' wife. She's imperfect, just as all Thais are. Better to cut and run now while you still can. I favor not returning at all for you. Good luck, and stop trusting ANY Thais.

Pray tell us a few of these stories.

Or are they all from TVF and other friend of a friend sources?

Edited July 18, 2015 by Mudcrab

[prakhonchai nick]

The money was borrowed and will have to be repaid. However in law the maximum interest rate is 15% per annum. No doubt the shark will be charging anything from 5% a month to 5% a day!

When you have decided to repay, calculate the interest at 15%pa, offer him the capital plus pro rata interest, or offer him a meeting in court.

I rather think he will accept the 15% per annum interest based on the number of days/weeks the loan was for.

200,000baht at 15%pa works out at 30,000baht interest per year. (2,500baht/month or approx 82baht oper day).

[Don Mega]

Seeing as though OP has not returned maybe the "war" did not go all that well for him.

[Robert24]

A few things from my perspective:

1) loan sharks provide small loans, anywhere 5000 - 20,000 baht. Interest rate is somewhere 2-5% per day. They don't give larger amounts like what you mentioned.

2) for larger amounts you need to give some collateral, usually land or a car/truck. Interest rate for that is approx 3-5% per month. Normally a proper contract is established, so if you don't pay the interest or don't pay back the debt, you will loose the collateral. A repossession of the collateral will take place by order of court.

So personally I think this story is not true. Also the problem is your wife who comes up with some crazy story to get your money and certainly not somebody else.

[Nuddy]

Hmmmm, I had a similar problem, but the amount was 500,000THB.

I paid and during the ten years I am with my Thai wife it has not re occurred.

I don't think I know the full story after 10 years yet but I would not pass up those ten years.

The casino or the loan sharks people are both unforgiving and If they see no way of getting their dosh are likely to start giving accidents to family members.

I see your options as running from Thailand forever or paying the dosh. Thats it. Forget the interrogation of your Thai lady.

Regards

[montereyjp]

The loan sharks would not exit if people lived within their income.. And they are not dumb so why would they loan anyone 200K baht without any collateral? For instance a blue book on a car worth at least 200K.. Someone is BS'sing someone or everyone with the OP's story...

[Colabamumbai]

This is not the first time your wife has borrowed money from loan givers, I won't call them sharks they are part of Thai society.

Maybe her present total is 200,000 Baht, but she did not get this loan on a one off.

This may be a total of what she owes them, or she is playing you off, go and talk to these friendly people, if they were friendly enough to give her this money, I am sure that they will explain in to you, if it took place.

The normal is 10,000 Baht for a month, payable at 400 Baht per day for the month = 12,000 Baht.

Ever see the two guys on motorcycles with the same jackets and large pouches, they pick up the money daily from the debtors. One maybe armed as a show of force, and for their own protection.

[georgemandm]

First of all, your wife is stupid and should never be trusted with money.

Secondly, if an old person is dying, let him die. This old man has lived his life, just let him go. If I was on life support, I'd ask to pull the plug, there's no point living that way.

Thirdly, Why are you blaming the loan sharks? The loan sharks aren't doing anything wrong. They're there for anyone who desperately needs money.

This happened to my mother. My mother was a gambling addict, she was 2 million baht in debt. Some days I come home from school and leave 20-40 baht on my desk, the next day, they're gone; of course, my mom stole them. I told my dad if he didn't divorce and leave her to rot in the streets I'll leave both of them and live on my own. Since I was the one giving my dad a visa, and everything he owned was under my name, I had nothing to lose and he had everything to lose. I don't care if you're my mother, father, brother, sister, whatever, idiots will be idiots.

Loan sharks didn't do anything to your family, your wife did.

So true

[offset]

I think the divorce will not result on you being 50% responsible for it, because that would need a loan agreement to prove it and my guess,

I have no experience in that, is that loan sharks don't have signed agreements

AND if they do the agreement is only signed by your wife and that means it is not worth the paper written on as she is married and husband needs to sign as well

to make a legally binding contract, especially when loans are concerned

But enough advise is given on paying these guys, if not you will have a lot over the shoulder looking to for the rest of your and her life

There are two types of loan shark the one that does it with a security of land and they charge anything between 2.5% and 5% per month these will have a contract and the title of the land with the Land Office if the loan is not paid back on a certain date the land office will transfer the title to the shark without the owner being present

The others charge any thing over 10% per month and they are the bad ones they have no contracts so cannot be trace because they always use middle men to do their business for them

I often wonder whether the military should be approached in these circumstances and by-pass the local police

[nithisa78]

Sir, Very sorry to hear about your Mum. No bashing here and who could know what to say.

It never gets lonely between the rock and the hard place. If you need to pass the hat, I'm happy to help seed that hat.

Other than that, there is only faith. The rest is rhetoric. If we subscribe to the duality, sooner or later the pendulum will swing.

Good luck Sir.

[prakhonchai nick]

A few things from my perspective:

1) loan sharks provide small loans, anywhere 5000 - 20,000 baht. Interest rate is somewhere 2-5% per day. They don't give larger amounts like what you mentioned.

2) for larger amounts you need to give some collateral, usually land or a car/truck. Interest rate for that is approx 3-5% per month. Normally a proper contract is established, so if you don't pay the interest or don't pay back the debt, you will loose the collateral. A repossession of the collateral will take place by order of court.

So personally I think this story is not true. Also the problem is your wife who comes up with some crazy story to get your money and certainly not somebody else.

If a proper contract is established, showing 3/5% a month, then it is an illegal contract.

A court will order the loan to be repaid using a maximm 15% pa interest rate, and only authorise the shark to have the collaterl if the loan and reduced interest cannot be paid. I have heard that in some cases, because charging a high interest rate at the outset, the shark gets no interest,. and only gets back the loan (or collateral) as per the court instruction.

[crickets]

I feel for u. They have brain snaps and are prayed upon by scum. U could think it over 1 million times and still noy undrstand how stupid they could be. My best advice is pay it for her. And then say good bye. Tough love in thailand.

[kovaltech]

boring story...

[nithisa78]

Hmmmm, I had a similar problem, but the amount was 500,000THB.

I paid and during the ten years I am with my Thai wife it has not re occurred.

I don't think I know the full story after 10 years yet but I would not pass up those ten years.

The casino or the loan sharks people are both unforgiving and If they see no way of getting their dosh are likely to start giving accidents to family members.

I see your options as running from Thailand forever or paying the dosh. Thats it. Forget the interrogation of your Thai lady.

Regards

This is about as close to what I'd have liked to say as anybody could get. I liked for the most part how the OP expressed themselves and same for you.

Especially the , forget the interrogation. Without pesonally having lived this kind of life, even the most good among us, we can only wrap our minds around it so much, not all.

My love, my love, the Kingdom for my love.

[georgemandm]

One thing you are all forget thai woman are very good at playing the long game with western man that is why she has come up with this BS story after time with the op , all thai woman ask western men for money one day .

1 I can't believe that a man can live in thailand for 13 years and can't see through a thai woman.

If I were you I would piss her off A S A P but it is your life and your money good luck.

[Kannikapor88]

Troll but okay written story, lots of details : Cancer, farang-daughter, 200,000B ??? etc.

[georgemandm]

...you want to believe it.....

...sorry but....check your 'facts'......

...you are being 'cashed in on'......

...it always comes sooner or later....and you are the last to suspect or know.....

...good luck.....

...but even better...good sense....

...this is 'the beginning of the end'....if not 'the end'.....

...make sure you do not get 'caught in the crossfire'...literally.....

....does she have insurance out on you....???

...sorry but....that is how I read the situation....

.....business on the upswing....and borrowing 200,000 from a loanshark to go to a casino.....just listen to yourself.....

...utter nonsense....

..you are absolutely being set up.....

Will said I agree with you 100%

[Mavrix]

Many replies...but only need to read the first one....do one !

[gemguy]

Hmmmmmm...very suspicious story...if you ask me and all my experiences in Thailand.

Did it ever cross your mind that the supposedly loving, charming wife is scamming you.

It would be very easy for her to say she borrowed money from a loan shark ( which loan shark?? ) and now she is putting the pressure on you to pay back the loan shark and all part of a somewhat elaborately orchestrate scam to get money out of you....including some one or some other Thai people acting like the supposed loan sharks that are putting the pressure on to her...but in effect and eventually ...YOU.

I would walk and get far away from her ....or .....hire yourself a reliable private investigator to learn the truth...the whole truth and nothing but the truth so help you God.

I bet you will make some fascinating ...but very disturbing..... discoveries ......going on all around your trusting and benevolent ways.

Cheers

[louse1953]

yes, some things seem strange in this story - you don't even own a home, what is the loanshark's collateral?

then you say you have been very choosy in women and finally your choice fell on a person that takes out a loan with a loanshark to go gamble in an illegal casino !

you say she has been very stupid and gullible... I'm not sure - rather sounds like a plan of how to extract 200.000 from a farang, quick! are the loan and the sharks real?

I really liked your explanation of how your study of statistics proves that all numbers have an equal chance to win the lottery, when a brain of average intelligence in perfectly sufficient for reaching the same conclusion...

Your right,this story doesn't pass the sniff test.

[Tassie Norm]

Sounds like your wife has a serious gambling problem.

I don't know if you can ever help to rid her of that.

Luckily you have no kids, so, you can say goodbye, get a divorce and find another one.

I have a feeling there's no father in desperate need either.

Walk away old son - learn from the experience - fiddlehead is correct - move on - the emotional pain will recede.......in time. I must add that your years of experience in Thailand do not seem to have helped you. Forget the 'beauty', check the maturity, background and so on. Many genuine ladies out there who are content with a caring farang (money of course but that's the same everywhere). Good luck.