Anyone here has dealth with one of those agencies that take debt from banks and collect them?

My gf received a call today from a company working with the govt's bank telling her that she still owed payments on student loans and the interest has now made the ammount more than 100% the initial debt. We have 4 months to pay or they will take us to court.

First i was sure it was a scam or a debt collecting agency like in the west where they buy off debt and threaten you. According to her she has to pay AT the bank and TO the bank. Not to a third party account. Yet they are using agents from an other company to collect.

They "lost" her address for 10years. We have a house loan with them and nothing ever poped up during that time(going on 4 years for the house loan)

They said we would soon receive a letter.

She could pay the initial ammount off but the interest are insane and she was never contacted before. She even had a credit card stolen years ago and paid back all the money the thief used, so i don't really want to pay off an other debt to those damn banks. How real are those letters? Any way to get back to the initial ammount (30k)? Will they really "come take our stuff" for 70k baht?

She could even have paid it off years ago and not remember, she had way too much money before. So i have no idea how legit this is.

So she just forgot that she owns money on a student loan and is now complaning.

Good luck to you, you never know howmuch other bills are going to fal on your doormat.

So she just forgot that she owns money on a student loan and is now complaning.

Good luck to you, you never know howmuch other bills are going to fal on your doormat.

please keep the annoyed bargirl sponsor talk to the general forum

It could be very legit. Thailand has debit collection companies just like every other country. Even AEON-Thailand runs a debt collection service. Did you get the name of the collection agency and person calling? If so, have you checked to see if such a company exists and contacted that company directly to see if they know the person who is calling regarding the debt?

ok thats interesting. I'll know more when we get the letter. It was a different name but like i said the payement was to be done TO the bank. It's just weird to me that the collection agency still deals with the original company(the bank). In USA or Canada these debts are sold off so if you owed 5k to mastercard then you'd owe 0 to them and 5k to the collecting agency.. I really feel its bullshit as they should of seen it when we got our house loan 4 years ago or even our first car loan 6 years ago or even her own loans 8-9 years ago.

Also most countries have a certain time frame where debts are erased to avoid these kind of things. Nothing of the sort in Thailand?

It has been in the news a while back that they were going after people who did not pay their student loans. So having lost her address and now giving it a bit more effort finding it again sounds legit. Not paying on a debt for 10 year costs money so it sounds all legit. Maybe you can negotiate maybe not. But if your gf does not dispute the loan its all real legit.

An interest rate of a little over 7% will double an unserviced debt in ten years.

ok, its just weird that they never tried to make her pay when she was earning 100k+ a month and now they decide to more than double the loan and go after. All her bank accounts always have updated address and she'S had the same phone number since then.

Edited November 11, 201510 yr by bearpolar

ok, its just weird that they never tried to make her pay when she was earning 100k+ a month and now they decide to more than double the loan and go after. All her bank accounts always have updated address and she'S had the same phone number since then.

I would think some one has put press on the bank to collect old student loans and your wife is an easy one to communicate with because she has same phone number and accounts.they didnot have to work hard to find her. Until they were pressed to do something they probably didnot care.

Since a lot of student loans done at banks are really backed up the govt's Student Loan Program, here's a 26 Oct 15 Nation news article on the govt stepping up its effort to recover unpaid student loan debt.

http://www.nationmultimedia.com/national/SLF-goes-all-out-to-recover-overdue-debt-30271581.html

Edited November 11, 201510 yr by Pib

I am under the impression that in Thailand once the sugar is in the mouth of the elephant........

do they still do debters prison here