Credit Card Madness

[kinmaew]

Why need a repayment plan when she has you?

[JMWPACIFIC]

images.jpg

You are exactly right---run Forest run!!

[Ks45672]

I love the credit card laws here in Thailand ,a young lady like this with no money can have 6 credit cards ,but when i asked the bank for one ,(i have quite a lot in this particular bank) so that i could pay for my airfares etc online which i cannot do with a debit card , not a hope , amazing Thailand .

Well that is a nice lie, because the major banks in Thailand will issue a credit card to foreigner on the condition that you put the limit amount in a fixed deposit account.

I had several million thb in the bank and the girl at the desk told me I can't have a credit card because no work permut

[NoshowJones]

"Walk away from the rest. No money....sorry!"

In other words, you are going to advise her to steal the money. Sounds like you two are perfect for each other.

This is why we can't have nice things.

That's true, but there are no bigger thieves than banks (although in their case it's legal)

For those who think it is wrong to steal from banks, ask yourself this, and be honest.

If you were about to use an ATM, and before you had a chance to put your card in, the money

started spouting out, what would you do, just walk away?

The usual rubbish about banks.... If they fail to extend credit to the non-creditworthy, they're guilty of a vicious, classist greed and a failure to address the needs of the poor & downtrodden. If they DO make the bad loans, THEN they're guilty of victimization, exploitation and manipulation. Classic empty-headed envy aimed at "the man". Everyone but vote-hungry, populist politicians and lawyers with nothing worthwhile to do ignore this drivel.

Banks had nothing, absolutely nothing, to do with this woman's irresponsibility and lack of self-control.

No they did not, but they are still the biggest crooks on this earth, along with insurance companies.

[Pib]

Banksters is a well earned nick name.

[sead]

The family needs to know the situation. If family helps to solve everything she should give monthly info to family. Thats thats the first step to admitting she has no control. If she isn't admitting and understanding how everything works, then she is denying she has done anything wrong. And an trouble again.

[SidJames]

A very good point is made here.

What were these debts run up on?

Are there boxes of shoes, gold, iphones & HD TVs around the place?

Where are the trappings of this debt?

Shopoholics etc are often a sign a deep routed emotional issues.

Alcohol, drugs & gambling are just more dangerous versions.

This behaviour should be confronted & she needs to admit if there is a problem & find out what caused/causes it.

Otherwise anyone who just helps out financially is only compounding the problem & is enabling them in their issues.

Good luck to both of you in finding a way through this.

But what may be of even more concern is how these cards were used. Is she really living a life indicating this much cash, or is there perhaps something else these funds are being used for? Gambling is a real issue for many here - and can be as addictive as drink or drugs.

[theoldgit]

A dumb question: in Thailand, who provides these credit ratings?

Like most countries Thailand does have credit reference agencies, I get a print out every year of the information my credit card provider supplies to the agency, detailing my monthly balances on my card and confirmation that the account is in order.

[ozyjon]

Quickly Forest, put your shoes on and,,,,,,

[seedy]

one Nonsense and one Off Topic post removed

[ChouDoufu]

one Nonsense and one Off Topic post removed

howdy. OP here. you deleted my post?

contained a bit of background on the credit

card debts.

was that nonsense or off topic?

if so, sorry....

[Ghostnigel]

She sounds like a right scammer tbh...

While it maybe easy to overspend on one credit card, to max out 6 + another one that doesn't even belong to her is a huge red flag imo

I would advise you to walk away from her as you probably have only heard 10% of this story so far..... But I know you won't because , she's different....

...and he says he will marry her in the future....doh!

[jacko45k]

I do hope all her CCs have been cut in half.

I am a financial adviser and after much consideration and calculations my recommendation is to marry someone else.

[PeCeDe]

OP, you're not in the Marines, I assume? The rule where no man or woman is left behind, does not apply to you... Very sad but your post gives me goosebumps, please leave now before other things begin to show up.

[PeCeDe]

I do hope all her CCs have been cut in half.

I am a financial adviser and after much consideration and calculations my recommendation is to marry someone else.

Where the heck were you when I needed you? However your calculations appear to be correct, let's hope the OP listens, although he probably won't.

[Dibbler]

And you are thinking about marrying this person!!

[Wrong Turn]

Chou Doufo

I’ve got a nice little thai lady, possibly getting hitched in the near future. Turns out she has a little debt problem she hasn’t told anyone about. Took a while to get the whole story from her…..

She has seven credit cards maxed out and one personal loan. She also has a friend’s credit card maxed out. Most are charging 20%, one charging 28%. She had no idea how much she actually owes. She has no understanding of interest rates, late fees, collection fees, etc.

Total debt comes to 150% of her annual salary. Monthly payments equal 150% of monthly salary….NOT including two cards demanding full payment immediately. Monthly interest charges, plus late fees and collection fees, are about equal to what I’ve calculated she can actually pay. Up until now, she’s been paying a few cards, waiting a few days until posting, and then taking cash advances to pay other cards. Now at limits, so that’s no longer possible.

I read this thread.

IMO, do not get legally married to this lady.

Edited February 5, 2016 by Wrong Turn

[Pib]

And don't cosign for any loans.

[boike]

Wonder if he would do this for his siblings or parents or a girl back home

Sent from my Vi10Pro using Tapatalk

[angiolo]

from what i read, individuals cannot declare bankruptcy if debts total less than

one million baht. ...... maybe i should get her to charge more stuff?

she is NOT asking me for money. i kept tripping over the piles of monthly

credit card statements.

i don't see her as a scammer. just someone from a culture with no education

provided in personal finance, and a live-for-today attitude. or am i missing

something? are thais famous for their intricate planning and attention to detail?

not the same mistake six or ten or whatever times.....a continuous attempt to

juggle multiple cards, moving cash back and forth to try to meet the deadlines.

same thing happens to many folks in the west as well.

i'm not going to pay off her loans. her responsibility....if she defaults, she has

to live with the consequences. for her that would be a bad credit rating and no

credit cards. but the banks will also have to live with their irresponsible lending.

did convince her to call the legal office number on the collection letter i tripped

over. they've agreed to a 50% settlement to close the account.

one down.

i might could offer to lend her the money to pay one-time settlements for her

delinquent accounts. in the meantime, i have taken away her credit cards....

[hawker9000]

"Walk away from the rest. No money....sorry!"

In other words, you are going to advise her to steal the money. Sounds like you two are perfect for each other.

This is why we can't have nice things.

That's true, but there are no bigger thieves than banks (although in their case it's legal)

For those who think it is wrong to steal from banks, ask yourself this, and be honest.

If you were about to use an ATM, and before you had a chance to put your card in, the money

started spouting out, what would you do, just walk away?

The usual rubbish about banks.... If they fail to extend credit to the non-creditworthy, they're guilty of a vicious, classist greed and a failure to address the needs of the poor & downtrodden. If they DO make the bad loans, THEN they're guilty of victimization, exploitation and manipulation. Classic empty-headed envy aimed at "the man". Everyone but vote-hungry, populist politicians and lawyers with nothing worthwhile to do ignore this drivel.

Banks had nothing, absolutely nothing, to do with this woman's irresponsibility and lack of self-control.

No they did not, but they are still the biggest crooks on this earth, along with insurance companies.

Blah blah blah blah

[NoshowJones]

Hawker9000. The mentality of some posters, or should I say, one poster, writing like a little kid.

[ChouDoufu]

Wonder if he would do this for his siblings or parents or a girl back home

parents overextended back when..........paid off mortgage, second mortgage,

and a dozen credit cards.

refinanced with one loan at going interest rate, and house signed over to me.

cut up all cards but one, sold a spare piece of property, got rid of the bmw and one

of the harleys.

they got their house back after about 6 years, and are now debt free.

[Tomtomtom69]

I love the credit card laws here in Thailand ,a young lady like this with no money can have 6 credit cards ,but when i asked the bank for one ,(i have quite a lot in this particular bank) so that i could pay for my airfares etc online which i cannot do with a debit card , not a hope , amazing Thailand .

Well they want you to have a work permit.

[hawker9000]

Hawker9000. The mentality of some posters, or should I say, one poster, writing like a little kid.

'Just trying to come dowm to the level of some posters, or should I say, one poster, writing like a moron.

[NoshowJones]

Hawker9000. The mentality of some posters, or should I say, one poster, writing like a little kid.

'Just trying to come dowm to the level of some posters, or should I say, one poster, writing like a moron.

Another one from the keyboard warriors brigade, always hiding behind the keyboard.

[hawker9000]

Hawker9000. The mentality of some posters, or should I say, one poster, writing like a little kid.

'Just trying to come dowm to the level of some posters, or should I say, one poster, writing like a moron.

Another one from the keyboard warriors brigade, always hiding behind the keyboard.

Lol. Whereas you're a bigger braver posterboy using a ... oh wait, a KEYBOARD TOO!! Pathetic.

[NoshowJones]

Hawker9000. The mentality of some posters, or should I say, one poster, writing like a little kid.

'Just trying to come dowm to the level of some posters, or should I say, one poster, writing like a moron.

Another one from the keyboard warriors brigade, always hiding behind the keyboard.

Lol. Whereas you're a bigger braver posterboy using a ... oh wait, a KEYBOARD TOO!! Pathetic.

[HaleySabai]

From what I've seen here,credit cards are generally doled-out in 'pre-payed' form. Your lady,at some point, must of had a seriously good credit rating for the banks to endow her with ...er, SEVEN credit cards!.....and a loan!! Be that as it may.

Now its pay-back time and at a balance of 150% of her current income... she has reached that mathematical impasse, never being able to pay it off. She in fact, has entered the dark realm of "permanent-debt-slavery".

In the West,people in this position can (1.go to the bank and negotiate to CONSOLIDATE the debt,where monthly payments can be made on the lump sum for the rest of their life.

(2. declare bankruptcy. Apparently not an option here.( and In Thailand) (3. join the Sangha (4.rope in a third party payment plan (that's you) (5. jump off a bridge (don't think she hasn't considered this already).

Debt is a brutal form of modern day tyranny that few escape the clutches of. The goal of creditors is to enslave you to the debt-cycle by throwing money at your feet until they get you right where they want you - being able to pay only the interest...FOREVER!

Credit card debt is unsecured-debt. Its NOT a crime to walk-away from it(at least in the West) regardless what the "collection agencies" threaten you with.

Its a crime of time regarding your use of future credit instruments.

Debt is merely another money-grubbing racket in a consortium of world-wide rackets that run the complex systems we depend on for contemporary life.

The old saying "money always tells the truth" offers you insight into your ladies unseen character traits. Take the time and browse her credit card statements,determine spending-habits and patterns between 'needs and wants'. This will tell you a great deal about your future wife.

A very basic lesson in this life is; Don't crave what you can't afford, Choose debt-free over slavery.

Good Luck

[hawker9000]

You don't walk away from credit cards in Thailand like in the west, I guarantee you that. This is why she is keen on paying off her loan unlike the uninformed op. This is not the west.

Yeah, that thought occurred to me, too. What actually happens when a Thai tries to "walk away" from their credit card debt? I would also ask what foreigner in his right mind marries (i.e., "adopts") such a person, but I already know the answer, and there's no shortage of them.