Credit Card Woes

[reenatinnakor]

4 hours ago, jippytum said:

I hope they do catch up with him .He is a thief and his actions make things more difficult for honest people

 

Why is he a thief? He took the credit and loans assuming he could have paid back and then at a later date loses his job and couldn't?

[NoshowJones]

I hope they can't sell any debt to a Thai debt collector, or it's back to me keeping a pickaxe handle inside my front door.

[cruisemonkey]

4 hours ago, wump said:

 

You think he would start this thread because he is scared of a 200 pound debt collection? Geez...

 

I think he's afraid of being paid a visit by a 200 pound debt collector. 

[midas]

5 hours ago, jippytum said:

I hope they do catch up with him .He is a thief and his actions make things more difficult for honest people

so by your standards is the government of a country that also defaults on its loans also to be considered a thief or thieves?

[Sooo Upto Me]

1 hour ago, theoldgit said:

No you're wrong, it's six years, unless it's a mortgage and then it's twelve years.

 

nationaldebtline/time-limits-for-recovering-debts/statute-barred-debt.aspx

 

8 years

[al007]

In addition to my post no 20

 

The friend must do something to freeze the debt, otherwise penal rates of interest are going to be charged automatically, and interest on interest each month, soon the amount owed is doubled

 

Doing nothing and waiting will just make the problem so much greater

 

Advise the credit card company, this is creating major stress problems and giving sleepless nights, and leading to depression, paint the picture as it is very black, you are likely to get sympathy, (unlike TV Joke!! ) and if you feel you are being treated badly you can appeal to the financial ombudsman

 

In the UK you still have rights even though you are in default

 

God helps those who help themselves

[Chongalulu]

So much subjective nonsense here. The credit card company will have sold the debt on as part of thousands of bad debts,the collector goes after the low hanging fruit. Your friend living in Thailand with no assets will after a few calls be written off as not worth pursuing; you can't get money from someone who has none. Fanciful nonsense about appointing Thai debt collectors and contacting immigration. Just do nothing.

[bkk6060]

1 hour ago, nchuckle said:

So much subjective nonsense here. The credit card company will have sold the debt on as part of thousands of bad debts,the collector goes after the low hanging fruit. Your friend living in Thailand with no assets will after a few calls be written off as not worth pursuing; you can't get money from someone who has none. Fanciful nonsense about appointing Thai debt collectors and contacting immigration. Just do nothing.

Finally someone with some sense and the truth.  They don't care about that amount so many people have much much more. There is no debtors prison and they are not going to pursue some Visa confrontation.   They end up writing it off as a loss.  Peanuts to them there are 1000's of bigger fish to fry. 

PS:  CC abuse and use is a huge problem around the world.  Some people use it as a way to live and I think steal.  I know people in the US that have 60 to $70,000 in debt on many cards.  So, they don't pay and nothing happens but their credit is dinged. They declare bankruptcy.  Visa, Mastercard, Amex.  If you charge up big money on lets say Visa, they will cancel your cards.  But, MC and AMEX are still active.  Do the same with MC... on and on, you get my point?  My ex-wife's sister has lived like a king for 10 years with this scenario. Traveling around the world in nice hotels.  Some of this is why CC rates are 17 to 19%.

Edited May 15, 2017 by bkk6060

[ThaiBob]

On 05/15/2017 at 0:01 AM, Pdavies99 said:

In the past, (having worked for Visa) it would not be cost effective for VISA to chase you for small amounts, however if they find out your Thailand address, they can send a Debt collector to see you, but unless they have taken you to court in the UK and referred it to a Thai court then a Thai Debt collector cannot enforce the debt, so this would be unlikely.  You should ask VISA UK to stop the interest charges and offer a monthly payment, no matter how small within reason.

It is known as an IVA, these can be formal through a solicitor etc or direct between you and the lender. Good Luck!

The debt is owned by the issuing bank not VISA or Mastercard (if branded as such)

[tazly]

On 2017-05-14 at 9:22 PM, NanLaew said:

And of course we are all agreed that the banks that people owe money to are all paragons of honesty and virtue.

 

Stroll on.

Are you saying victims of a crime are to blame....good grief, what is the world coming to????

[hawker9000]

On 5/15/2017 at 9:22 AM, NanLaew said:

And of course we are all agreed that the banks that people owe money to are all paragons of honesty and virtue.

 

Stroll on.

They lend money and the borrower agrees to the terms.  Stop trying to hijack the discussion.  Start another topic if you want to whine about bank lending practices.

[brianj1964]

On 5/15/2017 at 7:28 AM, reenatinnakor said:

 

Why is he a thief? He took the credit and loans assuming he could have paid back and then at a later date loses his job and couldn't?

owning a bar that failed isnt classed as "losing" a job

[thaibeachlovers]

On 5/14/2017 at 7:37 PM, Giggsy said:

He owes between 7000 to 9000. No assets in his name. House and car in girlfriends name. 

If he doesn't have enough money to pay a small debt like that how can he pay the girlfriend "allowance", buy food, get a visa/ extension?

Time to go home.

 

I wrote the above thinking it was baht, but perhaps pounds- different much.

Regardless, if he hasn't got enough money in either currency, time to go home.

Edited May 17, 2017 by thaibeachlovers

[topt]

On ‎15‎/‎05‎/‎2017 at 2:33 PM, Sooo Upto Me said:

8 years

Your link seems to say 6 years?

 

"Unsecured credit debts are things like credit cards, store cards, personal loans and catalogues. When using the Limitation Act, these debts are often called ‘simple contract debts’.

The Limitation Act says that the limitation period for simple contract debts is six years."

[tazly]

6 hours ago, brianj1964 said:

owning a bar that failed isnt classed as "losing" a job

absolutely true....would love to see the business plan this guy had....back of a cigarette pack if that....