Guest Posted May 9, 2004 Report Share Posted May 9, 2004 funnily enough i have met a few guys here over the years that have claimed to be fraud investigators working on commision for english banking institutions/debt collectors. all these guys had been living here for a while and knew the ground. i don't know what they were planning to do with the fraudsters when they caught them but i assume it was mostly collecting information. Didn't the exploited teen asia guy get busted for credit card fraud in europe somewhere. I have heard of another BKK "personality" that makes a living out of sending bent Playstation games/DVDs etc. back to his "little corner of farangland" which i assume would be just as risky with regard to litigation. Link to comment Share on other sites More sharing options...
Crash999 Posted May 9, 2004 Report Share Posted May 9, 2004 HIGH THAIED said:$30,000 of it, is why he got sued. Appearenty, a credit card company (Visa) sold the debt to a collection agency. This is who is taking him to court. Sounded like this is the norm. Credit card company will not come after you directly. They will sell obligation to a collection agency for pennies on the dollar, and that is who you will end up having to deal with. One colleague of mine worked for a collection agency part-time when he was in college. Told me some crazy stories about fetching television sets out of peoples' living rooms and such. Not exactly sure where these agencies can stop in their attempts to get back some of their debt. He quit working at the agency when he was shot-at while taking someone's fridge out of their house. Didn't see the first post here, but sounds like simple fraud. Might as well insure something and arrange to have it stolen. *Might* get some easy money, but not exactly legal and certainly not ethical. The sale of bad debts to a specialist is also what happens with banks who have bad loans on their books. Here in Thailand lots of bad debt was sold to investment banks back in 98-99 but the government stepped in shortly thereafter and formed TAMC to purchase bad debt from banks. Ever since then the level of NPLs has been greatly reduced in banks, but the problems haven't all gone away- it's not clear what exactly (if anything) TAMC is doing to rehabilitate the NPLs it has on its books. Cheers! Link to comment Share on other sites More sharing options...
elef Posted May 9, 2004 Report Share Posted May 9, 2004 Hi, debt collection firms - I don't know if credit card companies use them. A scandinavian company had a nigerian customer which didn't pay the debt of 1 million GBP. Nothing helped so they were recommended to use a London-based debt collection firm. No fees just 50 % of money found. And they got ½ a million back! No questions asked of course! elef Link to comment Share on other sites More sharing options...
Guest Posted May 9, 2004 Report Share Posted May 9, 2004 >>>*Might* get some easy money, but not exactly legal and certainly not ethical.<<< not ethical - LMAO! what please is ethical? to be poor? ethical in my books when it concerns large banks, insurances etc. is finding a way how to get away with stealing from them. its a simple case of stealing from the worst thieves, sort of robin hooding it: give it to the needy. which in my case is me. Link to comment Share on other sites More sharing options...
khunsanuk Posted May 9, 2004 Report Share Posted May 9, 2004 Hi, The thing is, FLy, that you will not be stealing from them, but rather from their other customers. Sanuk! Link to comment Share on other sites More sharing options...
pe7e Posted May 9, 2004 Report Share Posted May 9, 2004 I'm with you on this one, my credit card company and bank has been robbing me blind for years with their outrageous charges and interest rates. If I ever found myself in the position of having no visible assets they could seize, and/or a limited life expectancy I would have the bastards, and have them good. It might not be ethical, but neither is the blatant exploitation they are engaged in! f**k em, thats what I say. :: Link to comment Share on other sites More sharing options...
Guest Posted May 9, 2004 Report Share Posted May 9, 2004 The World Bank and IMF do a lovely job of helping the poor developing world get on their feet. I don't know how you could say such bad things about the banking industry? Link to comment Share on other sites More sharing options...
BelgianBoy Posted May 9, 2004 Report Share Posted May 9, 2004 pe7e said:I'm with you on this one, my credit card company and bank has been robbing me blind for years with their outrageous charges and interest rates. Pete, With all respect, who forced you to have a credit card in the first place, and who is forcing you to even use it ????? Its a case of the pot claiming that the kettle........ You complain about you using the card, just stop using it then.... In Belgium, the situation is different, CC are issued through the banks where one has an account. And all uses of any CC has to be paid in full on the last day of that month, full stop, no exception, no time table, nothing. BB Link to comment Share on other sites More sharing options...
Guest Posted May 9, 2004 Report Share Posted May 9, 2004 >>>The thing is, FLy, that you will not be stealing from them, but rather from their other customers.<<< nah, if i steal from them, they will steal it back from their other customers. even if i don't steal anything they will still find some way to steal from their other customers (one day i might tell you how i was defrauded of moneys you would not believe by a very elaborate con by some banks/corrupt bankers, a con where i have no chance to do anything about). this system only works because people are sheep and simply accept whatever bullshit is told to them. just because a con is 'legal' doesn't make it anything else than a con. Link to comment Share on other sites More sharing options...
Guest Posted May 9, 2004 Report Share Posted May 9, 2004 Not to sure how to look at this, but the guy stole $100,000. If he walked into a bank, and did so, his ass would be in jail for quite a long time. But because the credit card companies stupidly exstended him the credit, it's looked at, as a much lesser offence. Bottom line is, he spent $100,000 of someone elses money. Whether he took from a bank, someones house, or hit someone over the head to obtain, the end result is still the same. I guess because the credit departments exstended him the credit, it's their own fault for doing so, for not insuring his ability to pay. ????? HT Link to comment Share on other sites More sharing options...
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