brottbyman Posted September 8, 2005 Report Share Posted September 8, 2005 Hi guys, I have heard of thais borrowing from each other for very high intrest rates and now i now of it first hand :: The wife borrowed thb 50.000 seven months a go at 10% intrest per month ::. Is it just pay upp or is there usualy room for negotiation. cheers Link to comment Share on other sites More sharing options...
Guest Posted September 8, 2005 Report Share Posted September 8, 2005 sure. If you negotiate skillfully enough, they'll only break one leg instead of both. Link to comment Share on other sites More sharing options...
-.-.- Posted September 8, 2005 Report Share Posted September 8, 2005 Borrowing from who? Have to be specific as from "each other" - other Thai people I assume- leaves over fifty million possibilities. From relatives is usually the first choice. If it is from a falang it can usually just be considered a gift. Other relatives- Thai relatives- will almost always expect it back. Commercial lending is a different story. Ten percent a month is not impossible but is unusual. If she really borrowed at that rate, in other words this is not a way to scam you for some money as I personally suspect it is, she should never be allowed to know anything about your personal finances and should not be allowed to cosign on any asset you would like to keep. I could probably get her half that interst rate from non-bank lenders but I would need to see some nude photos first. Link to comment Share on other sites More sharing options...
-.-.- Posted September 8, 2005 Report Share Posted September 8, 2005 Am I reading this correctly or is this a software glitch of some sort? Did we really both register for nanaplaza.com on the same day? That is a good omen- if the pictures look OK I can get her 4% a month. Link to comment Share on other sites More sharing options...
brottbyman Posted September 8, 2005 Author Report Share Posted September 8, 2005 Yep looks like we registered on the same day. A few more detailes. Not from a bank and not from relatives. From what i gather even though she says a friend it seems more like a loan shark ( this was before i got involved with her). She has been paying the 5.000 every month until she moved to Falangland 6 months ago. So what i am wondering is if the "friend" would accept a lesser intrest if she(i) pay the debt as she is in Falangland and no idea when my wife is comming back. But then again the interest might go upp to 20% when she finds out she has married a Falang. Cheers Link to comment Share on other sites More sharing options...
-.-.- Posted September 8, 2005 Report Share Posted September 8, 2005 You need to be absolutely sure this is not a scam. I have heard this many times, exact same story, and it was a scam every time. The girl could produce bank transfer details but it was for a relative or boyfreinds account. I could help but will not be back in Thailand for at least a month, or more. and you need to deal with this quickly. If it is a loan shark what kind? The Indian money lenders who prowl around Soi Cowboy at night? Or serious money lenders that hurt people? Even with a loan shark there is usually a written record of some sort that she should have. You need to get that translated right away. Even with a terrible rate it is usually written. Through someone she trusts, usually a male relative, she could offer to pay a lesser amount in full because she does is "not coming back to Thailand but does not want to cause problems for the person who helped her and loaned her the money". They will never accept less on the principle but would on the interst. Get it in wirting. Link to comment Share on other sites More sharing options...
thalenoi Posted September 8, 2005 Report Share Posted September 8, 2005 10% is the usual money shark lender %. The gf just discussed this subject last week because she got two requests for lending 30k out. But she knowsthe parties concerned make 3kbaht/month and wonders how thuy would be able to pay back, she was considering asking only 5% Link to comment Share on other sites More sharing options...
rickfarang Posted September 8, 2005 Report Share Posted September 8, 2005 My observations back Thalenoi's statement. She could get 5% (per month) for a good friend or neighbor. Link to comment Share on other sites More sharing options...
elef Posted September 8, 2005 Report Share Posted September 8, 2005 Hi, 10 % is the normal interest rate if you can pledge gold or land, often you can borrow in a gold shop. The sharks charge 20 % or if you're indebted already 40 %. Yes, per month! elef Link to comment Share on other sites More sharing options...
brottbyman Posted September 8, 2005 Author Report Share Posted September 8, 2005 Not a good friend and not a neighbor. I susspect it is just pay. The persons concened rang to my wifes mother at the weekend wondering why she hadn`t paid and i dont won`t the family to have problems and we will probaly be moving to Thailand in 6 or 7 years and don`t want any problems then. Link to comment Share on other sites More sharing options...
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