legover Posted May 4, 2003 Report Share Posted May 4, 2003 have a Thai friend, puying, who borrowed, on a signed note, 2000 baht with a 200 baht per 10 day interest premium. she payed this already 7 months, roughly 4000 baht to date. any comments on this, guys? regards 3d Link to comment Share on other sites More sharing options...
Guest Posted May 4, 2003 Report Share Posted May 4, 2003 Good rate for the loan-shark. Link to comment Share on other sites More sharing options...
think_too_mut Posted May 4, 2003 Report Share Posted May 4, 2003 >have a Thai friend, puying, who borrowed, on a signed note, 2000 baht with a 200 baht per 10 day interest premium. she payed this already 7 months, roughly 4000 baht to date. any comments on this, guys? Have you considered giving her 2K to pay the principal? Link to comment Share on other sites More sharing options...
Guest Posted May 4, 2003 Report Share Posted May 4, 2003 To add: In my books that's a moderate interest rate of 300% p.a. Link to comment Share on other sites More sharing options...
legover Posted May 4, 2003 Author Report Share Posted May 4, 2003 Peter says ?In my books that's a moderate interest rate of 300% p.a.? Peter, I think it?s 365%. TTM, yes, I?ll pay the creep. didn?t learn about it till today. funny thing, the loan guy calls her every day talking shit & knows she?s here. Link to comment Share on other sites More sharing options...
Guest Posted May 4, 2003 Report Share Posted May 4, 2003 Ooops, sorry, of course 300% is not enough. Are you calculating with 365 days? We usually calculate 30 days per month and 360 days per year. However, doesn't matter at all. For the solution: Instead of paying her debts how about lending the money from a bank? Should be around 10% - 15% p.a. Link to comment Share on other sites More sharing options...
Guest Posted May 4, 2003 Report Share Posted May 4, 2003 Someone is taking advantage of her. 10% per month (120% per year) is the "fair" rate, can be as low as 5% per month if your considered a good risk. BTW I've been to used car dealers who charge the same and calculate interest for life of the loan and load it all on top of the principal. Talk about a prepayment penalty, shit. Link to comment Share on other sites More sharing options...
samak Posted May 5, 2003 Report Share Posted May 5, 2003 you have not told us much about the borrower! maybe there is something, that causes the lender to evaluate her as a high risk... a lot of people in thailand borrow money from others and never pay back. there are also a lot of BG pretending to have loans and beeing extorted by loan sharks to target the farang's mercy... Link to comment Share on other sites More sharing options...
legover Posted May 6, 2003 Author Report Share Posted May 6, 2003 about the borrower ? known her about two years, nice boobs, great face, 23, easy to get along with, has a few mild bad habits but on balance I?d say she?s jai dee, never been to jail though several family members have/are spending some time there, an ex and still occasional freelancer & I try to ignore it, best weight was 48 kilos but now she?s a few more and it masks her looks but still a lovely ride, likes to dress up in semi-religious costume and assorted gear when aroused, likes to paint, has a comical 5 yr old kid her mother looks after. We?re working on a diet program and needs lots of hand-holding on that. She tries to support her family and as I?ve gradually reduced her money she?s always pretty much broke. She scammed me a year ago for 5000 baht after which I put her on notice and as far as the 2000 baht loan I?d be alarmed if it was much bigger but so far not too much damage. I?d say the risk to the lender is high due to lack of a normal job and any money she gets disappears fast. From the numbers of calls to her mobile from him I?d say he was already bonking her or is about to. at heart she comes off as a relatively honest girl but like chronic pain, long term desperate need for cash can warp the character. Gave her a big lecture about borrowing money and told her this was the last time (right). When I asked her about repercussions if she didn?t pay up she said shylock would ?smack on my mother? who has guaranteed the loan. Link to comment Share on other sites More sharing options...
samak Posted May 6, 2003 Report Share Posted May 6, 2003 i wish you will succeed in your mission, but it will not be easy! Link to comment Share on other sites More sharing options...
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