Crash999 Posted June 7, 2004 Report Share Posted June 7, 2004 Not sure where the major malfunction is here... If you buy something on a credit card and don't pay it off at the end of the month, you accumulate interest charges. Unless it is an absolute emergency, there's *no reason to use credit cards to finance the purchase of consumer products*. Don't do it! Wait until you have the money and then buy whatever it is you want to buy. As far as scamming credit card companies, insurance companies, or whatever- everything rationalizes it by thinking they're only hurting the company. But of course the money doesn't grow on trees- the companies must make up their losses by finding new ways to charge customers. So for each scam someone pulls off, all of our costs increase. Link to comment Share on other sites More sharing options...
spirit_of_town_hall Posted June 7, 2004 Author Report Share Posted June 7, 2004 Of course the costs are past on. However would you really worry about that if you could take 30 000 000 baht to settle in LOS. STH Link to comment Share on other sites More sharing options...
Crash999 Posted June 8, 2004 Report Share Posted June 8, 2004 Forgetting the fact that it's simply a wrong thing to do- First of all, 30,000,000 baht is a hell of a lot of money to get out of credit cards. Considering that a good platinum will have a million baht limit and credit reporting agencies track how many cards you have, I don't see how you'd be able to get so much liquid capital all at once. But let's assume you could steal 30m baht somehow and flee the country. The obvious question is what you can do with your money to provide a steady income stream. There's an extradition risk, and of course you'd never be able to step foot back in your home country- so if your money runs out you might as well take a 'pattaya leap' off the nearest tall building. Link to comment Share on other sites More sharing options...
spirit_of_town_hall Posted June 8, 2004 Author Report Share Posted June 8, 2004 The good thing about the scheme is that because it takes about 18 to 20 months to accrue that level of credit, you will have been paying some money to the cards each month, it will only ever be a civil matter... Of course you can come back to your home country, there'll be no one from VISA waiting for you at customs... Your right 30 000 000 baht although a lot wont last 30 years. Its for those who have other funds, or maybe guys in their 50's who can see that lasting. You are not taking it out in cash incidentally, you will have it in European bank account. You are all giving the banks and credit card companies more credit than they are due. STH Link to comment Share on other sites More sharing options...
gummigut Posted June 8, 2004 Report Share Posted June 8, 2004 You keep saying this crap about "The good thing about the scheme". Then you say, "Its for those who have other funds". Umm, for those WHO HAVE other funds they wouldn't need this hairbrained scheme. Who cares about the civil side crap. You're doing this to live in Thailand. What happens if you make an enemy in Thailand who informs them of what you've done. Better yet, tells the credit card companies (who by this time will have gotten together and noticed the big $$$'s on your credit report) who then inform the Thai government. Think your visa is going to last? What are you going to do when you're shipped back? This is worse than the Thai habit of shafting you today for an extra 100 baht rather than taking 50 baht in perpetuity. No future thought AT ALL! Get a damn clue <<burp>> Link to comment Share on other sites More sharing options...
soongmak Posted June 8, 2004 Report Share Posted June 8, 2004 they just blame everything on somebody else, but keep making great profits Now why is that? Because there are enough greedy people out there who can't wait to buy a new car, electronic gadget, holiday etc. they are stupid enough to buy credit, and they have to pay it back. Don't want to get in trouble. don't buy on credit. Simple. It's the same with greedy idiots plungin' their life savings in the stock market, because a 4 to 6 % return wasn't good enough. Now their crying crocodile tears because the money is gone. Blame anything - blame greed. I have no sympathy for 99% of the people with debt problems. Cheers, soongmak Link to comment Share on other sites More sharing options...
spirit_of_town_hall Posted June 8, 2004 Author Report Share Posted June 8, 2004 Be real, the Thai govt arent interested in some guy who has not paid his credit card bill. I said 30 000 000 baht although a lot is not enough for a 30 year old to retire on. However for say someone of 54 who already has some savings and a modest pension it would make a big difference. It seems to have rattled your cage, incidentally why would you tell anyone about your financial circumstance. You would be living quietly in Chaing Rai with your 30 000 000 baht generating a little bit of interest in your Belgium bank account. Really the risk is negligible. STH Link to comment Share on other sites More sharing options...
gummigut Posted June 9, 2004 Report Share Posted June 9, 2004 "Be real, the Thai govt arent interested in some guy " Well golly gee willickers batman. You are right. None of my friends have anymore problems with visas, reporting requirements, or any bureaucracy at all. Note that I said when someone points it out to them. If Visa Int'l or Amex wrote a letter to the Thai gov't, they aren't going to ignore it. YOU say the risk is negligible. I'll argue that it isn't. It may not be humongous but what you OBVIOUSLY AREN'T getting is that the downside is HUGE. Let's say you are 54, come over here for a few years, then you get ratted out. You can't get back into Thailand, you've got to go back to your home country. What the hell is this person supposed to do? As for who could maybe not like you? Anyone who is envious. Let's say you got involved with a woman, she rats you out. "Oh hunny, the car got stolen, the house was broken into, blah blah blah. I do not know what to do when you are not here." Wait, that never happens. Everyone here in Thailand is on the up and up and no one will ever scam you. "It seems to have rattled your cage" Because you keep INSISTING on PURSUING this DUMB IDEA. I find it particularly interesting that this is coming from the same person who spouts the racist comment that "Thais are inherently more corrupt". What you are proposing is theft. Pure and simple. In and of itself it's just plain wrong. <<burp>> Link to comment Share on other sites More sharing options...
allatsea2000 Posted June 9, 2004 Report Share Posted June 9, 2004 Im not that good at maths, but that equates to OVER 1,000,000 AUSSIE dollars. Hmm i think even without interest that would last along time. I think if someone did this they would be prepared to burn there bridges and not return home ever. Even alowing $30,000 a year spend that still equates to more than 35 years without doing a thing with your money. It still equates to more than 2300baht per day to spend. Im not sure but if you are living there full time i dont think you could averagee 2300baht spend per day not sure anyway interesting excercise. Possibility of another scenario. Use a debt consolidator. This means you use someone else to negotiate a settlement on the amount u owe. This way the credit card company gets something. I think it works out to be sometimes only one third, so that would still leave you with 20,000,000 baht to play with and the case is then closed. Link to comment Share on other sites More sharing options...
spirit_of_town_hall Posted June 9, 2004 Author Report Share Posted June 9, 2004 I think you are being naive gummigut, who would VISA write to? Also you will owe lots of small lenders amounts up to 2 million baht. Its not the responsibility of the Thai govt to run around hauling in people who have defaulted on their credit card. If you dont like the idea gummigut dont pursue it. I wouldnt classify this as corruption. Corruption is abusing ones official position for personal gain. One good point your made however is that their is a risk of being ratted out, all the more reason for living a quiet life and having a consistent story about ones retirement etc etc. STH Link to comment Share on other sites More sharing options...
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