LAX Posted December 16, 2008 Report Share Posted December 16, 2008 Hi on my last trip to BKK, one of my regulars told me she had to borrow 10k baht from a loan shark at 20% a month interest, I offered to give her the baht to pay it off, and she could "work" off the loan , it all worked out , she paid off the loan shark , and worked off the baht in the next couple weeks , I was going to give her the baht over my vacation anyway so it was not a big deal, But I was wondering if 20% a month was normal , and what happens if the girls do not pay ? Dave Link to comment Share on other sites More sharing options...
cavanami Posted December 16, 2008 Report Share Posted December 16, 2008 The gold shops and pawn shops are another type of loan shark. I think they charge 10% per month. 20% sounds right from a loan shark (read that, maffia). Link to comment Share on other sites More sharing options...
beano Posted December 16, 2008 Report Share Posted December 16, 2008 They call it six and five in the Philippines. Borrow five, pay six back at the end of the month. I'm sure I've heard it called that amongst the Pattaya girls as well. If they can't pay it, it compounds. Link to comment Share on other sites More sharing options...
khunsanuk Posted December 16, 2008 Report Share Posted December 16, 2008 Hi, "But I was wondering if 20% a month was normal , and what happens if the girls do not pay ?" Yes, unfortunately this is normal. I even think the 20% is *monthly*. Sanuk! Link to comment Share on other sites More sharing options...
LAX Posted December 16, 2008 Author Report Share Posted December 16, 2008 hi yes it was 20% a month , she was lucky it was the first month and I happened to show up , she did use the word "mafia" but I was not sure if that was real or just something to make her point that she was in trouble. Hey I made a few browny points , she got out of a jam and hopefully will not do it again , but I think poor people get sucked into this too easily, Dave Link to comment Share on other sites More sharing options...
Bangkoktraveler Posted December 16, 2008 Report Share Posted December 16, 2008 Hi, "But I was wondering if 20% a month was normal , and what happens if the girls do not pay ?" Yes, unfortunately this is normal. I even think the 20% is *monthly*. Sanuk! I think it also depends on how much the loan shark can squeeze the victim. I guess in some areas it is a thrieving business. Link to comment Share on other sites More sharing options...
radioman Posted December 16, 2008 Report Share Posted December 16, 2008 I've heard about this too and seen some of the results of non payment. If you're interested I am sure you can find some of the websites with the relevant videos! On one occasion the story went that the Thai BF borrowed money and put the girl up as collateral. It also extends well outside of the p4p sector. Link to comment Share on other sites More sharing options...
bust Posted December 16, 2008 Report Share Posted December 16, 2008 hi yes it was 20% a month , she was lucky it was the first month and I happened to show up , she did use the word "mafia" but I was not sure if that was real or just something to make her point that she was in trouble. Hey I made a few browny points , she got out of a jam and hopefully will not do it again , but I think poor people get sucked into this too easily, Dave How long do you think before she does it again. Just be careful....you bailed her out once so I am guessing there will be a level of expectation from you now. Link to comment Share on other sites More sharing options...
LAX Posted December 16, 2008 Author Report Share Posted December 16, 2008 "How long do you think before she does it again. Just be careful....you bailed her out once so I am guessing there will be a level of expectation from you now." yeah that may happen , but I do not live in LOS and she does not have my USA contact info. I have know her for 5 years and always have a good time with her. We will see what happens next trip Dave Link to comment Share on other sites More sharing options...
samak Posted December 16, 2008 Report Share Posted December 16, 2008 yes, i can confirm that 10-20% PER MONTH are normal! some have to take new loans from different guys just to pay the interests. so sooner than later they will get into troubles! Link to comment Share on other sites More sharing options...
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