radioman Posted December 16, 2008 Report Share Posted December 16, 2008 Sort of a reverse Ponzi scheme. Link to comment Share on other sites More sharing options...
buffalo_bill Posted December 16, 2008 Report Share Posted December 16, 2008 I do not wish to defend the loan shark business but if anybody here wishes to enter the Klong Thoey private loan sector please feel free to do so . A higher risk trade is almost not possible . Now how is fucking non-expat BuBi qualified to enter this discussion of the learned residents ? Because aforementioned BuBi works with a BKK based foundation supporting a gang of young Thai citizen who otherwise cannot afford going to school ; a real lot of those regularly disappear from my payroll because the parents escape from loan sharks . Consider the huge interest being a collateral . Said foundation runs a small-loan bank to replace the sharks , the repayment discipline is amazingly high , loans are about 120 US average , an electric rice cooker can change a life . Link to comment Share on other sites More sharing options...
beano Posted December 16, 2008 Report Share Posted December 16, 2008 The sharks must incur bad debts, if a girl runs back to her village she would be untouchable. My ex girlfriend's sister did this and the loan shark used to call in regularly to see if she was back and there was never any implied threat. Link to comment Share on other sites More sharing options...
buffalo_bill Posted December 16, 2008 Report Share Posted December 16, 2008 The rural environment might cause more polite strategies but I assure you that you have to consider the opposite under normal circumstances , the loan sharks stop at nothing which is their business principle . Link to comment Share on other sites More sharing options...
kamui Posted December 16, 2008 Report Share Posted December 16, 2008 The rural environment might cause more polite strategies but I assure you that you have to consider the opposite under normal circumstances , the loan sharks stop at nothing which is their business principle . Otherwise they would be called loan carps... :content: Link to comment Share on other sites More sharing options...
WorldFun Posted December 16, 2008 Report Share Posted December 16, 2008 in the west we have something similar - it's called credit cards actually I'm sure every major city have their little local outlet of those mafia loans as well - be it asian, east europe, african, latin am you name it! easy to exploit people with no money I must even admit I take part in these loan schemes from time to time here in BKK & yeah the ROI is pretty steep Link to comment Share on other sites More sharing options...
Gadfly Posted December 16, 2008 Report Share Posted December 16, 2008 Loan sharks and the amounts they charge are now being publically discussed in the context of employee layoffs and, particularly, the decision of many companies not to pay a 13th month bonus at year's end. Apparantly, that 13 the month has already been spent, and the authorities are concerned about what will happen if businesses in Thailand don't pay this bonus. The Labour authorities have actually come out and said this is one reason why foreign companies should pay this bonus even if they don't have the funds to do so. Heard this today. TIT Link to comment Share on other sites More sharing options...
cavanami Posted December 16, 2008 Report Share Posted December 16, 2008 >The Labour authorities have actually come out and said this is one reason why foreign companies should pay this bonus even if they don't have the funds to do so... So if I do NOT have the funds, how the *** f *** and I suppose to pay? Borrow from loan sharks? The how the *** f *** am I going to pay it back...dumb azz gov comment! Link to comment Share on other sites More sharing options...
samak Posted December 16, 2008 Report Share Posted December 16, 2008 very poor management if they don't have the funds to pay a regularly promised 13. month salary! ok if losses do not allow additional bonus to scrap those! Link to comment Share on other sites More sharing options...
allistar Posted December 16, 2008 Report Share Posted December 16, 2008 My Thai wife has, over the past 18 months, loaned out money on a monthly basis for a 10% return per month. She said, in the past, that she has loaned out money for as much as 20% per month. Obviously, ther is a risk that it won't be re-paed but she only makes loans to friends or neighbors. So far, everyone has paid. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.