DiscussWorldIssues - Socio-Economic Religion and Political Uncensored Debate - View Single Post - Laws in Thailand regarding licensed money lending companies

**BoarmomorurrY** · 08-21-2006, 08:00 AM

Hi Everyone,

I'm new to this forum and would like to seek some advice and opinions on a situation i have come across.

My girlfriend who is a Thai, received a lawyers letter asking for payment of 30,000 baht to a licensed money lending company in Bangkok. Her childhood friend borrowed the money and asked her to be a guarantor in which she agreed.

Unfortunately, her friend has 'disappeared' and she is unable to contact him/her. Because of this, the company went after her instead, reason being that she is the guarantor. She thought she could trust a childhood friend of over 10+ years, but i guess she was wrong.

She told me that they company told her if she cannot pay up, they will bring in the Thai police and will jail her and declare her bankrupt. (possible 6month to 2year sentence) She has spoken to them requesting for installment payments and they told her 15,000 Baht this month and another 15,000 Baht next month. Problem is that we do not have sufficient amount to pay for this current month ! She can only make the 15,000 Baht payment next month.

I would like to ask you guys for your opinions on this matter. I personally feel that to jail her just because she cant pay is very harsh penalty. Can they really do that in Thailand? I mean, its not as if she killed somebody or cheat or steal.

Furthermore she isn't the principal borrower also. Instead of jailing her and getting no money back at all, wouldn't it be better if the company work out an installment arrangement and get some money back?

I would really appreciate any help and suggestions on this matter. Any experiences you all can share as well? Or can she seek help from the provincial town hall? I would really prefer not to see her jailed. :-(

Thank you.

08-21-2006, 08:00 AM	#7
BoarmomorurrY Join Date Oct 2005 Posts 453 Senior Member	Laws in Thailand regarding licensed money lending companies Hi Everyone, I'm new to this forum and would like to seek some advice and opinions on a situation i have come across. My girlfriend who is a Thai, received a lawyers letter asking for payment of 30,000 baht to a licensed money lending company in Bangkok. Her childhood friend borrowed the money and asked her to be a guarantor in which she agreed. Unfortunately, her friend has 'disappeared' and she is unable to contact him/her. Because of this, the company went after her instead, reason being that she is the guarantor. She thought she could trust a childhood friend of over 10+ years, but i guess she was wrong. She told me that they company told her if she cannot pay up, they will bring in the Thai police and will jail her and declare her bankrupt. (possible 6month to 2year sentence) She has spoken to them requesting for installment payments and they told her 15,000 Baht this month and another 15,000 Baht next month. Problem is that we do not have sufficient amount to pay for this current month ! She can only make the 15,000 Baht payment next month. I would like to ask you guys for your opinions on this matter. I personally feel that to jail her just because she cant pay is very harsh penalty. Can they really do that in Thailand? I mean, its not as if she killed somebody or cheat or steal. Furthermore she isn't the principal borrower also. Instead of jailing her and getting no money back at all, wouldn't it be better if the company work out an installment arrangement and get some money back? I would really appreciate any help and suggestions on this matter. Any experiences you all can share as well? Or can she seek help from the provincial town hall? I would really prefer not to see her jailed. :-( Thank you.
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