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Urgent: Problems with Khon Kaen Loan Shark
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  1. #1
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    Problems with Khon Kaen Loan Shark

    Hello,

    This is my first post. I have been in Thailand for nearly 3 years and in a relationship with an Isaan girl for 2 and a half years, I am 33 and she is 32. I have a big problem and need some advise if there is anyone that can help.

    My girlfriend took out a loan with a loan shark and as a deposit he got her land/house documents, the loan was for 250, 000 bt. He said at the time 3% interest a month is to be paid. That was 18 months ago, this information is only a week old for me. Anyway last week a police officer come and got my girlfriend and took her to a holding cell before and after she appeared in court I then bailed her out for 10,000 bt and got a new court date of 11th April.

    So I caught up with what had happened and he has been not only collecting his agreed 3% a month but in the last few months threatened court action and eviction of 'his' land unless she paid more tax and so receiving sums of 30,000 and 40,000 until he had cleaned her out as she had cleaned my bank account out to pay him, then wasting no time when she was at her weakest financially and emotionally to make his promise of legal action.

    Next I went and hired a lawyer and asked some advice which he said go and talk to the loan shark and see what he wants and if its something we fair and we can work with. I sat down and instantly didn't like this man but needed to remain calm and talk, I asked for the total to clear the balance and get back the documents to which his reply was 650,000. I couldn't hide the shocked look on my face but composed myself to ask how he came to that figure and he said the loan was for 300, 000 plus 5% interest every month and fees for missed payments. I then asked for a copy of any payments he received which of course he didn't have so I told him that was too much and wanted the tax already paid to be deducted and I will try and come up with a plan to repay, maybe 50% down and another 50% 6 months later. His reply was he wanted a deposit before the court date to which I said I wouldn't be handing over any money to him without seeing my Lawyer first (because I clearly don't trust him), I had lost my temper by then and so had he. That was it he said talk to your Lawyer then and we left.

    I then went to see our Lawyer and I said I wanted to set up a new plan to pay the balance minus the paid interest and he said he will speak with the mans lawyer and request that information and we go from there.

    We arrive home to find her Mum in floods of tears as he had called and said he wasn't happy and wouldn't sell us back the land for 2 million baht as I had insulted him in his shop. I should also add when we went to his shop we see him chatting away to the same policeman who came and took my girlfriend to court, weird eh?!

    Any advice would be welcomed. I read somewhere that there was a government refinancing scheme is that still going?

    Given his aggressive attitude and his connections within the police I am also a little concerned about our safety which is my number one priority.

  2. #2
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    Re: Problems with Khon Kaen Loan Shark

    ... he had cleaned her out as she had cleaned my bank account out to pay him ...
    My advice, get out of Dodge!
    "Repudiate bullshit wherever you find it. Reason is worth standing up for." - Peter Boghossian



  3. #3
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    Re: Problems with Khon Kaen Loan Shark

    Quote Originally Posted by Curt View Post
    My advice, get out of Dodge!
    Either that or rely on your lawyer-if you have any doubts about him-change to another. Any other course of action will probably mean starting at a great disadvantage as a farang.
    Last edited by Khun Don; 05-03-16 at 04:29 AM.

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    Re: Problems with Khon Kaen Loan Shark

    Get out of Dodge while you're waiting on the attorney to settle things, and take the family with you.

    Another thing: If you reach a settlement with the shark pay him off at once, even if it means borrowing from your bank at home, or borrowing on your credit card. Anything would be better than having further dealings with him. They're not called sharks for nothing, and in Thailand they are no more congenial than sharks in any other waters.
    Last edited by Susana; 05-03-16 at 04:57 AM.

  5. The Following User Says Thank You to Susana For This Useful Post:

    Khun Don (05-03-16)

  6. #5
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    Re: Problems with Khon Kaen Loan Shark

    From the numerous dealings my in-laws have had with Thai attorneys, I would say they make US attorneys look like saints.

    Let me see if I got this right.

    For whatever reason, your girlfriend decides she needs 250,000 baht. She doesn't come to you. Instead, she heads off to a criminal.

    A year and a half later, when it blows up in her face, she gets you involved, "cleaning out your bank account", and having you confront the criminal.

    You go to the criminal and insult him. Now, the demands keep growing.

    Your solution is obvious. Unfortunately, "love" is blind!

    Their solution is to find a cheap rental, far away.
    "Repudiate bullshit wherever you find it. Reason is worth standing up for." - Peter Boghossian



  7. The Following 3 Users Say Thank You to Curt For This Useful Post:

    h90 (05-03-16), Khun Don (05-03-16), Susana (05-03-16)

  8. #6
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    Re: Problems with Khon Kaen Loan Shark

    In case you can't see through the fog, let me make it perfectly clear.

    You are a marked man in upcountry Thailand, where life is cheap.

    Run as far and as fast as you can!
    "Repudiate bullshit wherever you find it. Reason is worth standing up for." - Peter Boghossian



  9. The Following 3 Users Say Thank You to Curt For This Useful Post:

    h90 (05-03-16), Khun Don (05-03-16), Marie (05-03-16)

  10. #7
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    Re: Problems with Khon Kaen Loan Shark

    Hi

    Were you having any problems with GF before all this happened? Might she be in on it?

    Might be an illegal loan shark. Have you tried to contact any higher authority for help and to see if it actually is a valid collectable loan. but doing so might stir up a bigger hornet's nest and cause more problems

    Agree instead of throwing money at a never ending problem might be best to cut your lose's and run

    if still with GF take all valuables and every thing out of house and property, let the Loan shark have to settle debt. then move and start over.

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    Khun Don (05-03-16)

  12. #8
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    Re: Problems with Khon Kaen Loan Shark

    Quote Originally Posted by Curt View Post
    In case you can't see through the fog, let me make it perfectly clear.

    You are a marked man in upcountry Thailand, where life is cheap.

    Run as far and as fast as you can!
    Which saves xx million Baht. As these things will never end.......
    Run as far and as fast as you can!

  13. #9
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    Re: Problems with Khon Kaen Loan Shark

    Me and my GF have broken up over this but to be honest I really don't like the man and how he conducts himself as much as I don't like the way my GF took money from my bank.
    I want to get the house back at a fair price so if I can do that rather than run I will, also it has been the family home for 100 years plus and I feel sorry for them so want to leave them their house for them as my parting present (far too nice of me!).
    I have emailed government authorities as he obviously has a good relationship with the police so I'm thinking if I can somehow get the government involved they are the superpower here.
    I also got my GF to google the mans name as I couldn't because it only had the thai, straight away there was a thai lady who had exactly the same problem with this man and posted her story the best part was she got it reduced and put the name of a contact in Khon Kaen who specialises in this so will go to see them Monday.

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    Khun Don (05-03-16)

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    Re: Problems with Khon Kaen Loan Shark

    It's not about the money; it's about your safety.
    "Repudiate bullshit wherever you find it. Reason is worth standing up for." - Peter Boghossian



  16. The Following 3 Users Say Thank You to Curt For This Useful Post:

    h90 (05-03-16), Khun Don (05-03-16), Susana (05-03-16)

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