He's a nice guy. Hard worker but just can't seem to get ahead. From time to time he nips across the soi to borrow money from me. So far he's paid it back and for sums over a couple of thousand, he gives me his motorbike papers as security.
I don't really like lending money. Too many times it doesn't come back and we all know that friendships can be broken. Like selling your old banger to a family member or friend.
So, irrespective of whether it comes back this time, I have told the g/f, who is a soft touch, not to ask me again. I want my peace of mind.
How do others deal with this?
The Neighbour Wants To Borrow Money Again
Re: The Neighbour Wants To Borrow Money Again
Not worth anything as security.MrPlum wrote: he gives me his motorbike papers as security
If you dont want to do it, don't do it.
You only live once.
the neighbour wants to borrow money
better do not borrow money ever as they'll always come back for more. A soft spot for borrowing doesn't get you anywhere in Asia.
This is my personal opinion but during my 17 years in LOS we got numerous requests for money and turned them down. Most of the time it is to settle scores for gambling.
This is my personal opinion but during my 17 years in LOS we got numerous requests for money and turned them down. Most of the time it is to settle scores for gambling.
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Vital Spark
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- Location: Arcos de la Frontera, Spain
We lent our landlady 30k so that her daughter could come up with the deposit to buy a pick-up (they didn't have a car). We arranged to live rent free for 15 months (we only pay 2k a month for our house) - it worked well. No embarrassing nudges to try and get the money back.
Unfortunately since then we've lent the daughter 10k - I don't know why she needed it, but she was desperate. That was two months ago. Her mother doesn't know, so we can't do the rent free bit again. I've kind of written it off, but she won't get any more...
VS
Unfortunately since then we've lent the daughter 10k - I don't know why she needed it, but she was desperate. That was two months ago. Her mother doesn't know, so we can't do the rent free bit again. I've kind of written it off, but she won't get any more...
VS
"Properly trained, man can be a dog's best friend"
Vital Spark wrote:
(we only pay 2k a month for our house)
VS
With that kind of rent
I wouldn't miss the odd default. Time to move to the country.As you have experienced, the pleas get more and more desperate. It must be all the more difficult for you to turn them down if you are living in a small community.
My g/f has this notion that if she ever gets stuck, the borrowers may help her out one day. Nice sentiment but I don't provide for her to provide for someone else. Kind of defeats the object. (I'm a soft touch really).
The only time I've been properly ripped off in LOS was by a fellow foreigner, not a Thai.
Now there's a good topic.STEVE G wrote:You could try offering the sort of ruinous interest rates that Thais use for personal loans; ten percent a month and upwards!
I loaned 5k to the neighbour's mother, who left me her moto as security. The neighbour was the intermediary and when it was suggested I charge 10% interest I refused. 'No want interest' I charitably stated.
Found out later the son had skinned the mother for the 10% and pocketed it himself.
When in Rome?
Sorry.......I have to ask this .....you pay 2,000 baht a month in rent ?....where do you live ?...it seems to good to be true if its HH...tell us more !Vital Spark wrote:We lent our landlady 30k so that her daughter could come up with the deposit to buy a pick-up (they didn't have a car). We arranged to live rent free for 15 months (we only pay 2k a month for our house) - it worked well. No embarrassing nudges to try and get the money back.
Unfortunately since then we've lent the daughter 10k - I don't know why she needed it, but she was desperate. That was two months ago. Her mother doesn't know, so we can't do the rent free bit again. I've kind of written it off, but she won't get any more...
VS
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dtaai-maai
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Vital Spark
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Sorry to go off topic here folks, but the question was asked, and yes we were lucky...
We both work at Silpakorn University and decided that we didn't really want to live in Hua Hin. Nothing wrong with Hua Hin, but we're both country folk and like a bit more greenery around us, so we went West, 15kms to be precise. We stopped at all the local shops and asked if there were any houses to rent in the area (in our bad Thai). Anyway, it worked and we we shown this house. It looked horrendous as it had been empty for a couple of years. It belonged to the son-in-law of the shop owner and the marriage had gone wrong so it was empty, dirty, and needed a bit of TLC. When we were negotiating the rent we had a figure of 5k in mind, so we offered 3k. The landlady (mother-in-law) looked horrified and said that 2k was enough!
It's a two-bedroomed bungalow (no air-con, which is OK with us), with a separate building housing the kitchen and loo. Because we pay so little rent we do all repairs when needed and don't complain when the water supply disappears or the electrics go a bit wrong. There's no telephone, and the mobile signal here is pretty weak, so we have satellite Internet connection. Oh, the best bit. It's got a walled garden of nearly one rai.
It certainly wouldn't suit everyone because it's a bit remote, and there's no farang company around. Buying potatoes is a 70k round trip - but it suits us fine.
Back to topic now...
VS
We both work at Silpakorn University and decided that we didn't really want to live in Hua Hin. Nothing wrong with Hua Hin, but we're both country folk and like a bit more greenery around us, so we went West, 15kms to be precise. We stopped at all the local shops and asked if there were any houses to rent in the area (in our bad Thai). Anyway, it worked and we we shown this house. It looked horrendous as it had been empty for a couple of years. It belonged to the son-in-law of the shop owner and the marriage had gone wrong so it was empty, dirty, and needed a bit of TLC. When we were negotiating the rent we had a figure of 5k in mind, so we offered 3k. The landlady (mother-in-law) looked horrified and said that 2k was enough!
It's a two-bedroomed bungalow (no air-con, which is OK with us), with a separate building housing the kitchen and loo. Because we pay so little rent we do all repairs when needed and don't complain when the water supply disappears or the electrics go a bit wrong. There's no telephone, and the mobile signal here is pretty weak, so we have satellite Internet connection. Oh, the best bit. It's got a walled garden of nearly one rai.
It certainly wouldn't suit everyone because it's a bit remote, and there's no farang company around. Buying potatoes is a 70k round trip - but it suits us fine.
Back to topic now...
VS
"Properly trained, man can be a dog's best friend"
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Guess
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To VS. If the Landlady declined your offer of 3,000 and set the rent for 2,000 then that speaks volumes. Of course it does not apply to her offspring.
There is a whole network of Thai lending that works more often than not. Occasionally borrowers take on too much.
However there is definitely an element who think that white skin means unlimited supplies of cash via ATM machines. So to borrow money from a farang is only using him to get access to his bottomless pit.
There is no urgency to pay back because he didn't lend the money in the first place. It came from an ATM.
I have always used the Tung Mai Mee position when asked, to avoid further discussion wit people I don't know.
As for lending money to farangs is concerned it is an absolute no no unless I know them very well. Even people I have known for years have let me down.
The remarks about the 2,000 Baht rent have really demonstrated how people in Hua Hin town have been conditioned into paying high rents to live there.
2,000 is a good price, but buy the description I would think it is about right. Of course if it were in Soi Selekarm it would be 6,000 Baht at least.
BTW. You can grow your own potatoes, carrots and tomatoes once you get over the bypass. There are farmers doing it already. Also there is a Muslim village near the bypass where you can get potatoes. They use them in Curries.
There is a whole network of Thai lending that works more often than not. Occasionally borrowers take on too much.
However there is definitely an element who think that white skin means unlimited supplies of cash via ATM machines. So to borrow money from a farang is only using him to get access to his bottomless pit.
There is no urgency to pay back because he didn't lend the money in the first place. It came from an ATM.
I have always used the Tung Mai Mee position when asked, to avoid further discussion wit people I don't know.
As for lending money to farangs is concerned it is an absolute no no unless I know them very well. Even people I have known for years have let me down.
The remarks about the 2,000 Baht rent have really demonstrated how people in Hua Hin town have been conditioned into paying high rents to live there.
2,000 is a good price, but buy the description I would think it is about right. Of course if it were in Soi Selekarm it would be 6,000 Baht at least.
BTW. You can grow your own potatoes, carrots and tomatoes once you get over the bypass. There are farmers doing it already. Also there is a Muslim village near the bypass where you can get potatoes. They use them in Curries.
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