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Best option is to Pay-Up. But before you pay go to talk to the bank and negotiate a better deal.
In other words - you can strongly negotiate down to the original amount and let them scrap the interest.
Banks are flexible when their options is between nothing and something.
Failure to pay might cause a complaint of Fraud (which is the case if you spend money you do not have).
Their arguement in court will be that;
"If you can afford to fly to Thailand and back home, then howcome you can't afford to pay your account."
Should you choose not to pay and go back home, it would be better not to come to Thailand for at least 10 years;
that is sort of the 'Satue of Limitation' on private debts.
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In Topic: Unpaid Credit Card
2012-01-18 12:44:29
In Topic: Thaksin 'Clone' Set To Be Thai PM
2011-07-04 20:46:36
Thaksin accused of stealing his own money ??
What exactly is the so called case of fraud, stealing, etc against Thaksin? I am sure most readers here do not even have the slightest clue!
When Thaksin came to office in 2001 he declared personal and spouse's assets to the value of Tb 15 billion. Most of that were 49.6% assets in Shin Corp.
That was AFTER he donated a majority of assets and investments to his ADULT children, other family members and associates - BEFORE he took up office as Prime Minister.
In the 2006 presentation the Military claimed his FAMILY assets was exceeding Tb 76 billion - claiming he became unusually rich during time in office.
His wealth grew because SHIN CORP grew exponental. Google "Shin Corp" and read a bit of how phenomenal their growth was. At that time AIS was part of Shin Corp under management of PM Yingluck Shinawatra!
So let us make a sum here: He had 49.6% shares remaining in Shin Corp. Shin Corp was sold for 73 Billion Baht in 2006. At that time, as is today still the same - Capital gains on company assets, land etc are not taxable in Thailand. Now, 49% of 74 billion is Tb 35.77 billion; add in the 15 billion he did retain in the beginning and the total is a round 50 billion. By the time of the court case the exchange rate was lower, money was not brought to Thailand and the so called fraud value of Tb 46 billion was applied. Much depends on what value of Tb/Forex you want to apply in this case.
How come the court case then? The military controlled regime made slight changes to the Revenue Law lat in 2006 - and under such changes Thaksin was found guilty. Even though those changes were made to the law AFTER he was already accused and couped. TiT. In worst case scenario, realistically if they really pushed the waggon maybe somehow they could claim he had to pay tax - and tax in this scase would be 30% of the profits - not capital gain, but give in to that - the amount wuld not be more than maybe 3 billion baht. Small change for Thaksin!
So what about the future?
I do not think Thaksin will return sooner than 18 months, probbaly only towards end 2013 (if we survive 2012).
There will not be a 'pardon' but I expect there will be new court cases, proper investigations by outside entity and a not-guilty verdict. PM Lingluck will remain her term, Thaksin will stand for the new elections in 2016 - if he is still alive and healthy enough in five years.
What exactly is the so called case of fraud, stealing, etc against Thaksin? I am sure most readers here do not even have the slightest clue!
When Thaksin came to office in 2001 he declared personal and spouse's assets to the value of Tb 15 billion. Most of that were 49.6% assets in Shin Corp.
That was AFTER he donated a majority of assets and investments to his ADULT children, other family members and associates - BEFORE he took up office as Prime Minister.
In the 2006 presentation the Military claimed his FAMILY assets was exceeding Tb 76 billion - claiming he became unusually rich during time in office.
His wealth grew because SHIN CORP grew exponental. Google "Shin Corp" and read a bit of how phenomenal their growth was. At that time AIS was part of Shin Corp under management of PM Yingluck Shinawatra!
So let us make a sum here: He had 49.6% shares remaining in Shin Corp. Shin Corp was sold for 73 Billion Baht in 2006. At that time, as is today still the same - Capital gains on company assets, land etc are not taxable in Thailand. Now, 49% of 74 billion is Tb 35.77 billion; add in the 15 billion he did retain in the beginning and the total is a round 50 billion. By the time of the court case the exchange rate was lower, money was not brought to Thailand and the so called fraud value of Tb 46 billion was applied. Much depends on what value of Tb/Forex you want to apply in this case.
How come the court case then? The military controlled regime made slight changes to the Revenue Law lat in 2006 - and under such changes Thaksin was found guilty. Even though those changes were made to the law AFTER he was already accused and couped. TiT. In worst case scenario, realistically if they really pushed the waggon maybe somehow they could claim he had to pay tax - and tax in this scase would be 30% of the profits - not capital gain, but give in to that - the amount wuld not be more than maybe 3 billion baht. Small change for Thaksin!
So what about the future?
I do not think Thaksin will return sooner than 18 months, probbaly only towards end 2013 (if we survive 2012).
There will not be a 'pardon' but I expect there will be new court cases, proper investigations by outside entity and a not-guilty verdict. PM Lingluck will remain her term, Thaksin will stand for the new elections in 2016 - if he is still alive and healthy enough in five years.
In Topic: Thaksin 'Clone' Set To Be Thai PM
2011-07-04 20:36:29
SHINAWATRA FAMILY WEALTH
It seems to me many posters here has it against Shinawatra money. They so called getting rich from fraud etc. Nobody cared to take a reality look, so let me offer you one issue. I am talking to those who actually do spend some time in Thailand. Here are some simple numbers:
AIS - Original first Thai mobile phone operator.
During 2004 their subscriber base was around 16 million users; in 2009 it was more than 28 million.
I know how often Thai's use their phones; but for the sake of this example let us say on general only 50% of the users only use their phone for one call in any 24 hour period. In 2004 that would be 8 million calls, then the rate was Bt 6 per call (1-2-Call). Income to AIS per day in excess of Tb 48 million per day;
Tb 1,4 billion per month and more than Tb 17 billion per year. The Shinawatra family, on that stage - owned about 48% of AIS. We all know the phone calls were much higher in number, but that I can't find in published material.
AIS were not the only money making business this family had; they are Old-Money, major property developers in Bangkok and Chiangmai for generations and has a number of other business activities and share holdings. There were also major shares in Air Asia, Shin Satellite (aka SATTEL/ THAICOM). Shin Sat launched their first SAT into orbit in 1993, #2 in 1994, #3 in 1997, iPSTAR was launche din 1005, ThaiCom #5 in 2006 . . .
ITV - yes that one even you can watch in English sometimes was established by Shin Corp in 1995, SC Matchbox Co. Ltd since 1991. To cut short the other names which you can find on Thai Stock exchange are ITAS, TMC, ADV, Shinee, MERRY STAKE and more.
Shin Corp (Holding co of AIS) was sold to Singapore Temasek Holdings in January 2006 for more than 73 billion baht (US$ 1.88 Bln at rate then of Tb39.12). Sale was because accusations of Thaksin's 'conflict of interest' and that sale to a non-Thai company caused a lot of conflict. Eventually it leads to the military coup, accusations of fraud and confiscations of money.
Guess how come Thaksin Shinawatra got his family money growing exponental? Oh and the so called corruption charges once against PM Yingluck was because she was accused of insider trading when she sold her shares in Shin Corp in 2006 - to Singapore! Why was the case thrown out of even the Abhisit ruled court? Any trader selling/buying less than 5% total shares can't be accused of insider trading.
How much shares did Lingluck Shinawatra own and sell? 0.68% of Shin Corp.
It seems to me many posters here has it against Shinawatra money. They so called getting rich from fraud etc. Nobody cared to take a reality look, so let me offer you one issue. I am talking to those who actually do spend some time in Thailand. Here are some simple numbers:
AIS - Original first Thai mobile phone operator.
During 2004 their subscriber base was around 16 million users; in 2009 it was more than 28 million.
I know how often Thai's use their phones; but for the sake of this example let us say on general only 50% of the users only use their phone for one call in any 24 hour period. In 2004 that would be 8 million calls, then the rate was Bt 6 per call (1-2-Call). Income to AIS per day in excess of Tb 48 million per day;
Tb 1,4 billion per month and more than Tb 17 billion per year. The Shinawatra family, on that stage - owned about 48% of AIS. We all know the phone calls were much higher in number, but that I can't find in published material.
AIS were not the only money making business this family had; they are Old-Money, major property developers in Bangkok and Chiangmai for generations and has a number of other business activities and share holdings. There were also major shares in Air Asia, Shin Satellite (aka SATTEL/ THAICOM). Shin Sat launched their first SAT into orbit in 1993, #2 in 1994, #3 in 1997, iPSTAR was launche din 1005, ThaiCom #5 in 2006 . . .
ITV - yes that one even you can watch in English sometimes was established by Shin Corp in 1995, SC Matchbox Co. Ltd since 1991. To cut short the other names which you can find on Thai Stock exchange are ITAS, TMC, ADV, Shinee, MERRY STAKE and more.
Shin Corp (Holding co of AIS) was sold to Singapore Temasek Holdings in January 2006 for more than 73 billion baht (US$ 1.88 Bln at rate then of Tb39.12). Sale was because accusations of Thaksin's 'conflict of interest' and that sale to a non-Thai company caused a lot of conflict. Eventually it leads to the military coup, accusations of fraud and confiscations of money.
Guess how come Thaksin Shinawatra got his family money growing exponental? Oh and the so called corruption charges once against PM Yingluck was because she was accused of insider trading when she sold her shares in Shin Corp in 2006 - to Singapore! Why was the case thrown out of even the Abhisit ruled court? Any trader selling/buying less than 5% total shares can't be accused of insider trading.
How much shares did Lingluck Shinawatra own and sell? 0.68% of Shin Corp.
In Topic: Thaksin Allies In Thai Election Landslide: Exit Polls
2011-07-04 17:08:34
janverbeem, on 2011-07-04 06:58:35, said:
Aromaz, on 2011-07-04 06:10:32, said:
If you believe so much in the goodness and clever governing of the Shinawatra clan then maybe you could take a look at the inserted link below,and wake up.
http://www.jubileeso..._3/thailand.htm
Maybe it is you that should wake up? Your own reference is dated 2001 - that is one full year BEFORE Thaksin came into power.
Two years later the debt was reduced by about 30 % and four years later it was PAID OFF - while Thaksin was in power.
In Topic: Thaksin Allies In Thai Election Landslide: Exit Polls
2011-07-04 06:10:32
VIVA Yingluck Shinawatra ! ! !
I think many people here make the same mistake the EX-prime minister made. Folks, believe me Yingluck Shinawatra is a very strong minded business woman (as are most Thai women). do not underestimate this Tungsten Lady; and for campaign promises - she is going to do exactly as her older brother did - she is going to make it happen!
I came to Thailand soon after the economic collapse of 1997/1998. My first impression driving along the highways of Bangkok was that of countless buildings incomplete, somewhat looking like a war zone. The baht was trading at 47.00 to the US$, unemployment was massive since huge factories that employed thousands of workers closed down. Thailand, as with all ASEAN countries were in deep financial sh....
Thaksin came to power in 2001, I have lived here through the periods when Thaksin pulled Thailand out of that IMF debts. I remember the Amazing Thailand campaign; but for me it was amazing that Thailand paid its debts to the IMF off in 2006 - long before any of the others were even able to start paying back; and two years ahead of schedule. To this date Thailand and Singapore are the only two countries that paid their debts off. Since 2004 Thaksin embarked on a campaign to eradicate poverty; what he did for the man-on-the-street was amazing.
Unfortunately that was not loved by the Elite; lifting poverty will also result in educated general population and that will be threat to their comfortable lives. Thus they had to get him out, by whatever means, even if it means they have to replace high court judges.
Thus I do not care if Yingluck Shinawatra is a proxy or only being guided by her older brother. I can only see one good thing coming to Thailand.
It is remarkable when I look back on this past 12 years in Thailand to notice, during this past FIVE years of wrong government, how little was achieved when comparing it to the fast paced six years of S. Thaksin!
As for the political 'inexperienced sister'. This whole strategy of her party, brother's advice and time frame was a magnificent political move. Their opponents were completely caught off-guard, pants down. More than anything else I love her campaign; NEVER did she attack Abhist! It was a clear, clean, no-mud-or-pie-in-the-face-insults from her.
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