Protecting Your ASSets in Thailand

[chitown]

With all the "tear in the beer" stories of being taken for a ride by the Thai wife, I have been thinking about a full proof way not to screwed in Thailand.

Many guys buy cars and motorbikes for cash. A lot of guys buy property and house outright as well.

I have been doing something since I have been here that has worked for me. I finance everything. I just got a loan in the wife's name for a new vehicle. Now, I am making the payments, but think it is money welll spent. If I rented a car, or took buses and trains everywhere, I figure I would spend the same or more.

The thing I am doing now is building her credit history she can buy a house on credit. Every month I run 25,000 baht through her account and take it out as we need it for expenses. I have set her up in a pretty lucrative business preparing VISA paperwork for Thais and al it cost me was the price of a desk top and a printer. She pulls in an average of 40,000 baht a month. We use some of this money for travel and she saves 50% to 75% of that each month. She is planning on using it for a down payment on property and a house. She will cover the down payment and I will make the payment. I would have to pay rent anyhow.

I feel this teaches her to save some dosh and it also does not empty my wallet out.

Also she will have to think twice about a break up because she would be left with the mortgage and car payments.

Anything else that you guys want to add to the "Protecting Your ASSets in Thailand" thread?

[Smeg]

I feel this teaches her to save some dosh.

Wouldn't anyone with a mental age of more than 10 know how to save already?

Also she will have to think twice about a break up because she would be left with the mortgage and car payments.

Not if she sells them or hands them back to the finance company

Anything else that you guys want to add to the "Protecting Your ASSets in Thailand" thread?

Yes. Aren't Thais lucky to have foreigners come to Thailand and help them live their lives in their own country.

[chitown]

^ Well, she knows how to spell escalator.

Do you know how to save? You have the mental age of a 10 year old from what I have seen here.

[watterinja]

I think you are very kind & have given her an opportunity that she may not otherwise have had.

My bitter lessons were learned in the first two years of being in Thailand.

After that, I purchased two motorbikes on credit - with the same view in mind, that if I left in the interim, they would be returned, or payments taken over by the gf. As it was, I had very inexpensive transport for 3 years - which balanced things out.

[Smeg]

^^ Funny guy.

I think you sound screwed up, insecure, and manipulative, trying to put your wife heavily in debt so she'd be too scared to end things if she feels the need to. It sounds like she is the one who needs to be protecting herself, not you.

[watterinja]

^ Smeg, it is one way to keep things on an even keel for many folks living in such a devious culture.

Hell, the Thais do the same with their mia's noi - they manage carefully the value of the sexual services delivered. The way of Asia.

[Smeg]

Yep, which is why I won't marry a Thai.

[watterinja]

^ Think of it as a form of long-term rental.

[chitown]

Smeg, I don't care what you or anyone else thinks. However I know you are a cock.

Most Americans do not know how save and I am speaking of those who are adults not 10 year olds.

If she hands it back to the finance company, then I do not care. I will not be responsible.

I have worked hard and smart to be retire before I am 40. Insecurity, manipulation, nor being screwed up have nothing to do with it. I am none of the above. I am smart. I have seen enough farangs go down the tubes after they cracked open their wallet to make high dollar purchases here.

[Smeg]

^But I'm smarter because I can control my dick and won't end up married to a Thai

I've sent nearly a million baht back to the UK, and that is where my assets will remain.

[chitown]

^ its a small task for you

[chitown]

^But I'm smarter because I can control my dick and won't end up married to a Thai

Smarter? Just remember when your old ass HAS to go teach English each morning, that I am relaxing and enjoying life.

[Spin]

Also she will have to think twice about a break up because she would be left with the mortgage and car payments.

Economic prisoner, this is romance, Thai style

Funnily enough though, were I in the same position as you I would do everything you do, and then some.

[chitown]

^But I'm smarter because I can control my dick and won't end up married to a Thai

Yeah, its too bad they do not allow gay marriage in the UK or you could.

[Spin]

I will not be responsible.

But you are married to the person in debt. I would check your exact position, from a legal standpoint before assuming immunity from debt collectors.

[chitown]

^ The Thai lender can't even find their own skips in country. So I am not worried!

[watterinja]

If you are married legally in Thailand, the lenders can come to you & expect reimbursement, even if you have since been divorced.

In fact, they will go to anyone they can find in the family who can be pressed to settle the debt.

I know of a case where two foreigners (husband & a friend) were dragged off to the police-station & had to beg on their hands & knees in front of laughing policemen - all for a debt the man's Thai wife had run up. The friend was forced to plead because he tried to defend his friend.

[Thetyim]

In fact, they will go to anyone they can find in the family who can be pressed to settle the debt.

True. What amazes me is that the thai pay up.
The collectors will talk to the neighbours about how the family is in debt and the family coughs up rather than lose face.

[Texpat]

The fundamentals of managing money are the same if you're in Minnesota or on the moon.

Guys that are destined to "be taken" by Thai girls would only hand it over to gals from Manchester or Memphis under different circumstances.

I think I would have to be in dire straits to take a loan from a Thai bank.

Do what you're comfortable doing and for god's sake, don't whine on an Internet forum if you're stupid and get hosed.

[barbaro]

With all the "tear in the beer" stories of being taken for a ride by the Thai wife, I have been thinking about a full proof way not to screwed in Thailand.

Only losers get screwed. I've met many.

Many guys buy cars and motorbikes for cash. A lot of guys buy property and house outright as well.

Why buy?

I feel this teaches her to save some dosh and it also does not empty my wallet out.

How old is she?

She's an adult. If you gotta teach her, it's too late.

Also she will have to think twice about a break up because she would be left with the mortgage and car payments.

So, you're playing that game. Let me guess. You are older than her - a lot older.

Anything else that you guys want to add to the "Protecting Your ASSets in Thailand" thread?

Keep your assets in your home-country. That way it'll never be stolen from you.

Then, enjoy the good life in LOS or anywhere else.

[Texpat]

Keep your assets in your home-country. That way it'll [sic] never be stolen from you.

To the extent possible, I agree with the first sentence. The second sentence is a joke, right?

[chinthee]

Ever hear of the IRS, and to a lesser extent Inland Revenue?

[barbaro]

Keep your assets in your home-country. That way it'll [sic] never be stolen from you.

To the extent possible, I agree with the first sentence. The second sentence is a joke, right?

I know guys that keep the high majority of their money, and RE in their home-country.

They live in LOS.


(P.S., why is that a [sic])?

[barbaro]

Ever hear of the IRS, and to a lesser extent Inland Revenue?

Keep the books straight and there isn't a problem with the IRS.

[chinthee]

Home country is not the answer if you're American or being hounded by Inland Revenue or other agencies...but that's beyond the scope of this conversation.