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Money borrowing can be called a national problem in everyone’s mind and make us feel uncomfortable every time when we are asked to borrow money whether we are asked by our relatives or other people. Sometimes we let them borrow because we trust them. However, when it’s time to return the money, we nearly have to beg them to return. We sometimes let someone borrow the money without making any contract since we trust in each other. Money borrowing can break the relationship apart. Anyone facing this problem should read this article.
It’s time for the creditors to have power. Is there anyone try to collect debts over and over again but still does not have the money back but
when they come to borrow, they promise to return on a certain date? This is another cause that broke the relationship many times. If we want to report it, but we don’t get the other party to sign a loan agreement, we can report it but only in journalism for evidence in civil proceedings.
Even if we can’t report it, we can sue debtors to collect money from them.According to the Civil and Commercial Code, Section 653 paragraph 1 stipulates that borrowing 2,000 baht or more using evidence in a lawsuit against the court is 2 types:
In the loan agreement, it will specify the name of the agreement, date and time of the contract, and details of the loan are provided in the loan agreement such as real name – last name, address, phone number, agreement on return date, total amount of loan as well as signed by both lender and borrower.
The borrower can use evidence of chat, such as conversations between the borrower and the lender on social media, transfer evidence, etc. This evidence can be used in court lawsuits under the Electronic Transactions Act B.E. 2549.
In addition, if a lawsuit has been filed against the court, debtors who have not paid their due amount and have behavior related to the transfer of assets to avoid paying debts may be guilty of Section 350 with imprisonment for not more than 2 years or a fine of not more than 40,000 baht. The term of litigation under the loan agreement shall be 10 years from the due date of payment. In case the debtor is unable to pay back due to insufficient funds, the creditor needs to find out where the debtor lives, works, and what assets are for the court to seize assets for auction.
