It was reported two days ago that a man had filed a complaint with the Ministry of Interior’s Damrongdharma Centre seeking justice after claiming that a finance company had illegally sold his land without his notice.
Today the finance company in question has come out, with reams of documents, to counter the allegation.
According to Sith, Sithisorn, 51, a man from Doi Lor, a relative had asked him to cosign a loan to purchase a six wheeler truck, with Sith agreeing to put up the land and house his mother left him as collateral. When the relative failed to make payment and then was out of contact, Sith was left to negotiate with the finance company. According to Sith’s complaint earlier this week, he had mediated with the company on 3rd April, with the company agreeing to a payment plan as well as to not sell his house. But then Sith discovered that his house was sold in late May, hence the complaint.
According to Sith, the mediation agreed that the sum owed is at 204,169 baht, with Sith paying 10,000 baht in cash on 3rd April and a promise of a monthly payment of 3,000 baht.
It appears, now that the documents have been released, that the loan was initially taken out in 2013, with a total of 14 payments having been paid to date.
Both Sith and his relative had a court date in 2016, at which they both failed to appear. The company finally reclaimed the car that year, but say that because of depreciation, there is still money owed. However, because of the binding contract, the matter was sent to the courts and out of the company’s hands. The company said that it felt sorry for Sith and didn’t press the point at the time.
The company further revealed that they had sat down with Sith and restructured the loan twice already, once in 2017 and again in 2019, with not one single baht of payment having been made by Sith following either agreement.
When the letter was issued by the court for the land to be sold to cover the outstanding debt, the company said that it advised Sith to hire a lawyer and mediate with the court. Again, the company said, Sith failed to turn up at the court to make his argument.
It was at that time that an investor bought the land.
The company also said that it was very confused as at one point both Sith and the new landowner came into the company together demanding compensation for waste of time.
The company pointed to further documentation which showed that Sith’s land was also used as collateral to local banks, with over 600,000 baht lent off it. How it was used to hold up two loans wasn’t made clear.
Matters got more complicated when the company said that it agreed to pay the new owner 50,000 for waste of time as well as 30,000 baht it claimed wasted on court costs. The company finally agreed to pay the new owner the 50,000 requested because it felt sorry for Sith and it hoped that the new owner would allow him to live there until it developed it in the future.
The company then went on to say that Sith then came to the company to demand a 150,000 baht compensation for his wasted time. Since Sith still had monies outstanding to the company, it decided that it had had enough and that it why it came out today to explain the full situation.