I have received information that my gf father has a significant debt , around 1,5 mill thb.
He has borrowed this from the government where he is employed as teacher. He will retire in 3-4 years and has rather bad health.
My gf tells me he will have a good pension, and that he will be able to pay the debt down. I have my doubths about this.
Do anyone know what will happen with this debt when he dies? Will his children be responsible for his debt if his assets are unsuffissient to cover it ?

How fast can you run the quarter mile? Better yet, how fast can you get to the airport? Best of luck to you.

I am not being mean here, but these types of stories are way to common here. If legit, I hope somebody can help you. Definitely take the time to think. No offense. Nice guys get screwed here, everyday.

I am a good runner Thanks for the advice.

As I have discovered, this is guiet common situation.
The old man has 3 well-educated children, which might be an advantage.
I am taking time to think, thats why i ask for some advice from someone who know, or has experienced a similar situation.

I am well aware that i can not give my gf significant assets to her name. Such as house, car, money etc.
I have made absolutly clear what I can contribute with to the family in the future, and my gf has accepted that.
I think i will be able to handle the situation , but I wonder what I can expect after he is dead.

I have heard of teachers and government employees being allowed to take on debt (from the employer), but I don't know what happens to it when they die. I wonder do they have life assurance to go with it?

I certainly wouldn't be volunteering to pay it of though!!

OK pje, here you go.

My wife is a government officer so I asked her your question. She assured me that IF the teacher has a debt with the government - whether for a house, car, land, whatever - he could NOT obtain that loan without having insurance (also provided by the government). The insurance provided will be MORE than sufficient to pay back the loan and any remaining will be paid to the surviving family members.

Hope this puts your mind at ease.

Pakawala wrote:OK pje, here you go.

My wife is a government officer so I asked her your question. She assured me that IF the teacher has a debt with the government - whether for a house, car, land, whatever - he could NOT obtain that loan without having insurance (also provided by the government). The insurance provided will be MORE than sufficient to pay back the loan and any remaining will be paid to the surviving family members.

Hope this puts your mind at ease.

My wife concurs with the above statement. Additionally, my sister in law is a teacher and has a substantial government loan which is insured. I don't think you have to worry too much about getting "screwed" .

Confirmed again.

Wife's brother and sister are teachers and have previously had loans which they had to get insurance cover for.

Thanks a lot for your replys, easier to sleep now, and dont have to run

What an excellent post. An individual's problem, on a topic which could potentially affect a large number of forum members, was answered helpfully and factually by people who KNEW the answer (rather than speculated about things). All involved deserve a pat on the back as such things are surely the mainstay of the forum.

Once again, I can confirm that the above facts are correct, my wife is also a teacher, and the loans advanced to teachers, are normally supplied by the teachers
co-operative, which is a goverment sponsored organization, and as previously stated, these loans will not be given without more than adequate securities, and a minimum of Four garrantors, so I do not think you would have any worries

gulfman wrote:What an excellent post. An individual's problem, on a topic which could potentially affect a large number of forum members, was answered helpfully and factually by people who KNEW the answer (rather than speculated about things). All involved deserve a pat on the back as such things are surely the mainstay of the forum.

I totally agree, - constructive and informed answers, and it stayed on topic!!