DSI threatens loan sharks seeking farmers’ evictions

By Piyanuch Thamnukasetchai 
The Nation

 

 

The Department of Special Investigation (DSI) is threatening to retroactively tax loan sharks who are trying to evict debtors from their homes.

 

 “Most of their victims are farmers,” DSI chief Pol Colonel Paisit Wongmuang said on Tuesday. 

 

He spoke after emerging from a meeting with 21 relevant authorities on how to help farmers who are on the verge of losing their land to lenders. 

 

During the past five years, alleged loan sharks have filed complaints against debtors in court to evict them from land plots used as collateral to secure loans. 

 

“The victims have entered into unfair contracts and risk losing their land,” Paisit said. 

 

Farmers from Khon Kaen, Maha Sarakham and Kalasin have called on the DSI for help. 

 

If loan sharks refuse to negotiate with victims and offer fair interest rates, his agency will ask the Customs Department to tax them retroactively, he said. 

 

Amnuay Patise, who chairs a committee on solving farmers’ debt problems, said there were 1,200 legal cases involving seven or eight loan-shark networks. 

 

“The government can help farmers by transferring their debts from loan sharks to the Government Savings Bank or the Bank for Agriculture and Agricultural Cooperatives instead,” he said. 

 

He added that relevant authorities expected to solve the problem within three months. 

 

Office of the Prime Minister’s deputy secretary-general Sompas Nilapund said the government might consider allocating land for farmers who had lost their plots to loan sharks. 

 

“These land plots are for them to make a living only,” he said. 

 

-- © Copyright The Nation 2017-11-14

2 minutes ago, snoop1130 said:

 

If loan sharks refuse to negotiate with victims and offer fair interest rates

 

How about take them to court for not offering fair interest rates?

 

The maximum interest rate is set by law.

Most loan sharks work with illegal rates and methods. Why not just let then loose the money, give back the papers, gold and land deeds to the farmer.
Put ém in jail too.

They should have an incorporated division of the "Untouchables"

It is a social and vital strategic responsibility, if not  a duty,  for any nation,  to protect the interests of it's farmers who feed the country.

These crooks are one of the causes of household debt, and all they get is taxed.....amazing Thailand.

5 hours ago, snoop1130 said:

Office of the Prime Minister’s deputy secretary-general Sompas Nilapund said the government might consider allocating land for farmers who had lost their plots to loan sharks. 

 

“These land plots are for them to make a living only,” he said. 

So they won’t own the land?

 

Just work it?

6 hours ago, snoop1130 said:

DSI threatens

So no action today, soon, later, not long, after food?

9 hours ago, BigBadGeordie said:

So no action today, soon, later, not long, after food?

Correct, who do you think will benefit from that situation

My guess would be the people at the top, much the same as in many other situations in Thailand

Dont hold your breath waiting for any genuine permanent change, however desperately its needed

9 hours ago, BigBadGeordie said:

So no action today, soon, later, not long, after food?

so, does LOS stand for Land Of Show or Land Of Scams ?

4 minutes ago, YetAnother said:

so, does LOS stand for Land Of Show or Land Of Scams ?

Either, or. But they are interchangable.

17 hours ago, janclaes47 said:

 

How about take them to court for not offering fair interest rates?

 

The maximum interest rate is set by law.

One of the ways loan sharks get around this is having those taking

the loans sign for a greater loan than they get but at the legal rate.

22 hours ago, coulson said:

These crooks are one of the causes of household debt, and all they get is taxed.....amazing Thailand.

Worked with Al Capone when all else failed. Quite a good move I think.

7 hours ago, Ulic said:

One of the ways loan sharks get around this is having those taking

the loans sign for a greater loan than they get but at the legal rate.

You know this how?

2 hours ago, tryasimight said:

Worked with Al Capone when all else failed. Quite a good move I think.

Al Capone didn't take his debtors to a legal courtroom. 

9 minutes ago, coulson said:

Al Capone didn't take his debtors to a legal courtroom. 

They got him eventually though. Death and taxes...the only certainties.

4 minutes ago, tryasimight said:

They got him eventually though. Death and taxes...the only certainties.

Syphilis must have been very taxing

15 minutes ago, coulson said:

Syphilis must have been very taxing

While I realise that there are a certain group of expats who are...well... lets say....mature I must admit I only saw the movie...however I  will defer your first hand knowledge of the matter..

Edited November 15, 20178 yr by tryasimight