Police step up measures to stamp out informal debt in Udon Thani

[rooster59]

Police step up measures to stamp out informal debt in Udon Thani

Nuppol Suvansombut

 

 

UDON THANI, 20th July 2018, (NNT) - Police in Udon Thani have dispatched a caravan of officials to inspect informal loan operation venues, in a bid to eradicate the issues of informal debt and to ensure fair loans are available in the province. 

 

Chairing the departure ceremony were Pol Lt Gen Surachai Kuandachacupt, the Commissioner of Provincial Police Region 4, Pol. Maj. Gen. Surachet Hakpal, the Deputy Commissioner of the Tourist Police and the Commander of the Technology Crime Suppression Division and other officials. 

 

The move came after officials recently received complaints about major informal loan providers in the region offering loans with an interest rate higher than the law permits. 

 

Pol Lt Gen Surachai said today that the officials have inspected fifteen operational venues of seven major informal loan providers. He said all of the operators cooperated with officials during their inspection, while adding that the examination will be extended to other loan providers as well. 

 

Pol. Maj. Gen. Surachet revealed that the operation is in accordance with the Government’s policy to address the household debt issue, especially in the northeastern region, which saw a high number of complaints concerning the matter. 

 

He also assured loan providers that all parties involved will be treated fairly. He warned the lenders that the administration is serious about stamping out illegal loans. Pol. Maj. Gen. Surachet is confident, that with the Government’s concrete measures addressing informal debt, the issue will be significantly decreased in the Northeast.

 

 

 

-- nnt 2018-07-21

[George Bowman]

2 hours ago, rooster59 said:

He warned the lenders that the administration is serious about stamping out illegal loans.

Looks like he is serious. He already has many of the lenders standing in formation.

[Juan B Tong]

Informal loan providers.

 

Nice way to put it.

[neeray]

In some countries, they are called "predator lenders". A small 3 figure loan can readily turn into a 4 figure debt (substantial 4 figures!) if not retired within the agreed terms. These "lenders" use other fees to boost the amount owing, not just the exorbitant interest charged. Thus, the moniker of "predator lenders" is well earned.

[Rally123]

There will always be a need for illegal money lenders. When yer ass is against the wall, in requiring money, you'd source it from the devil himself if need be.  The story above has been done many times before. Just another 'feel good' exercise to get the population to believe that someone really cares for them. I'm sure these illegal money lender operate openly with the full cooperation of the police.