rooster59 Posted August 18, 2018 Share Posted August 18, 2018 PM Prayut vows to get rid of informal debts Branding informal debt as an evil, Prime Minister Prayut Chan-o-cha said last night he could not afford to let unscrupulous money lenders take advantage of their poor debtors and vowed to press on with the government’s effort to solve the informal debt problem. In his weekly nation-wide address, he cited a government’s survey which showed that about 900,000 people, mostly low-income earners, are owing some 52 billion baht in informal debts to about 18,000 creditors. However, he said that since July when the government launched an all-out attempt to resolve the informal debt problem, it managed to work out compromise agreements with many creditors who agreed to restructure their informal debts with more than 200,000 debtors. Full story: http://englishnews.thaipbs.or.th/pm-prayut-vows-to-get-rid-of-informal-debts/ -- © Copyright The Nation 2018-08-18 Link to comment Share on other sites More sharing options...
Popular Post darksidedog Posted August 18, 2018 Popular Post Share Posted August 18, 2018 11 minutes ago, rooster59 said: PM Prayut vows to get rid of informal debts 12 minutes ago, rooster59 said: it managed to work out compromise agreements with many creditors who agreed to restructure their informal debts So he is not getting rid of the debt then, just restructuring the payments. They still owe the money, so other than being a vote grabbing headline, I see little truth in it. 6 2 Link to comment Share on other sites More sharing options...
Popular Post marko kok prong Posted August 18, 2018 Popular Post Share Posted August 18, 2018 My freinds wife wanted to buy some land,they went to the main money lender in the village a Thai-chinese man,,my friend said he had a large box file with over a hundred land title's he had seized from people who had loaned money from him and where unable to pay it back,very prevelant in rural area's. 4 1 Link to comment Share on other sites More sharing options...
Popular Post Cadbury Posted August 18, 2018 Popular Post Share Posted August 18, 2018 1 hour ago, rooster59 said: PM Prayut vows to get rid of informal debts A most admirable intention as are most of his intentions. However his track record of achievement in fulfilling such promises is lamentable. Since 2014 he has made countless promises of specific actions and almost all of them could be judged as failures. From the micro-managing of lotteries and pavements through to more serious matters such as education reforms. His only achievements ever seem to be the formation of committees to deal with these impulsive ideas but after that nothing seems to happen. While I hope he does achieve something for these people I suspect this is just another instance of single issue navel gazing plus a bit of none too subtle electioneering. 5 Link to comment Share on other sites More sharing options...
kannot Posted August 18, 2018 Share Posted August 18, 2018 2 hours ago, rooster59 said: 900,000 people, mostly low-income earners,VOTERS are owing some 52 billion baht in informal debts to about 18,000 creditors. hmm???? 2 Link to comment Share on other sites More sharing options...
Popular Post Bluespunk Posted August 18, 2018 Popular Post Share Posted August 18, 2018 (edited) 2 hours ago, rooster59 said: However, he said that since July when the government launched an all-out attempt to resolve the informal debt problem, it managed to work out compromise agreements with many creditors who agreed to restructure their informal debts with more than 200,000 debtors. Excellent. My mate lent me 3000 baht last night. Can the govt have a word with him about letting me off repaying it? Edited August 18, 2018 by Bluespunk 1 5 Link to comment Share on other sites More sharing options...
Chang_paarp Posted August 18, 2018 Share Posted August 18, 2018 I think every PM for the last decade or two has made the same promise with the same success. Lets hope article 44 works like a magic wand. 1 Link to comment Share on other sites More sharing options...
Happyman58 Posted August 18, 2018 Share Posted August 18, 2018 One good idea would be to stop Thais from buying the latest pick-up or cars which they cannot afford. But good to see he actually cares for poor people haha by leading by example when a Thai minister travels overseas no expense is being spared 2 Link to comment Share on other sites More sharing options...
BestB Posted August 18, 2018 Share Posted August 18, 2018 All he is doing is encouraging all who borrowed to dob in the lenders. all this will do is increase crime rate drastically , unless he thinks lenders will just walk away loosing money. Then in a month later same somchai will need to borrow money again and if unable would most likely steal or do something stupid . enforcing laws only works when people mentality has changed. Link to comment Share on other sites More sharing options...
BestB Posted August 18, 2018 Share Posted August 18, 2018 10 minutes ago, Happyman58 said: One good idea would be to stop Thais from buying the latest pick-up or cars which they cannot afford. But good to see he actually cares for poor people haha by leading by example when a Thai minister travels overseas no expense is being spared Those who buy latest pick ups borrow from banks , not the money lenders also known as loan sharks. They keep bringing up high interest rates, forgetting one major fact, which is these are unsecured loans . What’s the rate from the bank for credit card? 25%-28% or an unsecured loan with no proof of income ? Just about the same 1 Link to comment Share on other sites More sharing options...
yellowboat Posted August 18, 2018 Share Posted August 18, 2018 Wow he is going to be busy: traffic elevation, eradicating poverty, and not ridding the land of money lenders. When will he walk on water I wonder ? 1 Link to comment Share on other sites More sharing options...
Popular Post worgeordie Posted August 18, 2018 Popular Post Share Posted August 18, 2018 Looks like another populist policy in the making ,you just have to try every way to get the people to like and vote for you....using taxpayers money of course . regards worgeordie 2 1 Link to comment Share on other sites More sharing options...
jerojero Posted August 18, 2018 Share Posted August 18, 2018 Sell some family watches, distribute the millions Baht to the poor? Nah, brother needs to tell time and f.the poor. 2 Link to comment Share on other sites More sharing options...
SABloke Posted August 18, 2018 Share Posted August 18, 2018 5 hours ago, Bluespunk said: Excellent. My mate lent me 3000 baht last night. Can the govt have a word with him about letting me off repaying it? 3,000? Sounds more like a gift to me. You're off the hook.? Link to comment Share on other sites More sharing options...
Get Real Posted August 18, 2018 Share Posted August 18, 2018 9 hours ago, darksidedog said: So he is not getting rid of the debt then, just restructuring the payments. They still owe the money, so other than being a vote grabbing headline, I see little truth in it. No, and that is something he shouldn´t do. If he make them restructure the debts and work with a normal interest it´s perfectly okey. They have borrowed the money, which is same like taking out a loan. A loan have to be payed back. Link to comment Share on other sites More sharing options...
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