Debt clinics will not clear your debts, only make payments easy: ministry

[webfact]

Debt clinics will not clear your debts, only make payments easy: ministry

By THE NATION

 

 

The Digital Economy and Society Ministry has warned people not to believe or spread rumours that the Bank of Thailand’s “Debt Clinic by SAM” will help pay off debts below Bt2 million.

 

The debt clinics have been organised in cooperation with Sukhumvit Asset Management (SAM).

 

“The ministry’s Anti-Fake News Centre contacted the Bank of Thailand to verify this information and was told it is not true,” the ministry said. “Under this campaign, SAM does not provide loans to people who have debts of less than Bt2 million.”

 

It explained that for each approved applicant, SAM will combine their debts from different sources, such as credit cards, cash cards and personal loans, into a single account. This deal only covers people who owe no more than Bt2 million in total.

 

“This will allow applicants to continuing paying their debts at a reduced rate of interest instead of paying several creditors, each of whom have their own interest rate,” it said.

 

Call the Bank of Thailand’s 1213 hotline or visit www.bot.or.th for more information. Fake news can be reported via www.antifakenewscenter.com.

 

Source: https://www.nationthailand.com/news/30397462

 

-- © Copyright The Nation Thailand 2020-11-06

 

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[RotBenz8888]

53 minutes ago, webfact said:

The Digital Economy and Society Ministry has warned people not to believe or spread rumours that the Bank of Thailand’s “Debt Clinic by SAM” will help pay off debts below Bt2 million.

 

Too late, the debtors have all gone on a shopping spree celebration after yesterday's good news.... 

[soi3eddie]

5 hours ago, webfact said:

“The ministry’s Anti-Fake News Centre contacted the Bank of Thailand to verify this information and was told it is not true,” the ministry said. “Under this campaign, SAM does not provide loans to people who have debts of less than Bt2 million.”

 

It explained that for each approved applicant, SAM will combine their debts from different sources, such as credit cards, cash cards and personal loans, into a single account. This deal only covers people who owe no more than Bt2 million in total.

 

Seems to be a contradiction in whether or not they offer loans to people with less than 2 million Baht. One line says not to less than 2 million and another line says only covers people who owe no more than 2 million in total? Which is it? Less or more than 2 million?

 

Either way it seems like a good business opportunity for Sukhumvit Asset Management (SAM) to offer loans at better rates than credit cards or other loans. What's in it for them? Does anyone know if security (such as land titles) is required as colateral? My betting is that they would want some security and could end up aquiring land/houses on defaults.

 

[djayz]

Sounds like a good idea. 

[samsensam]

The Digital Economy and Society Ministry has warned people not to believe or spread rumours that the Bank of Thailand’s “Debt Clinic by SAM” will help pay off debts below Bt2 million.

 

haha, yea, obviously. duh.

[connda]

So borrow more and more!

[Mike k]

On 11/6/2020 at 8:35 PM, soi3eddie said:

 

Seems to be a contradiction in whether or not they offer loans to people with less than 2 million Baht. One line says not to less than 2 million and another line says only covers people who owe no more than 2 million in total? Which is it? Less or more than 2 million?

 

Either way it seems like a good business opportunity for Sukhumvit Asset Management (SAM) to offer loans at better rates than credit cards or other loans. What's in it for them? Does anyone know if security (such as land titles) is required as colateral? My betting is that they would want some security and could end up aquiring land/houses on defaults.

 

I was thinking the same thing about the loans sounds like someone don't know their a** from a hole in the ground