Chart Pattana Kla Party Proposes Credit Sorting to Address Debt

[snoop1130]

 

BANGKOK (NNT) - The Chart Pattana Kla Party is proposing the ‘Credit Sorting’ system to address chronic debt issues in Thailand.

 

Korn Chatikavanij, Chart Pattana Kla party leader, made the proposal while explaining that it is more productive to remove the ‘blacklist’ system of National Credit Bureau Company Limited.

 

He also said more Thais than ever are facing debt issues, especially given the current economic environment with higher living costs that have been exacerbated by the pandemic.

 

Korn noted that the ‘Credit Sorting’ system will evaluate each individual’s financial status using his or her actual related information. The information includes utility bills, mobile phone bills, and other financial burdens, not limited to debts. He said the Credit Sorting system would prevent debtors from resorting to illegal loan providers.

 

Korn added that introducing the new system and removing the blacklist system is a viable way to address the debt issue without needing any budget or abolishing the National Credit Bureau.

 

According to the party, 5.5 million people are currently being blacklisted, 3.2 million of which received the status during the height of the pandemic.

 

Korn said abolishing the blacklist system will allow banks to offer more loans at lowered costs and in a more impartial manner.

 

Source: https://thainews.prd.go.th/en/news/detail/TCATG230117130205859

 

-- © Copyright NNT 2023-01-17

 

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[RichardColeman]

13 hours ago, snoop1130 said:

will allow banks to offer more loans at lowered costs and in a more impartial manner.

and create even more debt

[hotchilli]

14 hours ago, snoop1130 said:

He also said more Thais than ever are facing debt issues, especially given the current economic environment with higher living costs that have been exacerbated by the pandemic.

The governments heavy handed way of dealing with the pandemic hurt the people.

The governments lack of commercial enterprise has hurt the people

The governments lack of curbing inflation has hurt the people.

The governments lack of everything has hurt the people.

Time the government got booted out.

[hotchilli]

1 hour ago, RichardColeman said:

and create even more debt

Debt is a debt that has to be re-paid.. whether by students or adults.

Going to an authorised bank, looking at individuals financial status and restructuring affordable debt repayment is the only way forward.

[zzaa09]

49 minutes ago, hotchilli said:

The governments heavy handed way of dealing with the pandemic hurt the people.

The governments lack of commercial enterprise has hurt the people

The governments lack of curbing inflation has hurt the people.

The governments lack of everything has hurt the people.

Time the government got booted out.

Eat the rich!

Off with all their bladdy heads!!

[lujanit]

20 hours ago, snoop1130 said:

He also said more Thais than ever are facing debt issues, especially given the current economic environment with higher living costs that have been exacerbated by the pandemic.

Rubbish.  Thais have always been up to their eyeballs in debt.  Nothing to do with covid.  Easy loans for government employees, including the BIB are part of the reason.  Plus Thais have no problem going to loan sharks when all other avenues are closed to them.