Anti-Loan Sharks Campaign Means No Waiver Of Debt

[webfact]

 

THE PHEU THAI-LED GOVERNMENT’S all-out campaign against illicit, informal money lending will by no means result in any waiver of debt but will foster compromise and negotiations between loan sharks and those who currently owe them, according to Deputy Prime Minister-cum-Interior Minister Anutin Charnvirakul.

 

Anutin pointed out today (Dec.1) that no debt, albeit being illegal, is going to be written off but to be settled in whole by way of compromise and negotiations between the loan shark and the indebted people with the authorities acting as mediators.

 

The interior minister called on all loan sharks who may have charged an incredibly high interest rate for their loans to agree to lower it to a fair level so the people could completely repay their debt.

 

The interior minister assured that nobody will be arrested or faced with criminal charges only because they are a loan shark on condition that they show up and negotiate a debt settlement agreement with the debtee.

 

By Thai Newsroom Reporters

Deputy Prime Minister-cum-Interior Minister Anutin Charnvirakul talking to reporters. Top photo: Thai Rath

 

Full story: THAI NEWSROOM 2023-12-02

 

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[OneMoreFarang]

Loan sharks wouldn't exist on the scale they exist in Thailand if many so called authorities wouldn't be involved in that business.

When police officers are working with the loan sharks who will police them?

But then, it's not only loan sharks.

It's almost funny when Thai politicians pretend they don't know that.

 

[2baht]

Lowlife grubs!

[mikebell]

2 hours ago, webfact said:

will by no means result in any waiver of debt but will foster compromise and negotiations between loan sharks and those who currently owe them,

Loan shark negotiation; 'we'll cut off a finger or toe for every day you are late with repayment but you get to choose which.'

[bradiston]

The loan sharks are no doubt well connected to the local mafia who probably take a cut. So of course Dr Death says he will do nothing against them, but will negotiate! Yet they are criminals, and what they're doing IS ILLEGAL! GEDDIT? Cancel the stupid 500 billion THB steal - what's the point when you have a 50,000 THB @ 10% pm illegal loan, and in stead sort out people's debts. Cancel any illegal loans, obviously, force them to repay all payments to date, and bang up the shark in his shark cage for all to jeer and throw rotten tomatoes at. Public shaming. What Thais fear more than anything. And guarantee immunity from defamation. Proper crack down!

Edited December 2, 2023 by bradiston

[hotchilli]

8 hours ago, webfact said:

THE PHEU THAI-LED GOVERNMENT’S all-out campaign against illicit, informal money lending will by no means result in any waiver of debt but will foster compromise and negotiations between loan sharks and those who currently owe them, according to Deputy Prime Minister-cum-Interior Minister Anutin Charnvirakul.

Why do I get the feeling this isn't going to end well?

[John Drake]

9 hours ago, webfact said:

The interior minister assured that nobody will be arrested or faced with criminal charges only because they are a loan shark on condition that they show up and negotiate a debt settlement agreement with the debtee.

 

PTP just makes things up as they go along. Need money for the dodgy digital wallet? Shazam! Create an income tax on foreigners out of thin air. Instead of going in and cleaning up the organized crime surrounding loan sharks, just go poof! and make everybody magically negotiate. Ought to tell loan sharks to clear all debts and get out of the business or face 30 years on a chain gang.

[GregBow]

2 hours ago, bradiston said:

The loan sharks are no doubt well connected to the local mafia who probably take a cut. So of course Dr Death says he will do nothing against them, but will negotiate! Yet they are criminals, and what they're doing IS ILLEGAL! GEDDIT? Cancel the stupid 500 billion THB steal - what's the point when you have a 50,000 THB @ 10% pm illegal loan, and in stead sort out people's debts. Cancel any illegal loans, obviously, force them to repay all payments to date, and bang up the shark in his shark cage for all to jeer and throw rotten tomatoes at. Public shaming. What Thais fear more than anything. And guarantee immunity from defamation. Proper crack down!

Per day @ 5% I was told. The 10% per month is jai dee. And supported as you say. Big words will not take local action.

HiLo and carc games lend over the table at 10% on the night.

All have "support" and pay fees.

I cannot see how it can be stopped

[Tequila makes me happy]

The debts will not be waived. Don't these clowns realize an illegal contract is not enforcable? 

[digger70]

11 hours ago, webfact said:

Anutin pointed out today (Dec.1) that no debt, albeit being illegal, is going to be written off but to be settled in whole by way of compromise and negotiations between the loan shark and the indebted people with the authorities acting as mediators.

 

11 hours ago, webfact said:

The interior minister assured that nobody will be arrested or faced with criminal charges only because they are a loan shark on condition that they show up and negotiate a debt settlement agreement with the debtee.

This is absurd, loansharking is Illegal.

But then if the loansharks working for the govment or cops or the cops are running the show they can do what they want and not get arrested and or go to jail.

[ukrules]

Not only should all debts be cancelled but the low life scum criminals who offer this type of service should be serving long prison sentences rendering the debt completely unservicable.

 

Anything less than this means the government is partnering up with the illegal businesses.