A total of 37,579 people, who claim to have incurred about Bt1.5 billion in informal debt with 19,061 creditors, have applied for help from the state in the first two days of the informal debt settlement program, said Suttipong Juljarern, the permanent secretary of the Interior Ministry, on Sunday.

 

The five provinces with the largest number of applications filed are:

 

Bangkok: 2,496 applications, Bt131.8 million owed to 1,492 creditors
Songkhla: 1,610 applications, Bt72.3 million owed to 794 creditors
Nakhon Si Thammarat: 1,489 applications, Bt49.7 million owed to 826 creditors
Nakhon Ratchasima: 1,441 applications, Bt61.8 million  owed to 638 creditors
Samut Prakan: 965 applications, Bt38.5 million owed to 485 creditors

Suttipong urged informal debtors, who are yet to apply for help, to do so in person at their provincial hall or district office, including those in Bangkok, or online via https://debt.dopa.go.th.

Alternatively, they can seek consultation by calling the Damrongtham Centre on 1567.

 

Full story: Thai PBS 2023-12-04

 

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I wonder if the banks have enough money to fund this promise?

I can understand many debtors wanting to take out a favourable loan to get the sharks off their back...  but did the banks know the depth of the problem?

43 minutes ago, hotchilli said:

I wonder if the banks have enough money to fund this promise?

I can understand many debtors wanting to take out a favourable loan to get the sharks off their back...  but did the banks know the depth of the problem?

"in informal debt with 19,061 creditors " the operative word being "Informal"

Debt to banks is formal 

The way I understand it. There is no promise to help pay of the debt, only to act  a mediator between the borrower and the lender and reduce the interest rate to  at least,  at or below the legal interest rate limit of 20% 

Edited December 4, 20232 yr by sirineou

There will be many Thousands of Debtors who are afraid to register for help

They will have borrowed from their Local Community loan Sharks ands will not want any serious repercussions for the fall out, or wish to loose face

6 hours ago, webfact said:

19,061 creditors

AKA Loan Sharks.  Some day soon there will be an RTP blitz on these (unless there are RTP names on it).

Edited December 4, 20232 yr by mikebell
spelling mistake.

The Government can't solve the problem. They have to take measures to stop this scam of debt creating. I know for example a dealer in cars sells a car to a young boy barely 20 with no drivers license and no steady income. His income was 15k a month, but he could buy a car fully financed and with a monthly payment of 8k a month!!! He has a girlfriend not married and 2 kids to care for living with the parents of his girlfriend. Of course after a few months problems, he could not pay anymore the dealer took back the car for 50% of the amount he paid and now he has to pay more than 165k debt.. His girlfriend left him and he left his job..The amount will rise every month because of interest  they calculate on the 165k.. In my opinion it is the idiot dealer who made the mistake and he has to take the loss. There should be rules that this kind of scam is forbidden. And there are more such cases. Make people aware that borrowing money will cost dearly and make people also aware that those who give the money won't see anything back, as there plenty of examples enough. But don't pay back the debts. Let the companies who took no care of the customers get their loss. It is a part of their business to take the risk.  

That's everyone in our village !

😁😁😁