The National Police Chief ordered the arrest of two people linked to a debt collection gang, who vandalised a somtum restaurant in Chai Nat province.

 

The owner of the establishment had registered to resolve her informal debts, leading to repercussions from the loan sharks. This event has led to wider investigations targeting loan sharks and other offenders involved in informal loans.

 

Police Lieutenant General Torsak Sukvimol, the National Police Chief, today, December 7, revealed plans to tackle informal debt issues in line with government policy. The initiative, proclaimed by Prime Minister and Finance Minister Srettha Thavisin, is a national agenda requiring the cooperation of all sectors to drive tangible outcomes.

 

The Ministry of Interior, along with the police, launched a registration system to assist in resolving informal debts. The system has seen a significant number of debtors and creditors registering, marking a positive step forward.

However, some incidents have emerged as a result of this initiative. A viral news story reported a debtor being terrorised by an informal loan gang, who vandalised her restaurant in the middle of the night after she had registered to resolve her debt. The incident occurred at a somtum restaurant in Paek Sri Racha Subdistrict, Sankhaburi District, Chai Nat Province, around 4.30am yesterday, December 6.

 

by Nattapong Westwood 

Photo courtesy of KhaoSod

 

Full story: The Thaiger 2023-12-07

 

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This is excellent. The borrower joins the government program to repay informal debts, aka loan sharks but has to identify the source of that debt first. No wonder the loan sharks are getting excited.

18 hours ago, Mike Lister said:

This is excellent. The borrower joins the government program to repay informal debts, aka loan sharks but has to identify the source of that debt first. No wonder the loan sharks are getting excited.

Yes, they don't want to be identified, investigated or have the repayment terms of their loan and high interest rates cut.

4 minutes ago, hotchilli said:

Yes, they don't want to be identified, investigated or have the repayment terms of their loan and high interest rates cut.

This has the potential to put a lot of people in jail or out of business or both.....a good move I reckon.

20 minutes ago, Mike Lister said:

This has the potential to put a lot of people in jail or out of business or both.....a good move I reckon.

It also has the potential of getting a lot of creditors into deeper trouble with the less than friendly loan sharks.

6 minutes ago, hotchilli said:

It also has the potential of getting a lot of creditors into deeper trouble with the less than friendly loan sharks.

True, but enough of them do it, it has the potential save a lot of others future pain.