Over 2,500 debtors in Nakhon Ratchasima seek resolution for 195 million baht informal debts

[snoop1130]

 

Over 2,500 debtors in Nakhon Ratchasima have registered for assistance in resolving their informal debts, amassing a total debt of 195 million baht. The highest number of registrations came from the Mueang district.

 

The scene at the registration point in Mueang Nakhon Ratchasima district was bustling with both debtors and creditors seeking to register for state assistance in addressing their informal debt issues. Registration officials reported that since the starting date of the registration period on December 1, they witnessed over 50 individuals signing up in person.

 

However, the numbers dwindled thereafter, with no more than ten people registering per day at the service point. It appears that the majority of the public chose to register online rather than make the journey to the district office.

 

Siam Sirimongkol, the governor of Nakhon Ratchasima province, disclosed that the overall registration for assistance to resolve informal debts across all 32 districts of Nakhon Ratchasima province from December 1 to 6, amounted to 2,561 debtors and 1,452 creditors, leading to a total debt of 195,113,842 baht, reported KhaoSod.

 

By Nattapong Westwood

Caption: Photo courtesy of KhaoSod

 

Full story: The Thaiger 2023-12-07

 

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[hotchilli]

12 hours ago, snoop1130 said:

Over 2,500 debtors in Nakhon Ratchasima have registered for assistance in resolving their informal debts, amassing a total debt of 195 million baht. The highest number of registrations came from the Mueang district.

People are broke and up to their necks in debt, a bit like the government.

The only people laughing are the top tier officials and elite families.

[Mike Lister]

1 minute ago, hotchilli said:

People are broke and up to their necks in debt, a bit like the government.

The only people laughing are the top tier officials and elite families.

Why do you think the government is up to their neck in debt?

 

I think they're in a pretty good position. The new budget has been approved and starts 1 January. Government debt is only 55% of GDP, one of the lowest around. Sure, International tourism didn't meet expectations but domestic tourism beat them and after all, circa 25 mill is not a bad number, even if they do want more. But that 25 million represents only a small portion of GDP, around 12%! Government may have big plans to spend money but it hasn't happened yet and may not, as of today they look very much OK.

[hotchilli]

17 minutes ago, Mike Lister said:

Why do you think the government is up to their neck in debt?

 

I think they're in a pretty good position. The new budget has been approved and starts 1 January. Government debt is only 55% of GDP, one of the lowest around. Sure, International tourism didn't meet expectations but domestic tourism beat them and after all, circa 25 mill is not a bad number, even if they do want more. But that 25 million represents only a small portion of GDP, around 12%! Government may have big plans to spend money but it hasn't happened yet and may not, as of today they look very much OK.

Dragging their feet to come up with funds to cover their vote buying scam... the government needs to borrow 500 billion?

Srettha on a world tour begging foreign companies to come and set up to bail-out Thailand who basically have nothing but a few elite families keeping things ticking along.

The GDP bolstered by it's young females working flat-out keeping tourists satisfied.

[Mike Lister]

Just now, hotchilli said:

Dragging their feet to come up with funds to cover their vote buying scam... the government needs to borrow 500 billion?

Srettha on a world tour begging foreign companies to come and set up to bail-out Thailand who basically have nothing but a few elite families keeping things ticking along.

The GDP bolstered by it's young females working flat-out keeping tourists satisfied.

The 500 billion giveaway is seriously bad news I reckon, the fact that he's he's trying to borrow the money to fund it though doesn't mean government is broke. The annual budget is 3.5 trillion, the giveaway is one seventh of that so obviously the funds can't come from the budget, they have to come from somewhere else. BOT has USD 212 billion in foreign currency reserves but government can't touch that money hence borrowing is the only course open to them.

 

I see Srettha's world tour to drum up business in a different light. I think it's very positive and the fact he's being proactive and going to business to get them to invest in Thailand can only be positive, others should have done more of the same in the past.

 

As for young girls boosting GDP, I really doubt there's any more or less of them today than there has been in recent years.

[digger70]

19 hours ago, snoop1130 said:

Over 2,500 debtors in Nakhon Ratchasima have registered for assistance in resolving their informal debts,

What does that mean, the usual thing begging the Govment to bail them out? 

They got themself into trouble .

If one can't get a loan from the bank that means one doesn't earn enough to pay back the loan. 

If they are so stupid to borrow money at extreme  interest rates  from loan sharks they are bound to get in trouble .now they want Help.