Number Of People Owing Illicit Debt Now Surpasses 100,000

[webfact]

 

THE NUMBER OF PEOPLE indebted to loan sharks has now surpassed 100,000 over a three-week period, confirmed the Ministry of Interior’s undersecretary Sutthipong Chulcharoen today (Dec.21).

 

A total of 105,482 people have so far claimed with the authorities to have a combined sum of 6.57 billion baht in illicit, informal debt currently owed to a total of 76,223 loan sharks in all parts of the country since the beginning of this month, Sutthipong said.

 

Of that total, 92,235 people have notified the authorities of their illicit debt online whilst 13,247 others have contacted them in person.

 

Most of the registered debtees have been reported as Bangkokians, followed by those of Nakhon Sri Thammarat, Songkhla, Nakhon Ratchasima and Khon Kaen respectively.

 

By Thai Newsroom Reporters

Representative images of debt. Credit: Matichon

 

Full story: THAI NEWSROOM 2023-12-22

 

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[2baht]

Well whatever you do, don't increase the minimum wage! 

[hotchilli]

2-16 baht increase will solve everything... debts will be paid off, loan sharks will go out of business, Red plate EV's will be everywhere.

[2baht]

It's a loan sharks paradise here!

[KhunLA]

what orifice did they pull that # out of 

[JMT42]

I would multiply this by ten o get a more realistic number.

[bamnutsak]

FWIW this is the number of people who registered with the government acknowledging their 'informal' debts.

 

I don't think it's crazy to suggest this represents 1% of the total number of people who owe money to the loan sharks.

 

Who wants to snitch on the local "influential person"?

 

 

 

 

[Thingamabob]

This is a gross under estimate. More like 10 times minimum that number of indebtors.

[mikebell]

Fear not - RTP are on the case and will be carefully searching the list to ensure anonymity for any of their members.

[traveller101]

Negotiations between debtors and illegal money lenders (loan sharks) with government officials acting as mediators take place.

There is a law, in effect since 2017 (The Act prohibiting the collection of interest at an excessive rate).

A rate in eccess of 15% per annum is illegal and results in the offender facing criminal sanctions - jail up to 2 years and/or fine up to 200'000 baht.

 Why mediating - unless these loan sharks charge !less than 15% interest