Nationwide informal debt mediation operations to start on Monday

[webfact]

 

The Ministry of Interior, via the Provincial Administration Department, will begin nationwide informal debt mediations, as part of the “debt solving market place” program, at provincial halls and municipal offices on Monday.

 

Kittiratt Na-Ranong, chief advisor to the prime minister, will preside over the program launch ceremony, at the Nakhon Nonthaburi municipal office, tomorrow morning, said Government Spokesman Chai Wacharonke.

 

According to the “debt solving market place” program, informal debtors and their lenders, who have registered to settle their debts since December 1st, will meet at the halls or offices to settle their debts, with representatives from the Government Savings Bank and the Bank of Agriculture and Agricultural Cooperatives, Pico Finance and the Office of Attorney-General acting as mediators.

 

Full story: Thai PBS 2024-01-15

 

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[flyingtlger]

26 minutes ago, webfact said:

informal debt mediations

[ikke1959]

The people with debts are to blame for spending more than they could afford.. Nothing more... The poor will get nothing or don't know there is help. Today on the news in Khampeng Phet province a boy of M2 14 yrs old living with his grandparents in a I don't know how to call it a shelter of plastic and bamboo and no money for food except what the boy can get from a temple.. Happily a teacher is helping them now... A shame that such things still exist in Thailand..... And there is no help for them... But the ones who have spend too much are being helped again...

[mikebell]

What's to mediate?  How much did you borrow from this shark?  How much more than the principal have you repaid?  OK - debt cancelled. Shark you must refund 80% of the overpay to the debtor; do not attend future meetings of this sort wearing a brown uniform.

[Srikcir]

6 hours ago, webfact said:

debt solving market place” program,

Why do private pawnshops even exist in Thailand considering there are government-run pawnshops?

• Last year those government pawnshops were ordered to waive interest on repayment of loans up to 5,000 baht, according to Social Development  and Human Security Minister Silpa-archa. Dec. 3, 2023  nationthailand.com 

Ban "informal lenders" as illegal operations subject to arrest and confiscation of all assets. Move debt accounts to government-run pawnshops.