Banking Scenario In Thailand - Npl

[roguegirl]

I am wondering what it's like in Thailand as per topic.

How is the NPL like? I mean what is the percentage and is collection successful always? What's the mode of debt collection - reminders, legal cases (letter of demands, summons, foreclosure, etc.), restructuring, rescheduling, negotiation settlement...

What's the interest rate like? The BLR? The penalty like?

What are the banking facilities available?

Thanks in advance for info.

Edited December 8, 2006 by roguegirl

[Casanundra]

Why? Are you thinking of coming here as a loan shark or something?

Banking facilities are quite good and many even do Internet banking too.

Consumer protection is quite lax however and the banks don't take responsibility for the debt of their subjects and interest can be as high as 20% on credit cards.

I believe although not experienced it myself, that the Thai heavy boys come in and give you a kicking if you refuse to pay off any debts but this is all unsubstantiated of course

Edited December 8, 2006 by Casanundra

[roguegirl]

I better start checking... who knows I may strike jackpot!

Anyway, 20% is REALLY very high!

So... is using the big boys a more popular trend? No legal procedures for debt recovery? Surely there are loopholes!

[bendix]

There are plenty of legal recourses for debt recovery available to big business, but of course how effective they are completely depends on the nature of the debtor and the amount of the debt. To give the impression that all debt recovery is based around using 'big boys' is nonsense. Naturally this happens in small business situations or personal debts, but name a country where that is not the case.

Also, 20% is not that high for credit cards. i seem to recall the rate in Australia and the UK is usually around 16%.

[roguegirl]

There are plenty of legal recourses for debt recovery available to big business, but of course how effective they are completely depends on the nature of the debtor and the amount of the debt. To give the impression that all debt recovery is based around using 'big boys' is nonsense. Naturally this happens in small business situations or personal debts, but name a country where that is not the case.

Also, 20% is not that high for credit cards. i seem to recall the rate in Australia and the UK is usually around 16%.

Yes, I agree. The rate varies in different countries. In some countries, it can be as low as 10%.

In this case, I would like to understand the recourse in the banking scene. Hope to get some insight though.