PM Prayut stresses solutions to informal debt

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PM stresses solutions to informal debt

 

BANGKOK, 8 June 2017 (NNT) - The Prime Minister emphasized the need to solve the public's informal debt issue, urging them to seek help and advice from the Government Savings Bank, Bank for Agriculture and Agricultural Cooperatives, or the Damrongtham Centers. 

Prime Minister’s Office (PMO) Spokesman Lt. Gen. Sansern Kaewkamnerd disclosed that the cabinet’s meeting had acknowledged a report from the Office of the Permanent Secretary of the Prime Minister’s Office on a large number of complaints urging the government to solve the issue of informal debt. The complaints were submitted to Damrongtham Center and to the Office of the Permanent Secretary of the Prime Minister’s Office. 

The Minister of Finance clarified that the government had already determined the measures for tackling informal debt, but the general public in some areas might not have been informed. 

He said that The Ministry of Justice has set up centers to aid debtors by connecting them with relevant agencies depending to ease their debt burdens. 

The offices serve as a central hub for debtors to contact and seek help from the government's relevant agencies. Legislation on interest rates and debtor protection have been amended in order to empower these centers, said the Justice Minister. 

The Secretariat of the Prime Minister’s Office has also collaborated with the Government Savings Bank, the Bank for Agriculture and Agricultural Cooperatives, and the Legal Execution Department in providing a consultation clinic specifically to handle loan sharks. Services will include mediation between the creditors and debtors, as well as loans of up to 50,000 baht.

 

-- nnt 2017-06-08

[worgeordie]

"Services will include mediation between the creditors and debtors, as well as loans of up to 50,000 baht."
More help for those in debt,while those that manage their budgets,and maybe save a few Bhat,see their  

savings,eroded everyday,as interest rates dont even cover inflation. 

regards worgeordie

[Bob12345]

People take out loans with loan sharks for the simple reason they are not eligible for a government/bank loan (no documented income, bad payment history, etc).

 

But now the government is willing to take on those loans after all?

Will be fun to see how the negotiations with the loan sharks will go...

[williamgeorgeallen]

helping people in debt by loaning them more money? is that sustainable? just watched a documentary on pay day loans. seems much of the world is in the grip of easy credit.

[robblok]

1 hour ago, Bob12345 said:

People take out loans with loan sharks for the simple reason they are not eligible for a government/bank loan (no documented income, bad payment history, etc).

 

But now the government is willing to take on those loans after all?

Will be fun to see how the negotiations with the loan sharks will go...

Crazy of course to take care of all those debts, what will happen people will go back in debt again. Who has to pay for it the working middle class. No wonder they are pissed off.

 

If someone is turned down by a bank there is good reason, for those times that the banks are too inflexible the government should help with loans (if money can be gotten back). But to give loans to people who can't pay and then let the taxpayer pay is crazy. Thailand is in a habit of rewarding bad behavior and rewarding good behavior.  Rack up debt, farm in a stupid way that is not profitable and other things you get bailed out. Study and get ahead in life and you will have to pay heaps of income tax to finance those that do stupid things. (I am talking about the middle class not the real rich).