Justice Ministry holds seminar to find solutions to informal loan debts

[webfact]

Justice Ministry holds seminar to find solutions to informal loan debts

 

 

BANGKOK, 14 July 2017 (NNT) – The Ministry of Justice launched a seminar to discuss problems about informal loans and find solutions for debtors. 

Deputy Permanent-Secretary of the Ministry of Justice Dusadee Arawuit opened the seminar on the management of informal loans and measures to solve problems related to informal loans. 

The deputy permanent-secretary proposed the cancellation of consignment sales which allow lenders to take advantage of the debtors, especially in the northern and northeastern regions where farmers have lost a large sum of money and property in a short-term loan contract which may have last for three to six months. 

He said most informal lenders have had legal knowledge or work in legal circle, though the law is primarily meant to provide fairness to the general public. 

He added there are many informal loan debtors who cannot be assisted as they have had too much debt which would constrain the sum of credit provided by the Government Savings Bank.

 

-- nnt 2017-07-14

[clockman]

Are they talking about loan sharks?