Warning issued over student loan debts

By The Nation

 

BANGKOK: -- The government’s Student Loan Fund (SLF) is using its Facebook page to warn recipients tardy with repayments that they face lawsuits – and to advise them what to do when the court warrant arrives.

Anyone who has missed more than five instalments of repayments on their debt in four years is to be sued, says the SLF Facebook page – https://www.facebook.com/studentloan.th.

 

But the case could be dismissed before the judge passes sentence if they pay off their debt and pay a Bt5,500 lawyer’s fee at least two weeks before the appointed court date. 

 

The payment receipts must be submitted to KTB Law Co Ltd via fax number 02-2613755, or they can call 02-261-3739, extension 8778. 

 

The same advice applies to people overdue in repaying an Income Contingent Loan, but their payment receipts should go to the SLF’s Litigation and Legal Execution Division at fax number 02-016-4940, or they can call 02-016-4888, extension 550-587.

 

Those ready to let justice run its course face one of two possible scenarios. 

 

If they appear in court on the appointed date with a guarantor or other authorised person, they’ll receive a “consent judgement”, under which they must sign a contract promising to repay their debt in monthly instalments over nine years. 

 

Failure to appear in court or appearing without a guarantor would lead to an “ex parte” ruling, by which the debt must be repaid in full.

 

Source: http://www.nationmultimedia.com/detail/national/30322662

 

-- © Copyright The Nation 2017-08-03

Promise set to do a lot of business. Speaking of which they should also get a warning to regulate their 'fees'

I guess a lot of parents will be selling land soon .......