The government invites debtors with outstanding debts to join the “Debt Clinic Program” through participating institutions. to solve the problem of comprehensive debt in one place
Mr. Anucha Burapachaisri, spokesman for the Prime Minister’s Office, revealed that the Bank of Thailand (BOT) has cooperated with the Thai Bankers’ Association. International Banking Association Credit card business operators and unsecured personal loan businesses, and Sukhumvit Asset Management Co., Ltd. (Sor Sor Sor.) organize a debt clinic project (project) so that debtors who have outstanding debts can completely solve their debt problems in one place along with promoting financial literacy and has adjusted the criteria for helping debtors in line with economic conditions in the past This operation is in line with the government policy and General Prayut Chan-o-cha, Prime Minister and Minister of Defense. who saw the importance of household debt problems and seriously want to fix this problem
“In the past, the government designated 2022 as the year of solving household debt. to drive household debt redress And integrate cooperation between many agencies to organize activities and projects continuously. In order to be able to completely resolve the debt problem for the people and entrepreneurs, however, even though the overall Thai economy is improving But some households are still fragile from higher cost of living and debt burden. especially credit card debtors or personal loans that are unsecured and have many creditors. This is a group that still needs help in solving debt problems sustainably. Therefore, the Bank of Thailand by the Debt Clinic Project Supervisory Board Therefore adjusting the qualification criteria to allow debtors with more than 120 days overdue to be able to participate in the program from the original having to be in debt before February 1, 2023 only, ”said a spokesman for the Prime Minister’s Office.
Mr. Anucha said that in addition, the project has added options for debt repayment plans for debtors in projects that have started having problems in installment payments. In case of repeated default, you will have to go back and take action to resolve the debt directly with the creditor. The project will consider the reasons and necessity. To recommend suitable new repayment plans to debtors on a case-by-case basis so that the debtor can continue to pay debts until finally getting rid of the debt. Also in the early stages of debt restructuring. The project has conditions not allowing the debtor to incur new debt. to create discipline and accountability This will help solve problems for the debtor in a sustainable manner. In the part of the debtor who still has the ability to pay The Bank of Thailand recommends continuing to pay off debt to avoid bad debt. This will affect the financial history and ability to borrow in the future.
“For the project participants’ qualifications, they are as follows: (1) being an individual with income aged not over 70 years old (2) having bad debts on credit cards, cash cards, or unsecured personal loans from institutions participating in the project (3) is a non-performing debt (NPL) overdue for more than 120 days (according to the credit bureau report at the current month, the status must be overdue for 121-150 days) (4) total debt not exceeding 2 million baht and (5) not being a person bankruptcy. Effective from May 1, 2023 onwards, interested people can follow the information. or apply through the website (www.debtclinicbysam) LINE (@debtclinicbysam) and Facebook (debt clinic by SAM), including the Call Center, call 1443 every day from 9:00 AM to 7:00 PM. along with requesting financial institutions participating in the project Public relations for debtors to know about the project and acknowledge their right to apply for participation. so that debtors have a chance to solve problems faster before being sold for debt or subject to execution,” a spokesman for the Prime Minister’s Office Said.-Thai News Agency
Source: Thai News Agency