Search Results for: debtors
- Thailand News
New debt relief scheme aids nearly 500,000 Thai debtors
Deputy Finance Minister Phaophum Rojanasakul announced that as of January 28, the You Fight, We Help initiative has received interest from 497,552 debtors, covering 576,496 accounts. The scheme aims to assist individual debtors and includes two measures, excluding direct registration with financial institutions. The first measure, Direct Payment, Asset Retention, targets home, car, and small SME loans with modest limits,…
- Thailand News
Foundation urges more funds to aid Thai debtors’ repayments
The Supha Wongsena Foundation For Debtors’ Rights Reform has called on the government to allocate more funds to the Land Bank Administration Institute to assist individuals in repaying their debts. This appeal was made during a seminar aimed at finding solutions to household debt, organised by the Department of Special Investigation (DSI) at the DSI Academy in Nong Chok district…
- Phuket News
2,000 debtors flock to Phuket fair for a chance to clear the air
Over 2,000 debt-ridden individuals yesterday turned out for the 55th Debt Relief Fair at The Pago Hotel in Ratsada, north of Phuket Town. The event, hosted by the Ministry of Justice’s Department of Rights and Liberties Protection and the Legal Execution Department, in collaboration with the Phuket Provincial Justice Office and other organisations, aimed to offer guidance on managing various…
- Business News
Minister proposes shorter blacklist period for bad debtors
Finance Minister Pichai Chunhavajira proposed reducing the time period for which bad debtors remain on the National Credit Bureau’s blacklist, aiming to facilitate quicker access to new borrowing opportunities. While speaking at a signing ceremony for the establishment of ARI-AMC, a joint venture between the Government Savings Bank (GSB) and Bangkok Commercial Asset Management Plc (BAM), Pichai noted that the…
- Business News
Finance Ministry proposes joint venture asset management companies to aid debtors
The Finance Ministry is advocating for collaborative investments between Specialised Financial Institutions (SFIs) and Asset Management Companies (AMCs), proposing the formation of joint venture asset management companies (JV-AMCs). This initiative aims to aid debtors who collectively hold three million accounts amounting to a total value of 230 billion baht, stated Paopoom Rojanasakul, the secretary to the finance minister. Rojanasakul explained…
- Business News
GSB plans debt moratorium for 630,000 debtors amid Covid-19 pandemic
The Government Savings Bank (GSB) is setting up a plan to provide a debt moratorium for 630,000 debtors, totalling 6.3 billion baht. This plan is in response to the economic hardship experienced by individuals and businesses due to the Covid-19 pandemic, according to an anonymous source. During the pandemic, between 2020 and 2021, GSB, a state-owned entity, issued loans totalling…
- Thailand News
Thai government proposes 15 billion baht plan for informal debtors relief
The Ministry of Finance proposed a plan to the Cabinet to assist informal debtors, allocating a budget of 15 billion baht through the Government Savings Bank (GSB) and the Bank for Agriculture and Agricultural Cooperatives (BAAC). This initiative will also aid debtors affected by the Covid-19 situation who have lost their credit bureau records. At the Government House at 10am…
- Thailand News
Over 2,500 debtors in Nakhon Ratchasima seek resolution for 195 million baht informal debts
Over 2,500 debtors in Nakhon Ratchasima have registered for assistance in resolving their informal debts, amassing a total debt of 195 million baht. The highest number of registrations came from the Mueang district. The scene at the registration point in Mueang Nakhon Ratchasima district was bustling with both debtors and creditors seeking to register for state assistance in addressing their…
- Crime News
Vietnamese nationals arrested in Thailand for illegal online lending scheme
Seven Vietnamese nationals were apprehended in Pathum Thani for running an unauthorised online lending operation, imposing high floating interest rates on Vietnamese clients, reported Thai police yesterday, June 22. Immigration, cybercrime, and tourist police officers conducted a raid on a residence within a housing estate in Lam Luk Ka district. Security personnel had alerted them to suspicious activities by a…
- Thailand News
Thai Finance Ministry to ease debt relief criteria
The Thai Finance Ministry is considering easing debt relief criteria under the You Fight, We Help programme, allowing those with a single day of default to participate. Deputy Finance Minister Paophum Rojanasakul announced that discussions with the Bank of Thailand are ongoing to broaden the eligibility criteria. The proposed changes aim to expand the Pay On Time, Keep Asset measure,…
- Business News
Thai state banks urged to bolster export businesses amid US tariffs
State-owned financial institutions are encouraged to implement measures to aid export businesses and the supply chain. During a policy briefing yesterday, May 15, Finance Minister Pichai Chunhavajira highlighted the impact of US reciprocal tariffs, predicting a two-year challenge for domestic businesses, particularly those involved in exports. Pichai urged these financial institutions to expedite the introduction of support measures, especially for…
- Thailand News
Thailand student loan defaulters face 3,000 baht salary cuts
Thousands of student loan borrowers are in for a financial shock as the Student Loan Fund (SLF) prepares to slash an extra 3,000 baht from monthly salaries — and it’s all starting this month. The move has sparked a storm of confusion and concern among debtors, many of whom claim they’ve been making payments regularly. But according to the SLF,…
- Thailand News
Thai police arrest two men for social media firearm threats
The Technology Crime Suppression Division in Mueang Thong Thani announced the arrest of two men who posted images of firearms on social media to intimidate their rivals. The suspects, 25 year old Satawat and 26 year old Pirawit, confessed to using the weapons to collect debts for a financier. Police Lieutenant General Trirong Phiwphan, along with other officials, detailed the…
- Business News
Thaksin wades into Thailand debt storm with bold bailout plan
Former Thailand Prime Minister Thaksin Shinawatra has reignited debate over the country’s mounting debt crisis, urging the government to buy up bad loans to help struggling households. The 75 year old’s proposal? The state should step in, purchase non-performing loans (NPLs) from financial institutions, and wipe debt-ridden individuals off the National Credit Bureau’s blacklist. But not everyone is convinced by…
- Phuket News
Phuket loan sharks busted for 50% interest rate scam
Two men running an illegal loan shark operation in Phuket have been arrested after allegedly extorting desperate borrowers with sky-high interest rates. Their arrests come as part of a nationwide crackdown on unlawful debt practices and predatory lending. Phuket Immigration officers, working alongside the Immigration Bureau’s Crime Suppression Division 8 and Immigration Bureau 6, swooped in last Thursday, February 27,…
- Crime News
Chiang Mai loan shark arrested for illegal high-interest lending
A 33 year old man known as Oat has been apprehended for leading an illegal loan operation in Chiang Mai, involving high interest rates and intimidation tactics. This follows reports of aggressive debt collection methods in the Chai Sathan subdistrict of Saraphi district. Yesterday, February 21, the loan shark gang reportedly threatened debtors at their homes. Social media posts revealed…
- Thailand News
Debt-ridden woman found dead in car in Ayutthaya
A 47 year old woman was found dead in a luxury car parked on a roadside in Phra Nakhon Si Ayutthaya, causing distress to her husband and daughter. The woman, who had been missing since she said she was going to the market the previous day, could not be reached despite numerous attempts to contact her. Police Lieutenant Thongchai Kaewjarun…
- Thailand News
Thai Airways: Ministry’s bid for more administrators rejected
The Central Bankruptcy Court has thrown out the Ministry of Finance’s bid to tighten its grip on Thai Airways’ rehabilitation, ruling that the current administrators are steering the airline’s recovery effectively. In a hearing yesterday, the court dismissed a proposal by the Ministry of Finance to appoint two additional administrators to oversee the struggling carrier’s rehabilitation. The bid aimed to…
- Thailand News
Thai transwoman and boyfriend steal 3 million baht in cash and gold
Police arrested a Thai transwoman and her boyfriend for stealing a safe containing 3 million baht in cash and gold from a house in the Isaan province of Loei on Sunday. A homeowner filed a complaint with officers at Phu Ruea Police Station after the 50-kilogramme safe was stolen at approximately 11.23am on Sunday, January 19. The safe contained nearly 400,000…
- Bangkok News
Police arrest loan shark gang at Ministry of Culture
A dramatic arrest unfolded at the Ministry of Culture when police apprehended members of a loan shark gang accused of charging extortionate interest rates and intimidating debtors. The operation, led by Montri Teshakun, targeted 30 year old Veeraphat, and 23 year old Meentada, who were charged with operating an unauthorised personal loan business and lending money at rates exceeding legal…
- Business News
Bank loan growth to shrink despite Q4 rise in retail lending
Bank loan growth is anticipated to shrink this year despite a slight rise in the fourth quarter, as banks maintain their cautious lending practices into 2025 to 2026 due to sluggish GDP growth, analysts report. Analyst Weerapat Wonk-Urai from CGS International Securities (Thailand) highlighted a rising ratio of underperforming loans in retail lending, prompting banks to enforce stricter credit standards…
- Business News
Banking on stability: Thailand hits a high note despite loan flatlining
The Bank of Thailand is striking a confident note, assuring everyone that the nation’s banking system is rock solid despite some worrying dips in loan growth. Their latest statement paints a picture of moderately strained resilience, with banking capital, liquidity, and loan-loss provisions standing firm. Loan growth took a hit in the third quarter of 2024, shrinking by 2% compared…
- Business News
Thai banks remains cautious despite liquidity surplus
Thailand’s banking sector is experiencing a significant liquidity surplus, according to a Bank of Thailand (BoT) assistant governor. The central bank has not yet increased its lending oversight, indicating a cautious approach by banks when it comes to extending loans. Sakkapop Panyanukul, in an article featured on the BoT’s website, explained that banks’ lending decisions are closely tied to the…
- Economy News
Finance Ministry cashes in with economic stimulus package
The Finance Ministry is preparing to unveil an extensive economic stimulus package for review by a committee led by Prime Minister Paetongtarn Shinawatra. The announcement was made by Deputy Finance Minister Julapun Amornvivat, who indicated that the proposal includes a 10,000-baht (US$290) cash handout distributed via a digital wallet. This initiative is aimed at stimulating economic activity to bolster growth…
- Thailand News
Thai Airways reshuffle: Finance Ministry calls for new managers
Thailand’s Finance Ministry is set to shake up Thai Airways International Plc (THAI)‘s rehabilitation plan, nominating two high-profile officials to join the team managing the troubled national airline’s comeback. In a bid to secure its position as THAI’s primary creditor, the ministry will propose these candidates at a crucial meeting with debtors on Friday, November 8. The nominees, Polchak Nimwatana,…
- Thailand News
Thai man denies rape attempt in Chon Buri, claims erectile dysfunction
A Thai man in Chon Buri admitted to physically assaulting a victim over a 100,000 baht debt but denied attempting to rape the victim’s wife, who is eight months pregnant, claiming he suffers from erectile dysfunction. The Thai victims sought help from news agencies following the brutal attack and alleged attempted rape by a 46 year old vintage shirt vendor…
- Thailand News
Thai nationals in Korea prepare to exorcise ‘little ghosts’
Thai nationals in South Korea launched a new service aimed at facilitating the arrest of illegal Thai workers, also known as “little ghosts,” who have disputes with their clients. The Facebook page Poetry of B*tch shared details of this unusual new service yesterday, October 22. The service, operated by Thai people in South Korea, offers assistance to those who want…
- Thailand News
Poisoned justice: CSD to wrap up cyanide serial killer cases
The Crime Suppression Division (CSD) officers reported today that they would submit the summary of the 14 cases that rocked Thailand involving the cyanide serial killer. The CSD revealed today, October 17, that they would present the summary to the prosecutor by the end of October. The suspect is expected to be sentenced for one major case in November. The…
- Thailand News
Recipients can use 10,000-baht handout to clear debts: Deputy PM
Recipients of the 10,000-baht handout are free to use the money as they see fit, including paying off debts, according to Deputy Prime Minister Phumtham Wechayachai. Phumtham addressed reports that many eligible individuals in the first phase of the scheme, which began yesterday, September 26, plan to use the funds to clear their debts. “They can use the money [to…
- Thailand News
PM Paetongtarn unveils 10 policies on economic and social welfare
Thai Prime Minister Paetongtarn Shinawatra delivered the government’s policy statement to Parliament yesterday, outlining 10 urgent policies to address pressing national issues. The policies cover a broad spectrum of areas, with a focus on economic stability, social welfare, and national development. The government intends to undertake comprehensive debt restructuring, focusing particularly on housing and auto loans. Both formal and informal…
