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 types of debt.
Dubbed Creating a Path of Fairness, the fair was led by Ratchada Chaikupt, advisor to the Minister of Justice.
Ratchada explained that the mediation process was designed to help prevent legal action against those unable to meet payment criteria or adhere to existing instalment plans. The event focused on various debts, including student loans, car hire purchases, government debts, credit card debts, and personal loans.
Attendees received assistance in the form of debt settlement discounts, interest rate reductions, extended repayment periods, and advice from legal and financial experts, Ratchada said.
“The fair also emphasised the importance of financial planning and discipline to prevent household debt problems.”
A wide range of organisations participated in the mediation efforts, including the Student Loan Fund (SLF), Government Savings Bank, Government Housing Bank, Bank for Agriculture and Agricultural Cooperatives, Krung Thai Bank, Srisawat Corporation Company Limited, and the Provincial Electricity Authority of Phuket.
These organisations offered mediation services and disseminated information about financial planning through public relations exhibitions and advisory services.
During the event, signs for dispute mediation centres were distributed to be posted at several police stations across Phuket, including Cherng Talay, Sakhu, Kamala, Karon, Chalong, Tha Chatchai, Patong, Kathu, and Phuket City Police Stations.
Phuket currently has 69 government debt mediators and 71 public sector debt mediators. There is one government dispute mediation centre and 17 public sector mediation centres on the island. Ratchada noted that the event is expected to have brought more than 3,000 debtors into the mediation process, with total mediation funds estimated to exceed 350 million baht, reported Phuket News.
The fair not only provided immediate financial relief but also aimed at fostering a more stable and financially disciplined community through ongoing support and education.
