After Prime Minister Settha Thavisin announced the move forward Solve debt throughout the system and raised it as a national agenda to unlock the lives of Thai people There have been three press conferences about the government’s debt resolution measures, on 28 November, 8 December, and yesterday, 12 December. It was found that there are many groups of debtors who will receive assistance.

Including on December 1st, the Ministry of Interior It has also begun to open for registration of debt outside the system. For use in tracking creditors and debtors. to enter the mediation process further as well

ThairathMoney summarizes guidelines for helping debtors. various groups together that will benefit from such debt relief measures Both are measures that the Cabinet has already approved, such as suspending farmers’ debt, and measures that the government says can be expanded immediately, such as teacher debt. Government debt credit card debt Car or motorcycle hire purchase debt as follows:

Solve the debt of farmer groups

• Suspension of farmers’ debts, both principal and interest. The amount does not exceed 300,000 baht/person for a total of 3 years, with the Cabinet meeting deciding on 26 Sep. 2023.

Student debt (Student Loan Fund debt)

• Reduce interest
• Adjust the payment plan
• Release the guarantor
• Unfreeze account

Guidelines for resolving debt for teachers and civil servants

• Deduction of debt not exceeding 70% of salary
• Providing welfare loan benefits for civil servants (low interest)

Resolve credit card debt with the government

• Restructure debt through the “Debt Clinic” project. Installments can be made for 10 years, reducing interest to 3-5% per year.

Debt, car and motorcycle loans

• stipulate that the car rental contract and motorcycles It is a control contract, assigned to the Office of the Basic Education Commission to carry out the work as announced on 12 Oct. 2023.

Solve debt in the SME business group (Small and Medium Enterprises)

• Cancel bad debt status For businesses affected by COVID-19
• Allow debt restructuring

Informal debt

• to the local sheriff and police Help negotiate debt reconciliation For those who have paid the principal in full
• Open for registration to solve debt outside the system online at https://debt.dopa.go.th Or you can register at the district office. or district offices nationwide (from 1 Dec. 2023 to expire 29 Feb. 2024)

Bad Debt (NPL)

• Set up a joint venture company between state banks with an asset management company to receive the transfer of bad debts To lead to debt restructuring for debtors more flexible

However, the government states that all of the above debt solutions are only solving problems at the root cause. in the urgent period To breathe life into every group of debtors In the long term Problems must be solved at the structural level.

For example, providing credit services appropriately and fairly. More reflective of debtors’ risks, with appropriate consumer protection measures in place. and prevent the problem of incurring debt beyond potential which gives credit Information other than loan payment history will be considered, such as water bill payment history. or the debtor’s electricity bill This will help people have easier access to credit in the system.

Encouraging savings cooperatives and credit unions Credit information is reported to the NCB so that all lenders can assess the debtor’s ability to repay. and preferential management of debtor salary cuts that is fair to all parties. To repay debts with credit providers appropriately

cr.https://www.thairath.co.th/money/economics/thailand_econ/2747475?fbclid=IwAR3Lernmn_CuG-OGgj63kLUNvxMutseW97r–GMt2krgUN7VAUFF1BS8_rM

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