By Thai Newsroom Reporters
THE TOTAL OF PEOPLE OWING illicit debts to loan sharks and yet keeping it a secret from the authorities is believed to outnumber those who have officially notified of it so far, according to Interior Ministry undersecretary Sutthipong Chulcharoen.
The undersecretary said today (Dec.29) there are many more people who have not yet reported their illicit, informal debts to the authorities than those who already have done so in all districts and provinces throughout the country and advised that they better follow suit sooner than later.
About 120,000 people have so far claimed to owe a combined two billion baht in illicit debts to some 80,000 illegal money lenders.
Of the total two billion baht in illicit debts so far officially notified, about 100 million baht has already been paid in principal plus interest by debtors, thus justifying an immediate end to any more installments, Sutthipong said.
Compromise-based negotiations are held between the identified debtor and the identified loan shark with a district or provincial official performing as mediator to settle the illicit debts with a fairly-cut interest and an extended term of repayment.
However, the undersecretary admitted that many people may choose to never inform the authorities of their illicit debts for fear of dark influence wielded by criminals associated with illegal money lenders despite the government’s anti-loan sharks policy to help them out.
Meanwhile, the Bank for Agriculture & Agricultural Cooperatives and Government Savings Bank will provide soft loans with a 1% monthly interest for the illicitly indebted people in near future, compared to as much as a 20% daily interest charged by loan sharks, he said.
CAPTION:
Representative images of debtors. Top photo: Matichon, Front Page photo: Sanook.com
Also read: 110,000-plus debtors point finger at over 81,000 loan sharks
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