Many more people tipped to report loan shark debts

By Thai Newsroom Reporters

MANY MORE PEOPLE in all parts of the country are ultimately expected to inform government officials of debt which they may owe to loan sharks sooner than later, said Deputy Prime Minister-cum-Interior Minister Anutin Charnvirakul today (Dec.4).

Only about 40,000 people throughout the country have so far notified the authorities of their illicit, informal debt whilst many others are encouraged to follow suit sooner than later so that the authorities will promptly take steps to help them completely settle it, according to the interior minister.

That compared to a total of 22,090 people who claimed to have illicit debt to loan sharks on Dec.1, the first day on which the Pheu Thai-led government practically launched the anti-loan sharks campaign nationwide.

Both the loan shark and the debtor are to be brought by the authorities to negotiations and compromise for the settlement of the illicit debt, albeit mostly incurring a disproportionately high interest, with a shared win-win sentiment, Anutin said.

The interior minister advised that the debtor no longer view the loan shark as sort of a villain since many among the former are known to have failed to repay for either part of the principal or the interest for a long period of time.

Prime Minister Srettha Thavisin, scheduled to officially kick off the anti-loan sharks campaign on the upcoming Friday, has earlier remarked that a total of about 50 billion baht in illicit, informal debt are believed to be combinedly borne by an unknown number of people throughout the country today.

The incredibly high interest rate currently charged by the loan shark will definitely be lowered to a fair level for the debtor to pay alongside the principal either in whole or on installment basis to finally clear up their debt, according to the prime minister.

Those who may owe debt to loan sharks are encouraged to join the populist campaign by contacting the Ministry of Interior’s Damrongtham Centre or district offices in all the provinces or doing so online via the ministry’s website.

CAPTION:

Deputy Prime Minister-cum-Interior Minister Anutin Charnvirakul. Top photo: Thai Rath, Front Page photo: Naewna

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