By Thai Newsroom Reporters
THE GOVERNMENT SAVINGS BANK is offering soft loans which people can use for settlement of illicit debt but not for refinancing of their bank debt.
The GSB is providing a maximum of 50,000 baht in soft loans with a maximum of five years in repayment term for customers who may currently owe debt to illicit money lenders anywhere.
The GSB is charging a range of 0.75 to 1.00% in monthly interest rate for its soft loan specifically provided for the people to settle their illicit debt.
Nevertheless, such soft loans cannot be used to refinance any outstanding loans which the GSB customers may still owe to the bank, he said.
A total of 140,516 people have so far claimed to owe a combined 118 billion baht in debt to a total of 109,951 illicit money lenders in all provinces of the country, according to the Ministry of Interior’s undersecretary Sutthipong Chulcharoen.
Altogether 12,768 debtors have so far successfully negotiated the settlement of a combined 667 million baht in illicit debt.
Under the government’s anti-loan sharks campaign, compromise-based negotiations are held between the indebted people and loan sharks with government officials acting as mediators to completely settle the debt.
The Debt Settlement Market is held at least once a month at the provincial office of the Department of Provincial Administration and at least once a week at the district office of the agency nationwide.
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Top and Front Page: Representative images of Government Savings Bank offering soft loans to settle illicit debts. Photos: Matichon
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