Informal debt registration opens on 1st Day

0
440
Anutin emphasized that this is not debt cancellation. Instead, efforts will be made to prevent contract breaches, fostering fair transactions between both parties.

As today (Dec 1) is the first day of registration for people facing difficulties with informal debts, Interior Minister Anutin Charnvirakul has ordered the Department of Provincial Administration to ensure smooth process in the registration system, both online and in-person.

After the first day of registration, an overview will be obtained to identify any challenges or obstacles and officials will conduct inspections to ensure that no names are omitted or missing, he said.



He emphasized that this is not debt cancellation. Instead, efforts will be made to prevent contract breaches, fostering fair transactions between both parties.

This registration initiative to address informal debts will continue until the end of February next year.

Debtors in several provinces are interested in seeking help from the government on the first day of registration. In Nakhon Ratchasima, despite only two people registering in-person at the Muang district office, a significant number registered online within the first hour, with 60 people already registered, carrying debts exceeding 2 million baht.



One registrant revealed having an informal debt with an interest rate of 10% per month, accumulated over three years after borrowing 40,000 baht. With the ability to pay only the 4,000-baht interest per month, this debtor decided to make the registration promptly. -819 (TNA)