Land title deeds returned from loan sharks


Bangkok – The Deputy Prime Minister has issued policies to address the problem of informal debt in the community. Meanwhile, the provincial police of region four have returned land title deeds to members of the public after the deeds were earlier taken as security by loan sharks.

Gen. Prawit Wongsuwan, Deputy Prime Minister and Minister of Defence, returned 140 land title deeds to 135 members of the public who had suffered at the hands of loan sharks for a second time. The land titles returned cover about 110 acres, worth about 120 million baht.

The prime minister this week told the people who got their deeds back not to use them for mortgages again. If they have a financial problem, they should consult financial institutions instead of going to loan sharks. The government will also continue to suppress the activities of loan sharks across the nation.

In addition, the deputy prime minister has issued policies to solve the problem of informal borrowing to the provincial police of region four, especially addressing greedy loan sharks who demand interest well above the legal rate. Such lenders are located in great numbers in Udon Thani and Khon Kaen Provinces. The police, military personnel and civilians are integrated in the suppression of these activities.