A series of debt negotiation fairs hosted by the Bank of Thailand and the Ministry of Finance kicked off on Friday, with the first event being held at IMPACT Muang Thong Thani exhibition center.
The Thai government declared 2022 the year to address household debts, as the country’s household debt-per-GDP is as high as 90.1%. The government previously offered debt negotiation events, with the earlier campaign comprising 78 events commissioned by the Ministry of Justice. That campaign was able to assist 72,331 debtors.
The Bank of Thailand and the Ministry of Finance are the hosts of the current campaign, which is taking place from now until January next year. The campaign offers consultation services to clients of credit cards, personal loans, automotive loans, nano finance, and loans for agriculture and business.
The services offered will focus on addressing the existing debt burden through restructuring and repayment term negotiation, the promotion of additional income through extra jobs, and helping the general public gain knowledge on financial management.
Around 60 financial institutions are now offering negotiation services at this event, as well as special loans that can help debtors maintain liquidity.
The first event of the debt negotiation series is taking place from Friday until 6 November at Hall 5, IMPACT Muang Thong Thani. (NNT)