Thais owing money to the Student Loan Fund are being invited to this week’s household and SMEs debt relief expo at Muang Thong Thani. Debt relief for borrowers will be facilitated in collaboration with the Right and Liberties Protection Department and the Legal Execution Department.
Student Loan Fund manager Chai-narong Katchapanan said borrowers with unpaid debt are invited to the expo, which runs from Thursday (8 Sept) to Sunday.
Impact Exhibition Hall 5 in Muang Thong Thani, Nonthaburi province, will serve as the venue for the expo, which aims to alleviate the plights of borrowers who have been economically impacted by the pandemic. Many student loan borrowers have missed out on payments due to a lack of income and a number of lawsuits have already been filed.
Chai-narong said his agency is looking to negotiate debt relief for borrowers facing lawsuits or other legal complications. Borrowers entering the debt mediation process will not face lawsuits and will also receive a discount on fines incurred from missed payments. Additionally, they will have the opportunity to request that the repayment period be extended to when they turn 65.
Chai-narong noted, however, that once the revised Student Loan Fund Act takes effect, his agency will be unable to remove liability on the part of the guarantor. (NNT)