Uncle Tu’s government solves the debt problem of the student body and 7.4 million guarantors, solves 1.8 thousand teachers-police debts, releases low-interest loans – solves the problem of borrowing from outside the system.
Ms. Tipanan Sirichana, Deputy Spokesperson for the Prime Minister’s Office, revealed that the Cabinet meeting (Cabinet) acknowledged the work of the Committee on Resolving Debt for Small People. Between July 2021-March 2023, debt restructuring mediate debt problems to avoid litigation Widespread debt default By helping 4.6 million student loan debtors and 2.8 million guarantors by amending the Student Loan Fund Act.
Resolving Teacher and Police Liabilities with debt restructuring interest reduction relaxation of repayment terms by using savings cooperatives as the main mechanism There is an official fix. Debt restructuring 18,362 cases Debt restructuring Including household debt, student debt, credit cards, personal loans car loan and teacher debt The government has also updated the law. To create an ecosystem (Ecosystem) in debt mediation. Take care of car hire purchase loans Savings cooperative lending and more fair debt collection
Improving the rules to enable people to have access to effective mediation and debt restructuring mechanisms, for example, the NFE debt has been reduced from 7.5 percent to only 0.5 percent per year. The spread of COVID-19 The establishment of a company with limited funds by the Government Savings Bank and two other major shareholder organizations with the government sector in order to help people and small entrepreneurs. to take the land as collateral for the loan in the form of a mortgage or consignment The first year’s interest rate is 6.99-8.99 percent per year, with a reduced interest rate. Ready to be free of early payments for 1 year to alleviate debt problems. Reduction of interest on provincial retail loans (PICO Finance) for secured debt from 36% to no more than 33%, effective rate.
Source: Thai News Agency