29 Sep 2021 Ms. Suwannee Jesadasak Senior Director The Bank of Thailand (BOT) said that in mid-October 2021, the BOT is preparing to issue additional measures to support debt consolidation between financial institutions. for unsecured loans with secured loans such as personal loans or credit card loans combined with home loan or car loans, etc. It is expected that if unsecured loans can be combined with secured loans This will help reduce the interest burden to be lower than 10%.
In this regard, there will be more incentives to implement measures for financial institutions, such as the issue of classification criteria or to relax the criteria to facilitate the issuance of debt consolidation measures. and measures to incentivize debtors, such as prohibiting financial institutions from charging prepayment fees before maturity
“Currently, there may be non-banks. that do not have collateral debt When this measure is in place, the debtor may be transferred to a financial institution. Which the Nonbank itself had to let go of the debtor cannot be forced to close the original debt by this time The Bank of Thailand will also increase regulations on banning fees for early repayment of loans,” Ms Suwannee said.
Ms. Suwannee said that under conditions of high risk Must focus on the selection of measures that meet the point. and does not have any negative impact or side effects on the financial system while preventing risky and vulnerable debtors from being pushed outside the system which debt restructuring measures with additional incentives Measures to raise new money Debt consolidation measures will be a solution to the problem on the spot.
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