Published on December 05, 2005

Another 32 people with personal loans from Easy Buy yesterday lodged complaints with police, accusing the company of charging them excessive interest.

Chatchawal Eo-sophon said he had repaid Bt17,000 – in 10 monthly instalments of Bt1,700 – on a Bt40,000 loan granted in April 2004. But an Easy Buy notice stated that he still owed Bt57,744, with only Bt90.67 in principal repaid. The man said Easy Buy sued him a few months after he stopped making payments in January this year, despite a notice from the company asking him to wait for a clarification statement.

Prawet Praphanukool, a lawyer who helped Easy Buy clients lodge their complaints, called on parent firm Siam A&C, which he said was owned by foreigners, to stop exploiting legal loopholes to take advantage of clients.

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