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Published on November 3, 2007

The company surveyed 1,450 households from October 8-19 on the debts of Bangkokians.

It found that 21.1 per cent of households with monthly incomes lower than Bt15,000 had underground debts, 52.6 per cent of them had credit-card debts, 15.8 per cent owed on motorcycle purchase and 5.3 per cent were paying mortgages.

But households with monthly incomes over Bt15,000 said they owed nothing to loan sharks.

Forty per cent of them have credit-card debts, 28 per cent of them have mortgages, and 24 per cent of them are paying off car loans and 4 per cent motorcycle loans.

The prime cause of Bangkok household debt is the cost of living and education, which together account for 37.2 per cent. Then come consumer goods, cars, motorcycles, land, property, appliances and mobile phones.

Other contributors are medication and investments.

Monthly instalments average Bt9,528.38 and interest 8.05 per cent. Most will be paying instalments for another five years.

Broken down by income, households earning less than Bt15,000 per month pay monthly instalments of Bt4,458.05 at 8.95-per-cent interest, those earning between Bt15,000 and Bt30,000 pay Bt10,543.27 at 5.8 per cent, those earning Bt30,000-Bt50,000 pay Bt15,881.82 at 5.4 per cent, and those earning Bt50,000-Bt100,000 pay Bt20,000 at 4.2 per cent.

The Nation