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Justice Ministry helps restructure household debts amounting to Bt921.6 million


The Justice Ministry has helped 4,130 people settle debts of Bt921.65 million at the first “Festival for household debt settlement”, held at the Bangkok International Trade & Exhibition Centre on Friday and Saturday.

Justice Minister Somsak Thepsuthin said on Monday that the event was a “success”.

Somsak said more than 5,000 individuals came to seek help from the ministry to negotiate debt settlements with their creditors, and negotiations were successful for 4,130 debtors, resulting in the restructuring of Bt921.65 million in debts.

Somsak said the event was a result of Prime Minister Prayut Chan-o-cha’s suggestion to government agencies to help settle debts for sensitive groups of people affected by the Covid-19 situation.

Justice Ministry helps restructure household debts amounting to Bt921.6 million Somsak said his ministry can help negotiate restructuring of four types of debts: student loans, loans for purchase of motorcycles and vehicles, credit card debt and personal loans, and debts of government officials.

Somsak said the Legal Execution Department and the Rights and Liberty Protection Department worked with the Student Loan Fund and 16 financial institutions to negotiate and settle debt restructuring during the two days.

The minister said 2,186 debtors sought help for restructuring debt worth Bt132.2 million in cases that have not yet been sent to court, and all the cases were dealt with successfully.

He added that 1,944 debtors had sought help for debt restructuring in cases in which courts have made rulings. The ministry helped settle 1,879 cases totalling Bt798.44 million, Somsak added.

During the event, exhibitions were held by the Legal Execution Department, the Rights and Liberty Protection Department, the Justice Fund, the Student Loan Fund, and the Securities and Exchange Commission. People also received legal advice related to their daily lives during the two-day event, Somsak added.

Published : February 28, 2022

By : THE NATION