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Thai military steps in to settle over half a million informal debt cases

The military has helped in mediating informal debts owed by over half a million people and has managed to return to the debtors over 5,000 land title deeds involving more than 20,000 rai of land held by their creditors as collateral according to Thai News agency ThaiPBS Household debt tripled since 2005 In 2005, household debt amounted to 3.4 trillion baht. Today, the amount has more than tripled. Thai households now owe 10.8 trillion baht to financial institutions. Consumer borrowing is accelerating significantly in Thailand and around a quarter of consumers are having trouble making repayments on their debts, with credit cards and car loans the main areas of concern, according to an FT Confidential Research survey. According to Bank of Thailand data on household borrowing in 1Q18, the ratio of household debt to GDP dropped from 78.0 percent in 4Q17 to 77.6 percent (while the seasonally adjusted figure stood at 77.7 percent). However, the outstanding household debt in 1Q18 stepped up to THB12.17... If you wish to read this full breaking news headline article, Thai military steps in to settle over half a million informal debt cases, simply click on 'Read full story' below, but 1st please give 'Phuket Hotel Deals' a 'LIKE' or 'SHARE' before you visit 'Thailand Business News'. Thank you Thai military steps in to settle over half a million informal debt cases

 

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