Login | Create Account Poll Currency Weather Facebook Youtube Search

Over B33mn of title deeds returned to creditors of informal debt

PHUKET: Phuket’s Region 8 Police held a ceremony on Friday (Mar 29) in which over B33 million worth of title deeds were transferred back to creditors of informal debts due to failed repayments.

By The Phuket News

Saturday 30 March 2019, 02:44PM

Informal debt – debt owed by individuals to creditors who are not members of financial institutions or state agencies – has long been a major financial problem in Thailand. Living in poverty and working in the informal economic sector without adequate social welfare keeps people besieged within the informal debt cycle endlessly with exorbitantly high interest rates of 5–20% per month.

Maj Gen Chalit Thinthanee, Region 8 Police Deputy Commander, presided over the ceremony with Phuket Vice Governor Supoj Rotreuang Na Nongkhai and local residents at Chaijinda Auditorium of Region 8 Police in Mai Khao.

Maj Gen Chattawat said, “Government policy requires that the informal debt problem, which is a major problem in the country, is resolved as soon as possible. The Royal Thai Police have been tasked with the responsibility to resolve the issue.”

Laguna Golf Phuket

Region 8 Police – the police division overseeing Provincial Police in seven of the 14 Southern Thailand provinces: Phuket, Phang Nga, Krabi, Ranong, Chumporn, Surat Thani and Nakhon Sri Thammarat – have returned title deeds to creditors on five previous occasions for a total of value of B285,208,340.

Assets included a total of 871 rai of land, 98 cars and 461 motorcycles transferred back to 396 creditors.

On this occasion, Region 8 Police, led by Commander Lt Gen Pongwut Pongsri, have helped return a total of B33,015,600 worth of title deeds to creditors. This comprised a total of 104 rai of land, three cars and one motorbike returned to 82 creditors.



Comment on this story

* Please login to comment. If you do not have an account please register below by simply entering a username, password and email address. You can still leave your comment below at the same time.

Comments Here:
Comments Left:
# Characters

Be the first to comment.

Have a news tip-off? Click here


Phuket community
Phuket Police say investigation into Finnish girl’s death inconclusive

Whether she was a 'girl' or a woman' is immaterial, the fact that she has died is the cr...(Read More)

PPRP ‘seals deal’ to form coalition govt

So, 'translating' what the military sources are saying is that a few civilian parties are al...(Read More)

PHUKET XTRA: VIDEO: Road rage axe attack? Drugs found in rectum! Dark web bust sees 50 kids saved! || May 23

Did the police contact the Phuket based foreign Inspector .... for his expertise on how to extract t...(Read More)

May 4 approved as Coronation Day

...How many people he thinks do really benefit from those holidays ?Most Thai's are working anyw...(Read More)

Phuket braces for heavy weather, small boats advised to stay ashore

All chinese passengers, brace for heavy sea inpact before boarding coming days! You are warned! Rem...(Read More)

Phuket braces for heavy weather, small boats advised to stay ashore

Well, mr Wiwat, just covered himself (' I told you, not my responsible any further'). When...(Read More)

Four dead as pickup truck slams into tour bus heading to Phuket

Haha...driver to check if had taken drugs/alcohol. How silly is that? Riding on the back of the tru...(Read More)

One billion baht found in teenage drug dealer’s accounts

Wow, a 19 years old thai man, in drugs business with more than 1 million thb in his personal account...(Read More)

Government clamps down on surging illegal Thai migration

And, day in, day out, many thai having been illegal staying/working in Korea of course return to Tha...(Read More)

Men arrested for axe-wielding road-rage attack on ambulance

These two morons are seriously primitive in their mental capacity and cerebral development. No way ...(Read More)