Bank of Thailand (BOT) to Tackle High Household Debt

In line with Bank of Thailand's bid to deleverage high debt in certain segments, debt management agency is expected to be established by 2017. The agency will act as a mediator between debtors and lenders to ensure that the household debt level (under control) and will not affect the overall economic and financial stability of the country.

Establishment of debt management agency is through the initiative of BOT governor Dr Veerathai Santiprabhob. This is to assist the debtors who are unable to pay back their credit card debt and/or personal loans to their multi-lenders, commercial banks in particular, to settle their debts through the debt management program (DMP).

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