New regulation on debt collection
An announcement in the Royal Gazette yesterday (August 23, 2019) declared that anyone who engages in the business of debt collection can collect money from the borrower no more than once a day, the Thai-language Daily News reported.
The new regulation, which will be enforced on November 21, 2019, also prevents debt collectors from insulting the debtee or threatening use of violence.
Debt collection can only be done during 8.00 a.m. and 8.00 p.m. from Monday to Friday, and from 8.00 a.m. to 6.00 p.m. on public holidays.
Debt collectors are prohibited from contacting third-parties, unless that third-party was specifically designated by the debtor.
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