A FAIR launched by the Justice Ministry to accelerate debt settlement is taking place this weekend as total household debt has now reached over 16 trillion baht or more than 90% of the Gross National Product (GDP), Naewna newspaper said late afternoon today (Dec. 21).
Justice Minister Thawee Sodsong presided over the opening of the “Debt Settlement Fair, Creating a Path of Justice” event at Ratchaburi Direkrit Building within the Government Complex, with this being the second year it is being held.
A total of 29 financial institutions, including the student loan fund agency, are participating in the fair with 54,626 debtors invited to attend.
These debtors were divided into two groups, with 29,413 still to be sued while legal proceedings have been completed for the remaining 25,213 with their debts totalling 7.190 billion baht.
There are various activities at this fair including debt mediation, debt settlement discount, interest and installment discounts and extension of repayment period.
There will also be debt resolution events in all 76 provinces nationwide throughout 2025.
As total household debt has climbed over 16 trillion baht, or over 90 percent of GDP, the proportion of non-performing loans too is tending to increase.
There are currently over 4.1 million civil and bankruptcy cases with assets worth 17.69 trillion baht. Of these 3.2 million are civil cases still in the courts while judgement of 810,000 cases are currently being enforced. In addition there are 53,000 bankruptcy cases with the debtors’ assets to be seized and auctioned off to repay creditors in keeping with the verdict.
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Photos: Naewna
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