Apisak said debts owed to underground lenders must be tackled in order to lift these people out of poverty. They have re-entered the underground debt scene in the past due to a lack of a comprehensive package to help them deal with their debts. Debtors have to give more information about their debts in order for the authorities to help them negotiate with lenders. Those underground lenders found to be demanding excessively high interest would be prosecuted, with offenders facing up to two years in prison. The Finance Ministry will step up efforts to educate people under a financial literacy campaign that will help them keep track of their expenses and incomes, the minister said.

Source: The Nation Bangkok February 05, 2018 18:00 UTC