How to Deal with Informal Debt

People sometimes turn to informal loans to fund a business, cover everyday expenses or meet other urgent needs. However, informal loans often carry high interest rates, which can make repayments unaffordable and create difficult financial problems. If you have informal debt and are unsure where to begin, consider these five possible steps:
1. Negotiate with the creditor, for example by asking for a lower interest rate.
2. Find funds to settle the debt, such as by seeking help from family or selling an asset.
3. Consider a regulated loan from a bank or non-bank provider, such as the Government Savings Bank, the Bank for Agriculture and Agricultural Cooperatives or Muangthai Capital Public Company Limited.
4. Ask an intermediary to help mediate. You may contact the Office of Rights Protection, Legal Aid and Legal Enforcement under the Office of the Attorney General at 1157.
5. Seek advice or submit a complaint to the Ministry of Finance's Informal Debt Assistance Center at 1359.
               Customers interested in a lawful loan from a provider supervised by the Bank of Thailand may submit documents for consideration at a Muangthai Capital branch near them, with more than 6,000 branches nationwide at the time this article was published.
Reference: Financial Consumer Protection Center, Bank of Thailand.

Source: https://netpracharat.com/News/safe/Detail.aspx?id=332