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คอลัมน์ นอกรอบ โดย คมน์ ไทรงาม ฝ่ายคุ้มครองผู้ใช้บริการทางการเงิน ธปท.
The income cannot pay the installment payment. What should I do? The economic recession due to the effects of the trade war, the drought and the outbreak of the corona virus (Covid-19) have a great impact on both the business and the public. Cause falling incomes and make debtors unable to pay fees. Also, in many situations that are difficult to predict the future. A small number of entrepreneurs require additional working capital. Be the liquidity to continue the business.
If you are a person experiencing such problems An important solution is to contact financial institutions (SorBhor.) To restructure the debt. Or adjust payment terms to be in line with reduced income
However, in the past, there were not many debtors who normally pay in installments Debt Restructuring Income Because you can understand that debt restructuring can only be done when it is bad debt (NPL) only and can misinterpret that after the restructuring, you will lose a record at the Credit Bureau (BCN), making it difficult to apply for future loans. Also, another part of the debtors do not know what debt restructuring is like. The main content of this article wants to talk about various ways to adjust the debt creation program for readers shortly.
– Good or bad debts can be adjusted. Don’t lose your NCB history.
The Bank of Thailand (BOT) monitors economic development Including the above negative factors closely And I saw that Songkran and the debtors can come to an agreement on debt restructuring together, it is very important for the Thai economy. And it will be an important immunity to help survive in the Covid-19 era. So Songkla has sped up action to proactively help debtors on time. Especially during the year 2020-2021
Previously, the ICO had focused on debt restructuring for bad loans, this time with preemptive debt restructuring to reduce the likelihood that good debtors will still pay. It normally flows into bad debt Debt restructuring, while still in a normal state, is not considered a problematic debt restructuring and does not have a detrimental effect on credit history.
For debt that is more than 90 days past due or already owed In general, once the debt restructuring has been completed and the new conditions have been paid continuously for 3 to 3 months, the status will adjust to normal. In which the credit database will be reported “Date of debt restructuring” What is not considered a blacklist. Loan considerations are also prohibited.
– Debt restructuring rules that should be known.
As I already mentioned that Debtors, regardless of whether they have a normal payment status or not It is within the scope to be able to adjust the conditions or improve the debt structure. Here, we present a standard stance for structural adjustment. Guidelines that debtors should know. To be used as an example when discussing Songkla
1) Extend the duration: Extending or extending the repayment period is one of the most widely used debt restructuring methods. Which will help online installment loads with lower income. For example, a commercial loan to SMEs that has a repayment period of 10 years has been repayable for 6 years to 4 years. Songkran may extend the repayment period also considering the age of the borrower. In the past, the average repayment period after debt restructuring was approximately 8 years.
2) Suspension of principal payment: Installment payment Usually consists of 2 parts: principal and interest. Therefore, to reduce the burden, another popular method is to stop paying the principal. For example, a loan agreement specifies equal monthly installments of 20,000 baht per month. In the current installment, it may consist of a principal amount of 8,000 baht and Interest of 12,000 baht. Suspension of the principal will make the remaining installments only 12,000 baht, which can consider how the suspension of principal payments for 3-6 months Regardless of the principal of the loan, this will have to pay a higher amount at the end of the contract ( increase in volume) or cause it to go into debt and accrue interest for a longer time.
Therefore, on the other hand, when the liquidity situation of the debtor improves. Or have money to invest but don’t use Bringing a lump sum “Toppo” Reduce debt before contractual maturity. It will decrease the interest burden And debt runs out faster In the past, the National Bank has campaigned to improve prepayment for fairer practices.
3) Reduce interest rates: Lowering interest rates on loans is another form of widespread debt restructuring. Due to lower interest rates on loans That is, the amount to be amortized on the principal will be higher AND when the principal decreases The interest burden will also decrease, for example, SMEs that apply for loans at an MOR + 2% interest rate are affected by the economy, resulting in an inability to pay at the original interest rate. You can apply to lower the interest rate on the loan to make it lower. Things that the Bank will consider include many factors such as the cost of the loan itself, the debtor’s payment history, Type of loan AND collateral, etc.
4) Increase or alleviate delinquent interest payments: In addition to announcing a reduction in interest rates on loans, many organizations have already done so. There is still a matter of adjusting the method of calculating the payment of unpaid interest. What the National Bank announced in early 2020 to allow it to calculate interest based solely on the actual default payment That aside from wanting to improve to be fair It also places more importance on the ability to pay off debt than on more tangible debt. That is, an interest adjustment can be made. But should it not be a burden to the debtor without reason, or is it the reason that the debt burden is so high that it cannot be paid? It became bad debt later
5) Increase working capital: Provided that future events are highly uncertain, National Bank realizes the importance of working capital (WC) as a necessary factor that helps to maintain the business in difficult times. Have a chance to recover quickly later. Therefore encourage high potential WC startup credit. Separating this WC loan classification from other loans, which may already be NPL, helps the company to have a normal status loan to use.
When requesting more WCs to be working capital On the borrower’s side, prepare reasons and estimates of expenses that will occur in the next 6-12 months, such as employee wages. Purchase of raw materials for the production of the product. In addition to other operating expenses, such as electricity, water, office fees, etc., that the Bank will use to consider the credit line, while the Bank of Thailand will consider the payment history as 1 year ago. As for the amount of principal and interest, what is the proportion of the additional WC requested, what is the total debt burden, etc.
6) Change the type of debt: Debt with high interest rates should be changed to lower interest rates, for example, SME debts use credit cards and cash cards as sources of working capital, high interest rates of 18% and 28%, or debtors with full O / D lines of credit. In such cases, it can be discussed with the Bank of Thailand that they will be able to switch from renewable loans at these expensive interest rates. To a term loan with a lower interest rate or not?
7) Ending with a lump sum: If you can find a lump sum, like the savings of borrower family members OR from the sale of property Although not as much as the amount owed Debtors can still negotiate a debt restructuring agreement with a partial discount that is enough to close the account complete. Which will reduce the burden of monthly payments to another lump sum. Normally, creditors will establish the payment within a short period of 6 months or only 1-2 installments. However, negotiating to close at a discount is quite difficult. In the event that the value of the guarantee is greater than the amount of the debt
8) Refinancing: Refinancing is the closing of loans from old banks, moving on to new loans from banks that offer better conditions, such as lower interest rates. Where the new creditor pays off the old debt first In Thailand, people are already familiar with refinancing mortgage loans and commercial loans with certain levels of collateral. In addition, the National Bank has supported the creation of a refinancing market for credit card debt, cash cards, personal loans (card debts), which in early 2020, the Bank launched to offer more card products refinancing, including the Government Savings Bank that accepts Refinancing the debt of the card for debtors with financial discipline and a good payment history.
– Debt adjustment spells: stretch – break – reduce – increase – increase – change – close – refund
Debt restructuring is a very important issue for all sectors. Both in the case of individuals and companies that need to act in a timely manner. Because you will be immune to withstand the effects of the Covid-19 virus outbreak and other impacts, helping debtors in various sectors pay their debts online with their reduced income. No default payment
However, no miraculous achievement can be expected just by reciting the murmur of the self. So I The proposed debt adjustment charm above 8 is just a formula that debtors should take with them to consult with creditors to find a solution. To benefit both sides of the economic disaster that everyone is facing now. That is, the debtor will reduce the burden of paying the debt. Make it possible for you to continue your business or continue living. At the same time, it helps creditors to no longer have bad debts. It is important to hurry up and negotiate as soon as you are in good debt. Before turning into bad debt, it will be more difficult to fix
– Highway debt Additional contact methods. Bank of Thailand to find a solution to the Covid-19 era debt issue
During this period, social distancing measures to reduce the spread of Covid-19. As a result, many people have to work at home OR inconvenience when traveling, contact creditors. In addition to reducing or closing branches that provide service. Songkran’s client does not work very well, however, debtors can still contact to settle the debt from home. By looking at the support measures announced by the Public Relations Office and the online contact or call center at https://www.bot.or.th/Thai/FinancialInstitutions/Pages/FI_Support.aspx
In addition, the Financial Consumer Protection Center (National Bank) has opened an online channel. “Expressway Debt Solving” is available at http://www.1213.or.th/en/Pages/ Expressway Debt Solving .aspx As a complementary channel for citizens and businesses to report on their debt restructuring needs. The information received through this channel will be sent to the Song of the specified user “We will solve the debt Combat the economic dangers of Covid-19 together”.
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