Bangkok 4 May- Credit Bureau Information Center warn the new generation Gen Y beginners are afraid of the risk of bad debt rising to 600 billion baht, keeping an eye on the car loan group with severe symptoms.
Mr. Suraphon Opassathien, President of the National Credit Bureau Co., Ltd. (Credit Bureau Information Center), revealed that the situation of bad debt problems in the category of cars is becoming more worrisome. At this time, we see signs that the group of debtors is about to become a bad debt or overdue for 1-2 installments. Total debt 600 billion baht from the total debt in the system 13.2 trillion baht of credit bureau information
The debtor who needs to be especially careful is the debt of the car group. Because seeing signs of installment installments since 2020-2021 due to economic slowdown problems Therefore, there are problems with installment payments that continue until 2023. Most of them are Gen Y who have just graduated and entered the labor system.
According to data from the credit bureau, it was found that there were car debtors in installment payments for 1-2 installments in the first quarter of this year. Representing a debt value of approximately 1.9 billion baht, an increase from the same period last year, with a debt value of 1.3 billion baht of the total debt value of 2.6 trillion baht, while the debtors in the red group Overdue for more than 90 days or a group of bad debts (NPL) with a debt value of 1.8 billion baht, an increase from the first quarter of 2022 with a debt value of 1.5 billion baht
Therefore, the problem of car debt will become a big problem for the new government and the Bank of Thailand to find a way to solve the problem Especially the debtor in the part of the nonbank. which is not under the supervision of the BOT, thus proposing to set up a debt resolution center spread across all regions. I repeat, once the debt has been created, it must be resolved. The best solution is debt restructuring by negotiating with the bank to extend the repayment period Especially during the rising interest rate There may be additional burdens, contact 1213, the BOT’s debt relief expressway.-Thai News Agency
Source: Thai News Agency