‘You Fight, We Help’ scheme extended for small non-bank debtors

Programme designed to address debt problems, improve debtors' liquidity, facilitate faster debt repayment

 

The government has extended its "You Fight, We Help" project, offering further support to small non-bank debtors.  

 

Deputy Finance Minister Phaophum Rojanasakul announced that the Cabinet has approved the extension with two key measures.

 

Measure 1: "Pay Directly, Preserve Assets"

This measure targets non-bank debtors in arrears as of October 31, 2024. It covers a range of loan types, including car loans (up to 800,000 baht), motorcycle loans (up to 50,000 baht), supervised personal loans (up to 100,000 or 200,000 baht, depending on terms), digital personal loans (up to 20,000 baht), and nano-finance loans (up to 50,000 baht).  

 

The scheme will reduce the repayment burden over three years to 70% of the original amount, with a 10-percentage-point interest-rate reduction throughout this period. Interest on the reduced portion will be suspended and subsequently waived entirely if the debtor fulfils the specified conditions.
  

Measure 2: "Pay, Close, Finish"

This measure aims to alleviate debt for individual non-bank debtors who are in default with outstanding balances of no more than 5,000 baht. 

 

Eligible debtors will be able to settle their debt immediately by paying just 10% of the outstanding amount.

 

To support non-bank lenders in providing this relief, the Ministry of Finance has secured a 50-billion-baht soft loan facility from the Government Savings Bank, available for three years. The loan amount allocated to each non-bank will be determined by the revenue losses they incur as a result of participating in the scheme.
  

"You Fight, We Help" is designed to address debt problems, improve debtors' liquidity, and facilitate faster debt repayment. This initiative forms part of the government's broader strategy to tackle household debt.  

 

Small non-bank debtors can apply for the scheme via https://www.bot.or.th/khunsoo or by contacting their creditors directly. 

 

The deadline for applications is April 30.

(2025/02/11-00:00)