Phuket promotes debt relief for small borrowers
Eligible borrowers with non-performing loans of up to B100,000 may qualify for principal reductions of up to 50% under a scheme being publicised by Phuket officials.
Phuket officials are stepping up publicity for a debt-relief scheme that offers eligible borrowers with total non-performing loans of up to B100,000 principal reductions of up to 50%.\n\nThe project, officially titled “Pay Off Debt Quickly, Move Forward”, was discussed at Phuket Provincial Hall on Thursday, 24 September, at a meeting chaired by Phuket Vice Governor Suwit Phansengiam. Representatives of Sukhumvit Asset Management (SAM) and other agencies attended.\n\nUnder the scheme, implemented by SAM in cooperation with the Ministry of Finance, the Bank of Thailand and other agencies, qualifying borrowers can choose between two options. “Pay, Close, Done” offers an immediate 50% reduction in principal if specified payment conditions and deadlines are met. The second option provides a 30% reduction, with the remaining balance repaid without interest over up to 36 instalments.\n\nEligible debts include unsecured retail debt, such as credit-card and personal-loan debt, as well as outstanding debt from loans that were previously secured. The debt must have been overdue for more than 90 days as of 30 September 2025. Applicants must also meet other requirements, including not being bankrupt and not appearing on the Anti-Money Laundering Office Sanction List.\n\nPhuket Province said it would work with SAM and other agencies to publicise the scheme through provincial and affiliated government channels. Borrowers can seek further information from the SAM Contact Center on 1443, press 6, or the Bank of Thailand on 1213.
