Debt Relief Program Cuts Principal by 30-50%
A debt relief program offers eligible borrowers up to 50% principal reduction if they settle by year-end, with an alternative 30% reduction available through 34-month installment payments with zero interest.
The Sukhumvit Asset Management Company (SAM) is partnering with Talinchan Civil Court to address household debt issues by hosting the third "Clear Debt, Move Forward" event on September 19-20, 2569. The program targets NPL debtors with outstanding balances not exceeding 100,000 baht per person across Bangkok districts and Nonthaburi Province. Eligible borrowers must have missed principal or interest payments for more than 90 days as of September 30, 2568, and are not bankrupt or on government sanction lists. The program offers two relief measures: borrowers can either make a lump-sum payment by December 31, 2569, with a 50% principal reduction, or opt for installment payments with a 30% principal reduction and zero interest extending to June 30, 2572. For example, a 10,000 baht debt would be reduced to 5,000 baht in the first option or 7,000 baht payable over 34 months at approximately 206 baht per month under the second option. SAM's Managing Director Narthanari Rattapat emphasized that successful debt settlement improves credit bureau records and financial standing, urging borrowers to take advantage of current terms as conditions may change in 2570. Borrowers unable to attend can register through five channels: the SAM Plus app, LINE official account @samsocialamc, the Bank of Thailand website (bot.or.th), the SAM website (sam.or.th), or SAM Contact Center at 1443.
