Woman Shocked to Face Asset Seizure After Signing Debt Restructuring Agreement with SNSC, Loses Money for a Year with No Notification
A woman who signed a debt restructuring agreement with Thailand's Student Loan Fund (SNSC) and paid regularly for a year faces unexpected asset seizure with no prior notification, leaving her confused about contradictory system records.
On May 9, the "Drama-addict" Facebook page posted a complaint from a follower who signed a debt restructuring agreement with the Student Loan Fund (SNSC) only to discover she faces imminent asset seizure despite having paid according to the agreement and losing money for a year. The complainant explained that she visited the SNSC office at the AIA building in February of last year to arrange the debt restructuring, after which she made monthly payments through the SNSC app. This year, she received a court order appointing an SNSC representative as an enforcement officer. When she called to inquire about what happened, the officer informed her that asset seizure would proceed. She was shocked and confused, as the officer explained that the system showed the debt restructuring was unsuccessful, but nobody had notified her—not through the app or any other channel. The officer recommended creating a new online agreement using the new system, but accessing it proved difficult. It turned out she couldn't submit the new agreement because it was still under review, and she was told to cancel the old one first. However, the enforcement officer claimed the previous agreement never succeeded, while the system showed something different. When she checked the contract status, it indicated she never made an agreement at all. She expressed her frustration, saying SNSC has never made things convenient for borrowers, and the experience has been stressful—wasting time traveling to the AIA building for free, losing money for a year, and now facing potential asset seizure. She appealed for help from authorities, asking what people in similar situations should do.
