Registration has started today for the program “ Quick Debt Closure, Moving Forward ” to assist those with debts not exceeding 100,000 baht in clearing bad debts and repairing credit histories, including eligibility checks and conditions for qualified participants.
On 5 Jan 2025 GMT+7, reporters noted that today marks the first day for registration in the “Quick Debt Closure, Moving Forward” program. The Ministry of Finance, the Bank of Thailand (BOT), and financial institutions have jointly created this special mechanism to help small debtors resolve bad debts and restart their financial lives.
To participate in the program, debtors must meet the following qualifications:
1. Be an individual debtor.
2. Have non-performing loans (NPLs) of all credit types with all financial service providers totaling no more than 100,000 baht per person as of 30 Sep 2025 GMT+7.
The Bank of Thailand has opened registration for the “Quick Debt Closure, Moving Forward” program starting today (5 Jan). Debtors meeting the above criteria can register to join via:
1. The BOT website (www.bot.or.th/cleardebt)
2. The Sukhumvit Asset Management Company Limited (SAM) website (www.sam.or.th)
3. Participating financial institutions. Initially, the program covers debtors of commercial banks and affiliated financial business groups of commercial banks.
Under this program, Sukhumvit Asset Management Company Limited (SAM), acting as a Social Asset Management Company (Social AMC), will purchase unsecured bad debts from the target debtors and restructure them under more lenient terms, such as reducing part of the principal or waiving all interest and fees if conditions are met. This aims to help debtors repay debts more effectively, close debts sooner, and improve their credit bureau records to facilitate access to formal credit again. Debtors can choose repayment plans matching their ability, including:
1. Pay a lump sum to settle the debt immediately by paying a portion of the debt.
2. Pay in installments over up to three years with no interest during the program period.
After registration, debtors will be contacted by SAM or its representatives. For further inquiries, contact the BOT (BOT contact center 1213), SAM (call center 1443, press 6), or the original creditor’s call center starting from 5 Jan 2026 GMT+7.