Bangkok: The Department of Enforcement has formed a strategic partnership with the Student Loan Fund aimed at offering more accessible debt restructuring options for student loan borrowers. This initiative is set to provide much-needed relief to borrowers by reducing the incidence of civil lawsuits and preventing forced asset seizures.
According to Thai News Agency, Mr. Seksan Suksaeng, the Director-General of the Department of Enforcement, announced the signing of a memorandum of understanding between the Department of Enforcement and the Student Loan Fund (SLF). This collaboration seeks to streamline the debt resolution process, allowing borrowers to enter into restructuring agreements that ease their financial obligations. The agreement is a significant step towards reducing legal actions related to student loan defaults.
The partnership has introduced a more convenient process for borrowers interested in restructuring their debt. Borrowers no longer need to visit the Student Loan Fund Office to initiate a debt restructuring contract. Instead, they can register their intent via a QR Code available on the SLF website or visit the nearest Enforcement Office in their province. The Enforcement Office will gather borrower details and forward them to the SLF Office, which will prepare the necessary contracts. Borrowers can then sign the debt restructuring agreements at their local Enforcement Office, with officials from the Department of Enforcement acting as witnesses. The finalized contracts will be returned to the SLF Office and then provided to the borrowers.
For those seeking further information, the Department of Enforcement can be reached through its hotline at 1111, press 79, or at any Enforcement Office across the nation.