The Bank of Thailand has added measures on retail loan restructuring as part of its third phase of debt relief for individual borrowers, aiming to ease hardships caused by the pandemic.
The central bank started implementing new measures for debt relief on Friday, including restructuring consumer loans.
The rules allow auto hire-purchase loan and car title loan borrowers, including motorcycle owners, to return their vehicles to creditors if they cannot repay debt because of the outbreak.
If a vehicle is returned and borrowers have debt outstanding, the central bank asks financial institutions to help restructure the remaining debt on a case-by-case basis.
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