Mr. Payong Srivanich, President of the Thai Bankers Association, revealed that the Thai Bankers Association and its member banks support government policies aimed at restructuring debt across the board. They are accelerating efforts to address the debt issues of vulnerable groups, including individual borrowers and small and medium-sized enterprises (SMEs), through the 'You Fight, We Help' project, which has been in operation since December 12, 2024. They are now ready to provide additional assistance to borrowers under Phase 2 of the 'You Fight, We Help' project, which has revised the conditions of the previous measures and introduced new measures to better support vulnerable borrowers amid a highly uncertain economic environment. There remains a significant number of vulnerable borrowers interested in participating in the project.

Measure 1: 'Direct Payment, Preserve Assets' expands the eligibility criteria for borrowers to include:

1. Borrowers with overdue payments exceeding 365 days. 2. Borrowers who previously had a payment history of less than the specified criteria in Phase 1, meaning they had overdue payments of 1-30 days and had restructured their debt since January 1, 2022, to assist borrowers with lower loan amounts in retaining their collateral assets such as homes, vehicles, and businesses.

Measure 2: 'Pay, Close, Finish' increases the debt ceiling for individual borrowers with non-performing loans to provide greater assistance. 1. Unsecured loans, such as personal loans and credit cards, will have a debt ceiling of no more than 10,000 baht per account. 2. Secured loans, which have already enforced collateral and have a credit limit not exceeding the specified amounts (home loans or SME loans not exceeding 5 million baht per account, car loans not exceeding 800,000 baht per account, and motorcycle loans not exceeding 50,000 baht per account), will have a debt ceiling of no more than 30,000 baht per account. This allows these borrowers to change their status from 'non-performing loans' to 'closed debts' and start anew more quickly.

Measure 3: 'Pay, Cut, Principal' is a new measure for unsecured loans with outstanding debts not exceeding 50,000 baht per account and classified as non-performing loans. It involves restructuring the debt with installment repayment terms (term loan) and paying 2% of the outstanding principal over a period of 3 years. The installment payments will go towards reducing the principal amount, while interest will be suspended and waived during the measure if the borrower can meet the specified conditions. This will help alleviate the debt burden for borrowers both currently and in the future.

The 'You Fight, We Help' project serves as a starting point for sustainable and tangible household debt solutions, aligning with the responsible lending measures of the Bank of Thailand. It is a temporary measure lasting up to 3 years, sufficient to support and complement the government's subsequent measures, particularly those aimed at income generation, enhancing competitiveness, and providing essential welfare, as well as addressing informal economic issues and informal debts, enabling borrowers to recover effectively and not just addressing the symptoms of the problem.

Borrowers interested in participating in the measures under the 'You Fight, We Help' project for both Phase 1 and Phase 2 can find details and apply for the project at https://www.bot.or.th/khunsoo from today until September 30, 2025, or contact the branches of participating financial institutions for more information at their call centers or the BOT contact center at 1213.