Thai People in Massive Debt are we looking at another Thai Tiger falling?

Thai people still enjoy lending through loan sharks and the legal lending system were almost equal at 49.6 per cent and 50.4 per cent respectively.

Thai people with low income less than Bt5,000, mostly from loan sharks can not even pay their debt back.

Seventy per cent of low income people said they had failed to repay their debts in the past year and risked being intimidated and assaulted by lenders.

Reasons for escalating debts are the higher cost of living at 23.3 per cent, school expenses for children at 22 per cent, buying property and assets such as houses and cars at 13.5 per cent. and other new debts at 10.3 per cent.