Factors Influencing the Progress of the Excessive Interest Rate Prohibition Act, B.E. 2560 in Solving Informal Debt Problems

Abstract

This research studied the progress of the Excessive Interest Rate Prohibition Act, B.E. 2017 (2017), in solving informal debt problems. This was intended to provide guidance on solving the problems and obstacles of the authorities in applying the laws of the excessive interest rate prohibition act, B.E. 2017 (2017). It was qualitative research by collecting data from in-depth interviews from key informants. It selected specific interviews and conducted formal interviews with a sample related to the enforcement of this law. It included four interviews which were the head of the excessive interest rate prohibition act, B.E. 2017 (2017), an administrative person and two staff from an assistance center for the debtor unjustified. The interview was an open-ended question about progress in law enforcement and various obstacles. The results showed that the excessive interest rate prohibition act, B.E. 2017 (2017), had not solved the problem of informal debt as much as it should have. Because government officials cannot pursue criminal charges against the perpetrators. The lack of cooperation from debtors in the inquiry has also hindered the process of the investigation. The law also does not cover informal lending through technology systems, resulting in more cumbersome mistreatment of creditors. There has also been the lack of personnel to be in charge of helping debtors directly. Therefore, it is appropriate to resolve the issue in order to ensure that debtor protection is as effective as possible.