Escaping the debt cycle

Quick Summary:

A 25-year-old woman's struggles with debt of 307,000 baht went viral on social media recently when she asked for advice on how to manage what she owed.

She earns 22,000 baht per month, with 6,000 baht going towards rent and 3,000 baht monthly for motorcycle loan payments.

For the long-term option, the annual interest rate is 5%, resulting in a monthly debt instalment of 5,300 baht.

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Article Details

Category: EconomyBusiness

Markets: ThailandOman

Topics: Financial Interest Rates Clinic Borrowers Loans Baht Monthly Loan Debt Bank

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-15 @ 05:47:00 (2 days ago)

News Timezone: GMT +8:00

News Source URL: bangkokpost.com

Language: English

Article Length: 1319 words

Reading Time: 8 minutes read

Sentences: 58 lines

Sentence Length: 23 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bangkok Post

News ID: 21617284

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About Bangkok Post

Main Topics: EconomyBusiness

Official Website: bangkokpost.com

Update Frequency: 15 posts per day

Year Established: 1946

Headquarters: Thailand

News Last Updated: 6 hours ago

Coverage Areas: Thailand

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #66

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