Ngern Tid Lor Public Company Limited, or TIDLOR, led by Piyasak Ukritnukun, Managing Director, said: “Since our inception, Ngern Tid Lor has provided financial services to low-income clients with careers as freelancers and others classified as underbanked customers.
The opportunities for our target customers to access funding approval from banks are limited. There is a persistent problem of financial inequality with no concrete solution. Part of the problem is caused by the fact that customers are unable to establish good creditworthiness from their financial history because the financial institutions that will offer them loans are not listed as members of the credit bureau. While the overall outlook appears positive for customers with no credit history as a borrower or payer of irregular debt, financial services provided by financial institutions other than (non-bank) credit bureaus cannot refer to good financial records for clients. Therefore, customers are not eligible to establish a good financial history, as banks and other financial institutions are unable to use a customer’s debt payment record as a reference for future loan approval. .
“Additionally, in the competitive sphere of the non-banking sector, some service providers avoid registering their businesses as clients of credit bureaus in order to reduce service costs. Additionally, some service providers take for granted the misunderstanding of credit bureaus among the public by promoting the services through catchy texts such as “No credit bureau required” to convince customers to use the service. . Such claims mislead customers and prevent them from strengthening their financial solvency. »
Recognizing the problems, Ngern Tid Lor launched an “Easy loan, no guarantor required” TV commercial and online media campaign to convince borrowers who made financial mistakes in their financial records to fix their story and start accessing loans again. financial services with sustainability and with recognized credit bureau knowledge, understanding and benefits.
The commercial content is focused on simple credit loan application for car and van owners who do not need credit or guarantor as part of the application process to ease the concerns of loan seekers. The content aims to educate the public on how to fix unreliable creditworthiness which, metaphorically speaking, looks like a scar, and how to generate creditworthiness and responsible debt payment records, so that the scars are scarred. fade.
Also, borrowers are eligible to get the maximum benefits from the financial services of Ngern Tid Lor who is listed as a member of the credit bureau. As borrowers with successful loan approvals, customers have the right to reapply for financial loans from banks. They can gradually access loans at lower interest rates. Trust is established from payment records responsible for customer debts.
As of mid-2022, more than 90% of borrowers in Ngern Tid Lor’s client database have good debt payment histories, while bad debtors account for only 1.39%, reflecting a good commitment and good discipline in paying the debt.
Credit borrowers benefit from a “TIDLOR Card” where cardholders pay no interest when the card is not used to withdraw cash. “TIDLOR Card” allows cardholders to withdraw money against their approved lines of credit through more than 50,000 ATMs nationwide, 24 hours a day, helping customers easily access funds if needed. The card also reduces the process of applying for a new loan and travel costs to branches.
The National Credit Bureau, or “Credit Bureau”, is established to be the key organization providing a high quality credit information service to financial institutions as well as collecting debt payment records from borrowers who are customers of commercial banks or members. Credit bureau services cover the provision of borrower records where members have access to the system to recall records for use in managing financial loans. When borrowers wish to reapply for another loan, members of the financial institution are permitted to verify certain clients’ debt payment records to be used as a reference for applicants’ ability to incur additional debt under the terms of the agreement. Financial institution. The information is used in connection with other reimbursement factors, including income and collateral.
Therefore, even borrowers who are self-employed or have a job with no regular source of income can have creditworthiness and be credited with a good debt repayment record in their financial history. In case the borrowers have a bad debt payment record, the current debt payment commitment for at least 1 year or as agreed in the contract will reward the good repayment record.
The good record appearing on the credit bureau database provides opportunities to repair bad credit records and build better credit history that enables next loan application from more than 100 financial institutions registered as members from the credit bureau office. Additionally, customers with newly upgraded records are eligible for lower interest rates and more suitable terms.
Borrowers benefit from the financial services provided by members of the credit bureau because membership requires proprietary business conduct requirements that non-members are unable to meet. Membership in the credit bureau helps prevent customers from falling victim to the misconduct of some service providers operating business without transparency to take advantage of consumers.
This reflects Ngern Tid Lor’s intention to create financial opportunities and improve the quality of life for the public to access legitimate financial resources and obtain business recovery loans and mitigate risk. to fall prey to loan sharks.
The “Easy loan, no collateral required” advertising campaign can be viewed on YouTube ngerntidlor and Facebook ngerntidlor. For more information, please visit www.tidlor.com or contact the call center on 088-088-0880 within 24 hours.