What types of assets can or cannot be seized? If there is no assets for seizure, what can creditors



Law and enforcement on the seizure of assets is essential not only for creditors and debtors but also everyone. Nowadays, there are means that help us do business or purchase things more easily whether by credit card or various credits. This might lead us to be unknowingly in debt.

What causes assets to be seized?

Seizure of assets can occur only when there is a default on payment. The creditors sue the debtors in court and get a judgment. After that, the debtors fail to pay off the debts within the period prescribed by the court. At that time, the court will issue a warrant for the seizure of the debtors’ assets.

However, only the Legal Execution Department officers are responsible to seize the debtors’ assets and file a request to the court for an auction sale of seized assets in order to use such money to reimburse the plaintiffs or creditors.

What types of assets can be seized?

Even if the creditors win the case, this does not mean that all the debtors’ assets can be seized. So, let's take a look at what the creditors can rightfully seize or what deems as illegal when it is seized.

Seizable assets include:

  • Valuables, jewelry —e.g., diamonds and gemstones, watches, and valuable collectibles;

  • Houses, and lands. Even if they are still mortgaged, they can be seized as well;

  • Cars or motorcycles owned by the debtors which are not professional equipment;

  • Money in deposit account or dividends from investments;

  • Investment assets —e.g., stocks gold, bonds or funds;

  • Salary of the debtors who are employees of a private company or state enterprise. However, the debtors’ income must be more than 20,000 Baht per month to be seized.


Unseizable assets include:

  • Personal items —e.g., clothes, tables, or chairs with a total value of not more than 20,000 Baht (if they are valued at more than such amount, they can be seized);

  • Professional equipment with a total value of not more than 100,000 Baht (If they are valued at more than such amount, they can be seized);

  • Non-transferable assets —e.g., financed cars or motorcycles;

  • Animals, objects, and appliances that are necessary to act as assistance instead of the debtors’ organs;

  • Salary, wages, retirement pensions, retirement benefits, and pensions of the debtors who are government officials cannot be seized. If they are employees of a private or state enterprise and the salary is less than 20,000 Baht, it cannot be seized as well;

  • Allowances;

  • Income given by other people for a living but must not be more than 20,000 Baht per month (If it is more than such amount, it can be seized);

  • Retirement benefits or other similar income of employees who are not government officials with an amount not more than 300,000 Baht (If it is more than such amount, it can be seized);

  • Funeral assistance money.


What can we do when the assets are going to be seized?

If we are sued by the creditors and our assets are going to be seized, there are several options that can be done as follows:

  1. Repayment When problems arise from the fact that we owe debts, the easiest way is to pay off the debts to the creditors in a complete amount.

  2. Defenses Defense in the court is another option that can be done. If we have enough reasons, there is a chance that the court will help negotiate for better benefits. This includes being in debt unfairly whereby we can file a lawsuit against the creditors. The court will order a temporary abatement of action so that we can continue to fight the case.

  3. Compounding debts The debtors have the right to request a compromise with the creditors. If the seized assets are not sold at auction

  4. Make sure the seized assets is correct If the debtors lose the case and reach the process of seizing the assets, they should also check whether the seized assets are properly processed or appraised so that they will not lose the benefits in this part.


What if the debtors have no assets to be seized at all, what to do?

If the executing officers have begun a process (within 10 years from the date of the judgment), ,and during that time, the debtors do not have any assets that can be seized, the executing officers will not be able to seize any assets.


However, It does not mean that seizure of assets will not occur to the debtors at all. If ,in the future, it is found that the debtors have assets that can be seized, the executing officers can proceed with the seizure of such assets immediately without expiration time until the debtors pay off the complete amount of debts.

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