Yesterday, the Parliament passed the Law on interest write-off and reprogramming
of debts and expenses of natural persons. Over 10m euros of citizens' debts will be
written off.
Interest on all cases given for execution as of 31.12.2017 by public and state-owned
enterprises, or state authorities, institutions – will be deleted.
The law also provides for reprogramming of the debt, i.e. payment of the principal
debt in installments. The bigger the debt – the longer the repayment period will be
increased, i.e. it will be repaid in several installments.
Regarding the reprogramming with the new legal solution, it is proposed that the
payment of the main debt and the costs in the proceedings before the court, the
notary public and the enforcement agent be performed in monthly installments,
depending on the amount of the debt and the costs.
Creditors who are in state or public ownership, by virtue of this Law, shall be obliged
to fully write off the interest and reprogram the principal debt and expenses within
three months from the date of entry into force of this Law.
Creditors who are privately owned, write off interest, as well as repay the principal
debt and expenses on a voluntary basis, the Justice Ministry said.
