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Debt Jubilee - Croatia

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I remember this being discussed frequently back in the dark days of 2007/8.

.....

Just realised I still can't paste a link when on iPad. Google'Croatia just canceled the debts if it's poorest citizens' and I will add link when able

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To be eligible, Croats need to fulfill certain criteria: Their debt must be lower than 35,000 kuna ($5,100), and their monthly income should not be higher than 1,250 kuna ($138). Those applying for the scheme are not allowed to own any property or have any savings.

These are people that have no chance to pay it off anyway.

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To be eligible, Croats need to fulfill certain criteria: Their debt must be lower than 35,000 kuna ($5,100), and their monthly income should not be higher than 1,250 kuna ($138). Those applying for the scheme are not allowed to own any property or have any savings.

These are people that have no chance to pay it off anyway.

Yes, it's more of an en masse bankruptcy/debt relief order which makes me think do they not have this option ordinarily?

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This is very anti bank..the move is to halt the blocking of bank accounts carried out on these people.

These banks will be carrying these assets on their balance sheets...it makes them look better...writing them off will leave the banks poorer on paper, but no different in reality.

The poor though will then be able to have bank accounts.

Homeowners excluded.

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Coatia have decided those who spent too much, got themselves into debt and can't pay it back should now be let off.....

http://www.cnbc.com/id/102388026

Not difficult to spend too much when you only earn £120 a month or less, and they're the only people having their debt written off. These people would never be able to pay the debt off and probably got into debt to pay for essentials like rent, food and utility bills.

This is far better than what happens in the UK where some 3rd rate celeb declares themselves bankrupt after getting into millions in debt.

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