Finance ministry mulling introduction of 120-installment debt settlement scheme
A draft finance ministry decision due to be finalised and signed in the coming days will once again introduce extended debt settlement schemes of up to 120 installments for debts to the public sector.
Unlike previous schemes of the same kind, this will target specific categories of debtors - namely the self-employed owing up to 20,000 euros, professionals such as doctors, lawyers and others that cannot declare bankruptcy and those that owe more than 85 pct of their debts to the public sector.
The ministerial decision is expected to be signed soon, in an effort to help thousands of small-scale entrepreneurs that do not have recourse to the out-of-court debt-settlement platform.
The plan stipulates a minimum monthly installment of 50 euros, and up to 36 installments for debts below 3,000 euros. It includes elements of the out-of-court debt settlement system and is available for debts amassed up to December 31, 2016, while it is also open for those already in a 12- or 24-month debt settlement scheme.
Source: amna-mpa
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