This week parliament dives into a big debate: the law on debt enforcement – it could be good news for those who have over extended themselves.
Up to 700,000 people in Switzerland struggle with over-indebtedness.
The plan: wipe out debts if they agree to live on the bare minimum for three years.
No new debts, no frills. Everything extra goes straight to creditors.
The hot issue is duration. Three years, as the government suggests, or five, as some want? Neighbouring countries tried five, but that seemed too harsh – they later cut it back to three.
But is this bad news for the creditors?
Backers of the plan point out that many people owe most to the state, either in tax debts or health insurance. It’s better to help people get back on their feet.
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