Some 15,000 Czechs escape foreclosures under debt forgiveness scheme

Some 15,000 people in the Czech Republic escaped foreclosures during a special debt forgiveness scheme at the end of last year, the Czech Association of Bailiffs said on Thursday. According to the association, debtors were forgiven penalties, interest and other payments amounting to CZK 1.55 billion.

During the three-month scheme, which was launched at the end of last October, people were able to escape foreclosures on debts owed to public institutions and state or semi-state companies. Coalition politicians have already announced that they would like to repeat the scheme in autumn this year.