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All reports tagged with: "debt relief"

Debt release orders secured

Fifty six debt release orders have been secured by the Insolvency Service for debtors who were unable to repay dues of up to twenty five thousand Euro, as a result of the economic crisis.

First five debt relief orders

The Insolvency Service announced on Friday the issuance of the first five debt relief orders, for debts up to €25,000 following a number of applications it made to the Limassol District Court.

Debt relief and foreclosures

While the Cyprus Insolvency Service has received four applications since the scheme came into force, it seems likely that the Bank of Cyprus will be the first lender to foreclose on property offered as loan collateral.

Insolvency service ‘inundated’

The newly established Insolvency Service, which was set up by the Cyprus government as part of the insolvency framework agreed with the troika, has been inundated with requests for information.

Debt relief or foreclosures?

The debate continues as to whether a debt relief programme should be introduced to assist those who can no longer afford the loan repayments on their first home to avoid foreclosure.

Will Cyprus adopt a debt relief package like Iceland?

Will Cyprus follow the example of Iceland and launch a mortgage debt relief programme to assist households who can no longer able to afford to maintain their mortgage repayments?

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