The Register of Private Debt Amnesty contains information
about persons who have been granted debt settlement/restructuring
negotiations and schemes, and contains copies of all debt
settlement agreements that have been entered into. Pursuant
to the Act relating to Private Debt Amnesty, persons with
serious debt problems shall be given a chance to gain control
of their finances. A central registration of all agreements
was a prerequisite for initiating the debt-settlement system.
The Register of Private Debt Amnesty also contains information
on what stage the proceedings are at, the enforcement officer
or the court of execution and the prevailing deadlines.
The impact of the act and the register appears to be substantially
stronger than the number of registrations would suggest. Everything
points to the fact that creditors are more willing to find
flexible solutions on their own rather than enter into a formalized,
registered agreement which would entail heavier expenses.
The information that is available from the Register of Private
Debt Amnesty is limited, and it is required that the person
in question can be identified by using his/her national identity
number. A copy of a debt settlement agreement can only be
requisitioned by the public authorities or the parties concerned.
After a debt settlement period has been concluded the registered
information is only accessible to the execution and enforcement
authorities.
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