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Senate approves extending relief regime for ‘childhood debts’

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The Czech Senate has approved an amendment to the Insolvency Act expending to a preferential debt relief regime that now only applies to the elderly and disabled to people paying off debts incurred when they were minors. The amendment has yet to be signed into law by the president. Over 6,000 children in the Czech Republic are currently threatened with distraint orders while tens of thousands of young adults have debts carried over from childhood.

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