BANKSFINANCIALNEWS

Almost 4,000 Romanians chose Debt Discharge Law

By Anca Bernovici
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Over 3,900 Romanians so far decided to give their homes as payment to banks, according to National Bank of Romania (BNR) data.

“Of the 3,907 notifications, 404 debtors have notified at least two loans,” Governor Mugur Isarescu announced on Monday, and continued: “Of these, 67 percent were challenged in court by banks. 46 percent of debt discharge requests are for Swiss francs loans, 47 percent – for euro loans and the rest for those in national currency.”

According to him, on 20 July, total amount of credits following Debt Discharge Law reached RON 1.1 billion, meaning 1 percent of total loans to households or 2 percent of the mortgages.

The controversial law on debt discharge came into force on May 13, after it was promulgated by President Klaus Iohannis and published in the Official Gazette.

The law allows for the discharge in full of any loans contracted by a natural person and secured by a mortgage arrangement, including any accessories in connection therewith. The law exempts the governmental backed programme “Prima Casa” (First House) and loans exceeding EUR 250,000.

 

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Anca Bernovici

Anca Bernovici

I started my way in life with the intention to pursue a teaching career. But, after graduating from the Faculty of Letters – the University of Bucharest in 2004, my first job as a reporter at one of the leading newspapers in Romania changed my perspective. I have specialized in communication and communication campaigns, following the Master's courses at the Faculty of Journalism and Communication Studies (FJSC), attending a BBC Communications scholarship.
I’ve represented several important publications in Romania as business journalist, being accredited in the finance and banking field. In 2015, I had the opportunity to interview the International Monetary Fund (IMF) Mission Chief for Romania, Andrea Schaechter. As business journalist, I also had the opportunity to interview ministers for Economics and Commercial
Affairs offices within different embassies in Romania or officials of large companies investing on the domestic market.
After almost 15 years of journalism, I still want to explore new ways, to inform and stay updated. That’s why The Romania Journal project fits me so well.
Today I describe myself as a passionate about the history of world culture, having a PhD in Hebrew Culture and Civilization, after a scholarship at the University of Haifa International School, as a language addict, an environmental activist, pet lover and traveler.

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