{"id":1011,"date":"2015-09-06T13:22:32","date_gmt":"2015-09-06T13:22:32","guid":{"rendered":"http:\/\/www.mayalavy.gnssweb.co.il\/en\/?p=1011"},"modified":"2019-01-14T13:22:55","modified_gmt":"2019-01-14T13:22:55","slug":"a-law-for-forgiving-collection-debts-for-individuals-with-restricted-means-has-been-approved","status":"publish","type":"post","link":"https:\/\/ml-law.co.il\/en\/a-law-for-forgiving-collection-debts-for-individuals-with-restricted-means-has-been-approved\/","title":{"rendered":"A Law for Forgiving Collection Debts for Individuals with Restricted Means has been Approved"},"content":{"rendered":"<p>The Knesset approved a &#8220;drop law&#8221; that allows the forgiving of loans that are subjected to collection of people with restricted means, who are unable to repay their debts to creditors.\u00a0 Thanks to the law, which will be in affect beginning on September 5, 2015, debtors will be able to submit a request directly to the office of collections asking for their debts to be forgiven.\u00a0 The law was submitted already during the previous administration, and was promoted in the current administration by M.K. Ayelet Shaked.<\/p>\n<p>&nbsp;<\/p>\n<p>A debtor who is interested in having his debts forgiven must abide the following eligibility conditions:<\/p>\n<ul>\n<li>A debtor who&#8217;s been in the process of debt consolidation during the past four years<\/li>\n<li>A debtor who is declared as with restricted means<\/li>\n<li>The total debt is under 800 thousands NIS (including debts that are not in consolidation)<\/li>\n<li>The debtor fulfilled his debt consolidation arranged for him by the collection office in the past 3 years<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p>The law was implemented to help the at-risk population, that has been facing collections for many years, and have been assigned monthly payments that doesn\u2019t cover the monthly interest.\u00a0 In addition to that, for a period of several years, the debtors have had to face different sanctions, such as: opening a business, restricted bank accounts, and stay of exit.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Knesset approved a &#8220;drop law&#8221; that allows the forgiving of loans that are subjected to collection of people with restricted means, who are unable to repay their debts to creditors.\u00a0 Thanks to the law, which will be in affect beginning on September 5, 2015, debtors will be able to submit a request directly to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[58],"tags":[],"_links":{"self":[{"href":"https:\/\/ml-law.co.il\/en\/wp-json\/wp\/v2\/posts\/1011"}],"collection":[{"href":"https:\/\/ml-law.co.il\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ml-law.co.il\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ml-law.co.il\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ml-law.co.il\/en\/wp-json\/wp\/v2\/comments?post=1011"}],"version-history":[{"count":1,"href":"https:\/\/ml-law.co.il\/en\/wp-json\/wp\/v2\/posts\/1011\/revisions"}],"predecessor-version":[{"id":1012,"href":"https:\/\/ml-law.co.il\/en\/wp-json\/wp\/v2\/posts\/1011\/revisions\/1012"}],"wp:attachment":[{"href":"https:\/\/ml-law.co.il\/en\/wp-json\/wp\/v2\/media?parent=1011"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ml-law.co.il\/en\/wp-json\/wp\/v2\/categories?post=1011"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ml-law.co.il\/en\/wp-json\/wp\/v2\/tags?post=1011"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}