Reuters & People in Need: The Fierce Struggle of Debt in the Czech RepublicPublished: Dec 14, 2018 Reading time: 1 minute
The article titled “Debt-trapped Czechs excluded as economy grows,” published on Reuters website is particularly relevant for People in Need as the organization has been fighting social exclusion in the Czech Republic since 1999.
The article by Robert Muller profiles average Czech citizens, like Olga and Ludmila, who are today deeply in debt all because of small loans taken out years ago. These women have found themselves trapped in a never-ending cycle of paying off loans. They are not alone.
“At the end of 2017, 863,000 Czechs — nearly 10 percent of the adult population — faced at least one seizure order, meaning their income above a legal minimum can be redirected to cover debts and fees. Half of them faced four or more orders.”
The issue of debt has very real political repercussions, as well. “The harsh treatment of debtors has often fueled support in poor areas for far-right and far-left political parties. Usti nad Labem region, near the German border, where 18 percent of the population have seizure orders, is the Communist party’s electoral stronghold," Reuters said.
According to Daniel Hůle, People in Need expert, it is vital that people learn about their power to fight debt effectively. So many organizations target innocent individuals and suck them into a lifelong form of servitude. The worst part is that someone always profits from other people’s misery.
Read the whole article HERE