Web Portal for Debt Cancelation Applications Launched

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Web Portal for Debt Cancelation Applications Launched

By Zoë Robert
Reykjavík

Photo: Dagbjört Oddný Matthíasdóttir.

The government’s household debt relief plan was passed by parliament on Friday and the web portal leidretting.is was opened for applications yesterday.

Roughly 10,000 Icelanders in 59 countries have already sent in their applications for having their indexed loans corrected for the effects of inflation in 2008 and 2009, ruv.is reports. People can also apply to pay down their debt with their personal pension funds.

ISK 80 billion of the indexed mortgages will be written off over the course of the years 2014-2017.

The public will have until September 1 to apply.

The cancelation of household debt was Sigmundur Davíð’s Progressive Party’s big election promise.

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