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GreekReporter.comGreece65-Year-Old Woman Reduces her Debt by 85%

65-Year-Old Woman Reduces her Debt by 85%

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The Local Court of Vamos has decided to reduce a 65-year-old woman’s debt by 85%. The woman, who could not manage to repay her 26,000 euro debt, referred to the Cretan Consumers Union and managed to fall under the “Katseli law,” according to Creta Post.
The 65-year-old woman who works washing dishes in a tavern, had a severe salary reduction due to the economic crisis. Creta post reports that her monthly income is 535 euros and she has no assets.
The total amount that the woman owed in two banks, was 26,625.72 euros, the site reports. The Local Court of Vamos, after receiving all the necessary paperwork and supporting documents, recognized the situation that the woman was in, in conjunction with the salary reductions that she underwent. As a result, the court decided to accept the woman’s application and regulate her debt, according to which she will have to pay 4,800 euros to the banks, instead of her initial debt of 26,625.72 euros.

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