In Switzerland, nearly half a million people are struggling with debt. This week, parliament discussed new measures that may offer relief to those unable to dig themselves out of insolvency, reported RTS.
In Switzerland, personal bankruptcy does not extinguish your debts in the same way as it does across much of the rest of world. Instead, once all your assets have been liquidated, any remaining creditors receive IOUs for any money still owed to them. And while it brings an immediate end to debt proceedings and allows you to spend all of your salary, any assets you inherit or accumulate post bankruptcy can still be claimed by creditors.
In addition, it is possible to inherit debt from an…
