Target: Zoran Milanović, Croatian Prime Minister
Goal: Applaud decision to cancel millions of dollars in debt for low-income people.
Tens of thousands of Croatia’s poorest individuals and families will have their debts canceled by the government in order to fight against negative economic trends and boost consumer spending. Erasing people’s debt will prevent them from having their bank accounts frozen, losing their jobs, and generally exacerbating their financial situation. Join us in applauding Croatia’s decision to help low-income individuals instead of punishing them, and hoping that this will encourage other countries to take action to help people get out of poverty.
The decision will impact roughly 60,000 people, and it is specifically meant to erase debts of people making less than 1,250 kuna a month (about $180) who have debts smaller than 35,000 kuna ($5,100). Private debt can hurt a country’s economy because when people don’t spend, other people can’t earn. The problem with low-income people having sums of debt that they can’t repay is not only the challenges they face in trying to make ends meet, but that it makes it harder for everyone else in the same economy to make a living.
In the United States student debt alone now exceeds $1.2 trillion, with about 60 percent of debtors owing more than $10,000. These amounts of debt can cripple individuals’ lives as well as the economy and are almost impossible to bounce back from. Governments should step in and help people get out of the vicious loan and debt cycle, or things will just keep getting worse. Government assistance and debt cancellation is often available for corporations and companies, but not for individual people and families. Please join us in supporting this action by signing the petition below.
Dear Mr. Milanović,
I am writing to you about a recent decision in Croatia to cancel debt for thousands of low-income individuals and families who owe small debts. This attempt to alleviate some of the negative influences of debt on debtors and the economy in general is very important and I hope that other governments follow so that people from around the world can help themselves out of poverty and partake in their local economy.
Debt is out of control in many places around the world, and it is a hard cycle to get out of. Governments should be there for their citizens and also help their local economies by ensuring that all people can participate in them without being crippled by debt. Thank you for taking action for people in need, and please keep working to help your citizens achieve financial stability.
[Your Name Here]
Photo credit: Elephantus via Wikimedia Commons