Restructuring of debts

Statistics Finland publishes statistics on cases concerning the restructuring of private debts handled and concluded by district courts. A new law concerning the restructuring of private debts entered into force in Finland on 8 February 1993, with the aim of improving the economic position of private people who have run into financial difficulties. The restructuring of private debts gives insolvent persons the possibility to become discharged from some or all of their debts if they are for reasons other than temporary ones unable to make the repayments that fall due on their debts. Admittance of a private person into a debt restructuring scheme is decided by the court.