At a press conference, the ruling alliance party announced its proposal entitled “against usury and for a fair debt.”
This Monday, in the framework of a press conference headed by its leader, Senator Guido Manini Rios, Town meeting (AC) presented his project to reform the Constitution entitled “against usury and for a just debt”which seeks to establish a restructuring of the debts of individuals.
The initiative, which seeks to modify article 52 of the Constitution, establishes the “prohibition of usury”, and sets “the maximum interest for all concepts at an Effective Annual Rate of 30% on the amounts converted to Indexed Units (UI)“. In turn, he points out penalties against the “violators” of the measures and adds that “no one may be deprived of their freedom for debts.”
CA must now go out to collect signatures to be able to put its proposal to the referendum on the same day of the next elections in October 2024. The deadline to get signatures from 10% of the national electorateapproximately 270,000 people, it’s april 2024.
What else does the reform project say?
The document states that “all debts contracted before July 18, 2023either in national currency, in foreign currency or in indexable units, may be canceled by the debtor by paying the amount initially agreed, converted to UI at the value of the date of granting of the original contract“.
The conditions for this are “to the resulting amount an Effective Annual Rate of 4% will be applied for interest, fines, arrears, surcharges and any other type of expenses. The payments already made by the debtor for all concepts, converted to UI, will be deducted from said amount.”
Likewise, it is indicated that “this provision includes any person who has a total of debts for an original amount not exceeding 200,000 IUcontracted by natural persons, or by personal companies or agrarian companies in which all of the social shares belong to natural persons, provided that these are their final beneficiaries”.
Source: Ambito
