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In the Netherlands, Arnhem city council is to clear the debts of 40 to 60 families in the city’s poorest neighborhood in a two-year trial to “break the toxic spiral of poverty”, using a €700,000 gift from private associations. To qualify, families must owe a large amount, have more than one creditor, and have children.“This trial is also meant to start a rethink on how society and the government handle debt,” said city poverty chief Mark Lauriks. The council found major creditors, such as energy firms and health insurers, will lower outstanding amounts in exchange for a lump sum. The families will be coached for the next two years on how to better manage their finances and find work.
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