Increasing number of Czechs face financial problems following Covid-19 crisis

As the government’s temporary measures adopted to limit the negative impacts of the coronavirus crisis draw to a close, an increasing number of Czechs are starting to face serious financial difficulties. Indeed, debt advisory centres around the country are reporting a surge in the number of clients seeking their advice.

Following the coronavirus lockdown, the Czech government in April approved a set of protective measures to help individuals as well as businesses cope with the sudden loss of income.

The measures included the deferral of loan payments, such as mortgages, for the duration of three or six months and prevented the termination of leases on grounds of unpaid rent for the period until the end of June. The state also temporarily halted the seizure of debtors’ property.

With some such measures already having come to a close, debt advisory centres are reporting a surge in the number of clients. David Šmejkal is the head of the debt advice centre Poradna při finančí tísni.

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Photo By: Gerd Altmann, Pixabay