Deafult on your debt and enter the Lottery!

Here's an article from Kuwait Times I read a while back and thought would be worth sharing with any readers outside Kuwait. I thought I'd seen/heard it all, but was quite astonished to read this...

Grants possible for Kuwaiti debtors

Published Date: April 16, 2007

KUWAIT: A Ministry of Justice committee is studying case by case applications of Kuwaiti citizens seeking to receive a Kuwaiti philanthropist's grants to cover their mounting personal debts, a ministry official said yesterday. In press statements, president of the department of Sentence Enforcement at the Ministry of Justice Ali Al-Dhebibi said those who would be eligible for grants to cover their debts would include prisoners who have been accorded Amiri amnesty and those who have been charged with non-payment of debts up until Dec 31, 2006.

He said eligible citizens have been divided up into four categories, the first are those with unpaid debts ranging from KD 1 to KD 5,000. Among this group are 2,680 who owe KD 3,565,936 to individuals. Up to 9,538 debtors in this group owe KD 8,888,517 to companies.

The second category are those with unpaid debts ranging from KD 5,001 to KD 10,000. Among this group are 355 who owe KD 2,406,308 to individuals. Up to 1, 740 debtors in this group owe KD 11,977,240 to companies.

The third category are those with unpaid debts ranging from KD 10,001 to KD 20,000. Among this group are 181 who owe KD 2,481,372 to individuals. Up to 602 debtors in this group owe KD 8,846,070 to companies.

The fourth category are those with unpaid debts exceeding KD 20,000. Among this group are 126 who owe KD 28,169,834 to individuals. Up to 414 debtors in this group owe KD 335,493,975 to companies.

Al-Dhabibi explained that eligible debtor applications are
accepted through an Internet website (www.salemgive.com) which is open round the clock but only till April 23.

Up to 5,370 applications have been received via the website, he said, 2,870 of which have been considered for processing.

Information received at the website does not mean that a citizen's debt will be
automatically paid off, he cautioned. Once an applicant enters his civil ID at the website, the screen will display all his debt offences in the way of court sentences and other legal injunctions against him and amounts of money he owes, he said.

The Justice ministry committee looking into debtors' cases will have the right to either accept or reject any application, he said as he applauded the benefactor behind paying off these debts, His Highness Sheikh Salem Al-Ali Al-Sabah, chief of the national guards.

Once an applicant's case is accepted and thoroughly vetted and endorsed he will be notified and his debt will be paid off directly to his creditor. Afterwards the debtor's name will be taken off all court records.

Though the process of paying off applicants' debts has just started, almost 1,000 have seen their debts paid off free and clear, he said. Their collective debts amounted to KD 2 million, he specified. -- Kuna

And an update...

KD10 million to Zakat

Published Date: April 29, 2007

KUWAIT: KD10 million from the donation of Sheikh Salem Al-Ali will be transferred to the Zakat (alms) house this week in which the sum will end loans and financial cases of 9139 citizens. The priority of paying loans would be given to companies and
institutions that offer large discounts for citizens in debt. The adviser of the donation project, Mohammad Al-Mekhazeem indicated that the Zakat house paid sums ranging from KD 400 to KD 1000 to more than 5000 needy families.

So, for all citizens, if you haven't already applied for free money... tough! 23rd April was the deadline.

Does any other country in the world allow its citizens to spend like there's no tomorrow, and then bail them out when their debt burden gets a bit onerous?

Can't be seen to drive to work in a Toyota Corolla? Why not make it a Hummer H3 with this easy to pay back instalment plan of KDx per month.

Sure, the laws in Kuwait are also an ass, and if you suffer financial loss and don't have wasta, it can be a bit difficult to repay your debts from inside a prison cell. That’s another issue. But come on, what message are you sending to the masses, o wise ones?