Adult children in Cyprus are helping their elderly parents pay large loans. This is a new trend. KEDIPES, a loan company, shared this information. Economic problems are making it hard for older people to pay their debts. Their children want to protect family homes and avoid legal problems.
KEDIPES reported that more adult children are settling loans for their parents. Many elderly people have small pensions. They also cannot get new loans easily. They have debts from better economic times. Now, they cannot pay these old debts. This is a big worry for them.
KEDIPES has created special offers to help. These offers encourage quick loan payments. The offers are very successful. One offer gives a big discount for paying off loans on homes. The homes must be worth up to €350,000. This helps protect the family house.
Another offer started in July 2025. It is for loans that are being paid back. This offer also gives a good discount. It helps children or parents pay off the whole debt at once. These offers have helped settle loans worth almost €300 million in 2025.
There are many reasons for this help. The parents are about 60 years old. Their pensions are not enough for living costs. They also have old debts. Their age and money situation mean they cannot get new loans. Their children are often in better financial situations. They help their parents to avoid stress and losing their homes.
The success of KEDIPES's offers shows people are responding to financial needs. The company offers good reasons to pay loans fast. This helps KEDIPES and helps families. It shows how families work together to solve money problems. It protects family property and helps older people.