Administrative fines totaling 790,000 euros to three Loan and Credit Claims Management Companies were imposed by the Ministry of Development for violation of the Legislationthen examination of complaints at the General Directorate of Market and Consumer Protection of the General Secretariat of Commerce.

Specifically:

A. Fines totaling 330,000 euros to doValue Greece AED.A.D.P., in application of paragraph 1 of article 10 of Law 3758/2009, on informing debtors about overdue claims because:

1. Outsource to debt reporting companies informing borrowers of overdue debt those that had already been paid,

2. Assign debtor information companies the informing borrowers about their overdue debt while the debtors had filed for bankruptcy which had been accepted by the court,

3. It informed borrowers about the existence of an overdue debtin cases where either the borrower duly paid the installments of the loan or had been subject to the beneficial provisions of Law 3869/2010 by complying with the judicial regulation.

B. A fine of 280,000 euros to Cepal Hellas AED.A.D.P.in application of article 13a of Law 2251/1994, for unfair commercial practices against borrowers in the context of the management of receivables from loans and credits for:

1. Unreasonable delay in checking the authorization of the legal representatives of debtors and the process of finding a settlement solution for their debt.

2. Unreasonable delay in processing borrower requests which concern an examination of a request for settlement of their debt and issuance of a certificate of the balance of the debt.

3. Difficulty in communicating with borrowers with the company in the context of managing their debts.

C. A fine of 180,000 euros to INTRUM HELLAS S.A.E.D.A.D.P., in application of article 13a of Law 2251/1994, for unfair commercial practices against borrowers in the context of the management of claims from loans and credits for:

1. Incorrect information on the balance of the borrower’s debts with the aim of full repayment on his partas well as an unjustified delay in responding to his request regarding the issuance of a certificate of repayment of his loan obligations.

2. Unjustified delay in the implementation of the borrower’s request for offsetting of an amount that had been deposited by mistake.

3. Unreasonable delay in responding to a borrower’s request regarding the dispatch of the balance of the loan included in Law 3869/2010.

The Ministry of Development carries out intensive checks to ensure compliance with the legislation that regulates the operation of debt collection companies and behavior that violates it is not acceptable.

By September 2023 fines totaling 1,520,000 euros have been imposed to date.

The Minister of Development, Kostas Skrekasstated: “The Government proves in practice that it stands against unfair practiceswhich affect, they offend the citizen and explicitly violate the legislation that regulates the operation of companies. We will continue to do this with determination and persistence, intensifying controls and examining the relevant complaints.”

*Consumers can be informed about issues related to consumer protection on line 1520 as well as submit complaints about violations of consumer law at the email address https://kataggelies.mindev.gov.gr/.