Administrative fines totaling 305,000 euros were imposed by the Ministry of Development on three Loan and Credit Claims Management Companies for violation of the Legislation, following the examination of complaints to the General Directorate of Market and Consumer Protection of the General Secretariat of Commerce.

As the Minister of Development Kostas Skrekas stated: “No tolerance for unfair practices and offensive behavior at the expense of citizens”

In more detail, as announced by the Ministry of Development:

A. A fine of 65,000 euros was imposed on doValue Greece AED.A.D.P., in application of paragraph 1 of article 10 of Law 3758/09, for the following reasons:

1. Informing borrowers by representatives of the company about the existence of an overdue debt, where either the borrower paid his loan installments regularly or he had been subject to the provisions of Law 3869/2010 in compliance with the court regulation.

2. Unfair and misleading practice by company representative. Demonstrated offensive behavior by using offensive expressions against a debtor when informing him of the existence of an overdue debt.

B. A fine of 60,000 euros was imposed on QQuant Master Servicer Sole Proprietorship A.E.D.A.D.P.. In application of Article 13a of Law 2251/1994, for unfair commercial practices, an unjustified delay in the processing of borrowers’ requests regarding in sending a dosage form and confirmation of payments in the framework of regulation pursuant to a court decision of Law 3869/2010.

C. A fine of 90,000 euros was imposed on QQuant Master Servicer Sole Proprietorship A.E.D.A.D.P. Pursuant to Article 13a of Law 2251/1994, the company’s non-response to borrowers’ requests regarding the sending of a dosage form and service account number for the payment of the amounts stipulated by the court regulation was found to be unfair commercial practices.

D. A fine of 90,000 euros was imposed on Cepal Hellas AED.A.D.P., pursuant to Article 13a of Law 2251/1994, for unfair commercial practices. Specifically, it was found:

1. The company’s failure to respond to a number of electronic messages from the debtor in order to settle his debt

2. Unjustified delay of the company to respond within a reasonable time in the attempt to settle overdue debts of borrowers.

3. Unjustified delay in the processing of borrowers’ requests for the granting of a payment certificate and service account number for their loans.

4. Difficulty in communicating between the borrowers and the company in the context of managing their debts.

The Ministry of Development recalls in the announcement that it carries out intensive checks to ensure compliance with the legislation that regulates the operation of debt collection companies and emphasizes that behaviors that violate it are not acceptable. From September 2023 until today, fines totaling 1,825,000 euros have been imposed.

It is noted that the consumer public can be informed about issues related to consumer protection on line 1520 as well as submit complaints about violations of consumer legislation at the online address https://kataggelies.mindev.gov.gr/

The Minister of Development, Kostas Skrekas, said: “Our government is determined to ensure that debt collectors operate lawfully, responsibly and ethically. Unfair practices and behaviors that offend citizens cannot be accepted. Our efforts to strengthen the consumer protection framework and ensure the smooth operation of the market continue unabated.”