A significant increase was recorded in October 2024 both in new applications and in successful arrangements within the framework of the out-of-court debt settlement mechanism compared to October 2023.

In detail, there was a 52.48% increase in successful debt settlements in October this year, which amounted to 1,845 corresponding to initial debts worth approximately 600 million euros from 1,210 initial debt settlements of 438 million euros in the same period of 2023.

Additionally, 5,771 new applications were registered from 3,821 in October 2023 (+51.03%) and 3,493 applications were finalized from 2,237 in the same period last year (+56.15%).

To date, the total number of successful settlements is 25,551, with the total value of settled debts amounting to 8.5 billion euros. This is a 154.92% increase from October 2023 when total setups stood at 10,023. It is noted that the total value of regulated debts also recorded an increase of 129.73% from the same period last year (3.7 billion euros).

In addition, the out-of-court mechanism strengthened the protection of vulnerable borrowers, with 1,820 vulnerable households benefiting from debt settlements under the established mandate. At the same time, 112 debtors managed to suspend planned auctions by making use of the prepayment measure.

In addition, data is published on the bilateral arrangements implemented in September by the Companies for the Management of Claims from Loans and Credits: the four largest companies carried out arrangements with a total value of 307 million euros for 5,328 debtors. The majority of these arrangements mainly concern mortgage loans.

It is recalled that, with the aim of making more effective use of the available debt settlement tools, the General Secretariat of the Financial Sector and Private Debt Management provides nationwide service by video call or by telephone by appointment through the platform or by calling 213.212.5730.