A historic high was recorded in November 2024 by the successful arrangements in the framework of the out-of-court debt settlement mechanism according to the Ministry of National Economy. An increase of approximately 73% was noted by the successful arrangements of debts in November this year, which amounted to 1,991, corresponding to initial debts worth approximately 600 million. euros from 1,152 arrangements of initial debts of 394 million. euros in the same period of 2023.

New applications continued at consistently high levels as well as the final submissions of applications, which amounted to 5,219 and 3,395 applications respectively. This is an increase of 22.22% for new applications and 48.32% for final submissions compared to November 2023.

The monthly Extrajudicial Mechanism progress report for November 2024 in detail

To date, the total number of successful settlements amounts to 27,538 and the total value of settled debts to 9.1 billion. euro.

It is noted that the out-of-court mechanism strengthened the protection of vulnerable borrowers, with 2,167 vulnerable households benefiting from debt settlements in accordance with the established obligation. This is an increase of more than 19% compared to October 2024. At the same time, 130 debtors managed to suspend planned auctions by making use of the prepayment measure.

In addition, data is published on the state of bad loans that have remained in the banks, but also on the bilateral arrangements implemented in October by the Companies for the Management of Claims from Loans and Credits: the four largest companies made arrangements of a total value of 287 million. euros for over 7,620 debtors. The majority of these arrangements mainly concern mortgages. It is noted that, according to the data communicated by the Association of Loan and Credit Claims Management Companies to the General Secretariat of the Financial Sector and Private Debt Management, approximately €10.5 billion. loans have been made aware through the arrangement tools.

Finally, the technical implementation was recently completed by the co-competent bodies and it is now possible to apply for co-responsible persons of companies that have been dissolved or liquidated, pursuant to Law. 5072/2023, in order to avoid enforcement measures and save their assets.
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 (https://www.gov.gr/ipiresies/polites-kai-kathemerinoteta/ex-apostaseos-exuperetese-politon/exuperetese-me-telediaskepse-kai-telephonike-epikoinonia-apo-ten-eidike-grammateia-diakheirises-idiotikou -khreous-egdikh) or phone 213.212.5730.