By Vangelis Dourakis

Debt write-offs exceeding 10 billion euros is planned by E-EFKA, while at the same time running the necessary procedures for “involvement” external partners in the collection of overdue debts. The strategy he has followed to date to raise the amounts that owed him freelancers and farmers is different, as the body also puts the collecting in the “game”.

E-EFKA is undergoing a radical restructuring phase of his debt collection strategy, as the latest information will be held in the next two months in the next two months to conduct an international tender for the collection of private collection companies.

How will individuals get involved in debt collection

The collection of debts as well as the enforcement measures will continue to be held exclusively by the Center for Insurance Debt.

However, individuals will support portfolio clearing, assessment of debtors’ financial situation, delays analysis and collecting strategies. In essence, individuals will act as a tool for supporting and accelerating the process, without mixing the final stage of collection.

Their role will focus on:

  • Informing debtors about their arrears.
  • Proposals of regulation to avoid necessity measures from KEAO.
  • Submission of strategic proposals for improving receipts.

In this way the debts will now be repaid on the basis of personalized criteria, depending on the profile of each debtor. The interest in participating in the competition is already high, with dozens of companies preparing, which foreshadows a “battle” for the project.

As E-EFKA executives say, the purpose of this process is to enhance the collection of insurance contributions to enhance the sustainability and reciprocity of the insurance system.

What debts does e-EFKA plan to erase

On the other hand, the body is preparing to “extinguish” the debts of around € 10.1 billion, which accounts for 20% of the total debt portfolio and is characterized as unacceptable recovery. These debts come mainly from bankrupt businesses, inactive employers and insureds who have died without legal successors and are considered to be impossible to collect.

According to the latest report by KEAO, the total debt to the insurance fund now stands at € 49.7 billion.

However, from the agreed debt arrangements, almost half have collapsed, and the forced collection measures are limited. The evidence, however, shows that the actual receipts are based on active arrangements and not auctions or seizures.

88% of debtors owed up to 30,000 euros, but almost 24% of the total debt are raised in just 2,819 large -sciences.

As mentioned above, the debts to E-EFKA are currently approaching $ 50 billion, of which about 32 billion euros are the main debts, while the rest of the increases.