Two administrative fines totaling €670,000 were imposed on the same number of Loan and Credit Claims Management Companies by the Ministry of Development pursuant to Article 13a of Law 2251/1994.

In particular on:

1. doValue Greece – Anonymous Company for the Management of Claims from Loans and Credits (AED.A.D.P.): The General Directorate of Market and Consumer Protection of the General Secretariat of Trade of the Ministry of Development imposed an administrative fine of a total amount €435,000 to this particular company because:

a) Proceeded to repeated nuisances to inform debtors of the existence of overdue debts which had been subject to a regulation that was observed without, however, having been preceded by the confirmation required by the company (fine of €385,000) and

b) Engaged in unfair practice by demonstrating offensive behavior by using obviously offensive expressions against debtor upon informing him of the existence of an overdue debt (a fine of €55,000).

2. Cepal Hellas Anonymous Company for the Management of Claims from Loans and Credits (AED.A.D.P.): The General Directorate of Market and Consumer Protection of the General Secretariat of Trade of the Ministry of Development imposed an administrative fine of a total amount €235,000 to this particular company because:

a) Proceeded to repeated nuisances debtor about the existence of an overdue debt without the confirmation required by the company having preceded this, as well as in enforcement actions by issuing a payment order against the debtor, despite the fact that the debt had been subject to regulation based on a court decision in the context of Law 3869/2010 and was strictly observed and

b) Proceeded to assignment of orders to Debtors Information Companies to inform the debtors about their overdue debts which had been subject to judicial regulation and were strictly observed.

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 Skrekasmade the following statement: “Breach of the law and unacceptable behavior by collection agencies is not acceptable. Companies must respect citizens and abide by the laws that regulate their operations. The Ministry of Development will continue intensive controls.”