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Greece launches e-platform for the residence protection of indebted vulnerable households

Greece’s Finance Ministry on Thursday launched an e-platform on Thursday where economic vulnerable households can protect their first residence and settle their debts through a series of favorable measures.

Vulnerable households can make : a) settlement of debt through an out-of-court mechanism in 240 tranches for arrears to the state and in 420 tranches in arrears to financial institutions, b) subsidizing of loans for primary residence of vulnerable households for a period of 5 years after reaching a debt settlement deal.

The electronic platform allows debtors in financial weakness to receive a certification that are truly vulnerable households and then take advantage of the law 4738/2020 which envisages erasing all of their debt and to be offered a second chance.

The platform was designed by the special secretariat for management of public debt of the Finance ministry, in cooperation with the secretariat general of Digital Governance.

The e-platform is available here.

 

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