ECB approved the law for indebted households

It basically is the amendment in Law 3869/2010 and the adoption of a leniency program aimed at supporting groups facing serious financial problems. However, regarding the mediation part (extrajudicial settlement) that the ECB has requested and which is supported by the Ministry of Justice, there is strong disagreement by Development Ministry officials, as they believe it will be quite costly. Meanwhile, the ECB approved process is time consuming and with additional asphyxiation for the market.

The trial date in 6 months, a lot of emphasis on the application documents

In general, the provision draft redesigns the application process for judicial settlement of overdue debts. The hearing for discussing these applications will take place within 6 months from the date of submission by the debtor. The application must be accompanied by documents concerning the assets, income and creditors of the applicant, and the requirements of these creditors. Creditors have a right of access the documents in the case file.