The Ministry of Finance, banks and funds are discussing changes to the basic terms of the out-of-court settlement, which will lead to the cancellation of debts for more debtors.

This element is believed to discourage debtors, and the change in the limit of the commercial value of the property, on the basis of which the write-off rate is also determined, will be a step that will make the regulation friendlier.

As it appears from the data of the out-of-court mechanism, 54% of the total debts – i.e. 3.6 billion euros – that have been approved in the context of the out-of-court mechanism have less than 50% of the debt secured and therefore the flexibility of the measure will increase the acceptance rates of the arrangements by prospective stakeholders, which according to the platform data is currently at 61%.

Source: Ekathimerini.com