Measures for overdue loans

Greek banks seem to be working on a package of measures and arrangements for overdue loans as they are faced with a huge volume of serviced debts that now surpasses 68 billion euros.

Faced with the risk of a total collapse of consumer credit and given the inability of most borrowers to service their debts, banks have come up with a set of options with a double objective, to give a breather to borrowers and to ensure as many of the certified debts of their customers as they can.

According to "To Ethnos" newspaper the solutions which are being promoted, include the freezing of installment payments for financially weak and packages to lengthen the repayment of the loan to reduce the monthly payment.

Another solution is the reduction of the dose to the height of an average rent, depending on the house for which the borrower took a home loan.

Banks are also promoting solutions that include the freezing of doses with payment only of interest for a period of 3 years.

Finally, borrowers will be able to gather all their debts from mortgages, consumer loans and credit cards into one loan, with simultaneous extension of the repayment level while settling their overdue payments on more favorable terms.