Debt Settlement Options for Tax, Social Security, Banks, and Servicers
Greek debtors can restructure tax, social security, bank, and loan debts via new extrajudicial settlement rules effective September 21.Summary
Millions of Greek individuals and businesses owe over €250 billion to tax authorities, social security, banks, and loan servicers. The extrajudicial settlement mechanism provides a consolidated out‑of‑court solution, allowing state and social‑security debts to be repaid in up to 240 instalments and bank/servicer debts in up to 420 instalments, with eligibility requiring total debt above €5,000 and possible partial write‑offs. Starting 21 September, a key change excludes primary residences from asset assessments, potentially extending repayment periods and increasing debt reductions. Additional options include a 72‑installment tax plan for older debts (valid until 31 December) and a reminder for Social Household Tariff beneficiaries to renew eligibility promptly.
(Source：Athens Times)