Greece’s Red Loan Reforms: What Borrowers Need to Know About Servicers and Debt Protection

Protothema

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The government argues that the bill strengthens borrowers, with stricter rules for servicers and more regulatory possibilities.

Iefimerida

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Sources from the Ministry of National Economy and Finance have provided clarifications on the legislative intervention concerning the 120 installments. “The criticism that the new legislative intervention abolishes the judicial protection of debtors is unfounded and creates a misleading image of the actual content of the regulation,” they emphasize, adding that “it omits the guarantees provided by the law, the additional possibilities for protec…

in.gr

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ELAS speaks of an unprecedented institutional deviation for loan contracts and calls for the withdrawal of article 23 of the new bill of the Ministry of National Economy and Finance The post ELAS: The government becomes the executive arm of the servicers – Article 23 should be withdrawn now appeared first on in.gr.

eleftheria.gr

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▶ Maximum advance payment limit of 15% in bilateral debt arrangements, free information for borrowers and strict sanctions are included in the provisions of the bill under vote Stricter rules for the operation of funds and servicers, with fines that can reach up to 500,000 euros, are provided for in the government's bill under vote for the management of private […]

Tribune.gr

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The government may have initially insisted that the ability of borrowers to appeal to the courts remains fully guaranteed, after...

LiFO

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Opposition parties and representatives of the legal world had expressed serious objections to its consequences for borrowers with debts to banks and funds.