Out of court debt settlements reach €2.97 billion in August
Out of court debt settlements reach €2.97 billion in August

Out of court debt settlements reach €2.97 billion in August

An element that combined with the statistics of the last four months reflects the satisfactory course of the tool.
RE+D magazine
07.09.2023

Circa 691 new successful debt settlements, that correspond to €322 million of initial debts, were finalised in the month of August through the Extrajudicial Mechanism according to data from the Ministry of Finance.

Specifically, the amount of initial debts settled during in the month of August was at a higher level compared to the previous month, despite the fact that the deadlines for evaluating the proposed settlement from the debtor's side were suspended during the month of August, according to the law.

An element that combined with the statistics of the last four months reflects the satisfactory course of the tool.

In particular, according to the data of the General Secretariat of the Financial Sector and Private Debt Management:

In the month of August 2023, 691 new successful debt arrangements were made, which correspond to €322 million of initial debts (an amount greater than the corresponding index of the month of July where 931 arrangements were made), thus maintaining a consistently high level (>290 million euros) ) the amount settled on a monthly basis in the last four months.

In total, by the end of August 2023 there have been 7,948 successful debt settlements, which correspond to €2.97 billion of original debts.