File photo.
The number of successful debt settlements reached through the out-of-court mechanism reached a historic high in November, according to an announcement by the National Economy and Finance Ministry on Monday.
Successful debt settlements increased by approximately 73% in November, reaching 1,991 in number and corresponding to initial debts worth approximately 600 million euros, from 1,152 arrangements of initial debts worth €394 million in the same period of 2023.
New applications, as well as final submissions of applications, continued at consistently high levels, reaching 5,219 and 3,395 applications, respectively. This was an increase of 22.22% for new applications and 48.32% for final submissions compared to November 2023.
The total number of successful settlements stands at 27,538 so far and the total value of settled debts at €9.1 billion. It should be noted that the out-of-court mechanism supported the protection of vulnerable borrowers, with 2,167 vulnerable households benefiting from debt settlement.
This was an increase of over 19% compared to October 2024. At the same time, 130 debtors managed to suspend scheduled auctions by making use of the advance payment measure.