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The reform, introduced under Law 5313\/2026, allows significantly more borrowers to use the digital platform operated by the General Secretariat for the Financial Sector and Private Debt Management to restructure outstanding debts.<\/p>\n
Until now, the minimum debt threshold excluded many individuals with smaller liabilities, leaving them vulnerable to bank account seizures, enforcement measures and property auctions.<\/p>\n
Under the new rules, borrowers with total debts exceeding \u20ac5,000\u2014including obligations owed to Greece\u2019s tax authority (AADE), the e-EFKA social security fund (KEAO), banks or consumer lenders\u2014can apply through the platform for a comprehensive debt settlement.<\/p>\n
Around One Million More Borrowers Eligible<\/span><\/em><\/p>\n The General Secretary for the Financial Sector and Private Debt Management, Theoni Alampasi, said the mechanism had already proven its value.<\/p>\n \u201cWith more than 64,000 debt settlements covering approximately \u20ac20 billion, the out-of-court mechanism has earned citizens\u2019 trust as an objective and reliable tool for restructuring debt,\u201d she said.<\/p>\n Alampasi added that reducing the eligibility threshold from \u20ac10,000 to \u20ac5,000 would allow smaller debtors to regularise their financial obligations and protect their assets from compulsory enforcement measures.<\/p>\n She said the expanded eligibility could make around one million additional public-sector debtors eligible to participate, describing the reform as the fulfilment of a long-standing request from households and businesses.<\/p>\n Key Benefits<\/span><\/em><\/p>\n Eligible applicants will receive the same protections already available to larger debtors, including:<\/p>\n Important Conditions<\/span><\/em><\/p>\n Applicants should note several key rules before submitting an application.<\/p>\n The minimum monthly repayment has been set at \u20ac50, making the scheme more affordable for lower-income households.<\/p>\n Only borrowers whose combined debts exceed \u20ac5,000 qualify for the mechanism. Those with debts below that threshold must instead seek relief through Greece\u2019s standard or extraordinary repayment arrangements.<\/p>\n The platform also determines the repayment proposal based on each applicant\u2019s financial circumstances. Borrowers cannot choose the number of instalments themselves and must either accept or reject the proposal generated by the system.<\/p>\n Before applying, applicants must also consent to checks on their income and assets, allowing the platform\u2019s algorithm to calculate an affordable monthly repayment amount.<\/p>\n \u00a0<\/p>\n\n