Debt settlement platform to start operating in March

March should see the launch of a new mechanism for the out-of-court settlement of debts by individuals, whether they enjoy the provisions of the so-called Katseli law or not, via a special platform that is currently under preparation.

The main incentive being offered for inclusion in the mechanism is the rapid settlement of debts, including a possible state subsidy of installments. This applies to taxpayers who have been granted protection for their main residence under the Katseli law - which expired last Monday but has been extended for another two months - as well as to those who are struggling to pay off their debts but have not applied for protection.

The model being applied is similar to the mechanism currently being used for indebted businesses and freelance professionals through the platform at the Special Secretariat for Private Debt Management.

The...