Loan

Bulgaria: Households’ Unserviced Debts Are Snowballing

The average amount of debts that households cannot service is about BGN 2200, announced one of the large debt collection companies in Bulgaria. The biggest debts are piled up in major cities and in the northwestern Bulgaria.

The second lockdown, imposed in the country just a month ago resulted in a new decrease in debt payments to banks, telecommunications companies and fast loans.

Banks to sell individual bad loans to funds

Greek banks are adopting a tougher stance toward entrepreneurs who do not service their obligations, by moving ahead with the direct sale of major enterprises' bad loans to funds.

The sales planned will not only concern large portfolio transfers but also individual loan sales, even those of small or medium-sized companies.

Four in 10 restructured loans need fresh settlement plan

The finances of households and corporations in Greece, which have deteriorated over the last 12 months, and the inefficiency of the banks' debt settlement strategies are reflected in the fact that about four in every 10 loans that had already been restructured are now in need of a new payment plan, according to a review of the country's credit sector published yesterday by the Bank of Greece.

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