The digital platform of the new Public Contribution Program for Vulnerable Debtors has been activated to support their primary residence until it is handed over to the Real Estate Acquisition and Issuance Agency.

According to the relevant statement of the Ministry of Finance, in particular, the state support program is aimed at vulnerable debtors who cannot cope with their loan obligations, and includes:

• State subsidy up to 80% of the home loan installment of the main residence of vulnerable debtors, from 70 to 210 euros per month for a period of 15 months.
• Suspension of creditor action against primary residence (for example, foreclosure, auctions, and evictions).

The condition for inclusion in the program and the provision of a government grant is compliance with the eligibility criteria – income, property and other criteria – established and applicable in the Housing Benefit social security program (Government Gazette 71670, Official Gazette 4500/B/ September 29, 2021).

These criteria are checked and rechecked when issuing the “Vulnerable Debt Certificate” required for participation in the program and issued by the e-platform of the Special Secretariat for Private Debt Management.

• If the seizure or declaration of bankruptcy occurred before the launch of the platform, then within 60 calendar days from 09/15/2022.
• When an arrest or declaration of bankruptcy occurs later than the launch of the platform, it occurs within 60 calendar days from that date.

All applications close after 15 months, i.e. until 12/15/2023 or until the start of work of the Agency for the purchase and lease of real estate, whichever comes first.

With the end of this program, vulnerable debtors who will not be able to service a long-term and sustainable settlement of their debts must turn to special statute 4738/20 for debt settlement and a second chance.

The electronic filing and management platform was developed by the Special Secretariat for Private Debt Management of the Ministry of Finance in cooperation with the General Secretariat for Digital Governance and Facilitation and the General Secretariat for Public Administration Information Systems of the Ministry. digital management from which it is constantly maintained and hosted in its infrastructure. The platform is available through the Unified Digital Portal of Public Administration.