The process to be followed by vulnerable households wishing to continue to remain in their first place of residence as tenants, agreeing to transfer their property to the acquisition and re-letting authority upon its establishment and at the same time to receive a subsidy. from the state, is described by a joint ministerial decision issued by the ministries of finance and the state.

This is a temporary first home protection program designed for vulnerable households that meet certain income and property criteria and who, in order to receive a subsidy under the program, will need to submit an application on a special platform, giving consent to the provision of their property to an authority that is estimated to be created around late 2023 or early 2024. The subsidy under the temporary program will be valid for 15 months and will continue, i.e. when the body is created, under the same conditions, but having previously carried out the transfer of property, as provided for by the new bankruptcy law.

The procedure provides that in order to apply for inclusion in the “Vulnerable Debtors Public Contribution Scheme”, as the temporary program is called, the debtor must log in to the electronic platform through www.gov.gr or the website of the Special Secretariat for Private Debt Management (www.keyd .gov.gr) by selecting the appropriate link. The platform opened at the end of September, but by the end of the year, only those who were arrested or declared bankrupt were eligible to apply, and the number of applications was reportedly extremely low and did not exceed 50.

The platform remains open and in order for an interested party to proceed with an application, it must be verified against the characteristics of a vulnerable debtor and a “vulnerable debtor certificate” must be issued, which is required to participate in the program. As stated in the ministerial decision, “the platform automatically searches through an interface with the platform to issue a vulnerable debtor certificate if a vulnerable debtor certificate has been issued to the applicant within the last three months in which the main residence of the vulnerable debtor debtor has also been confirmed.”

In the event that the principal residence belongs to the vulnerable debtor only in terms of the ideal share, or if the vulnerable person is a small owner or beneficiary, the application requires the cooperation of all co-owners, including small owners and beneficiaries.

1. Based on the collected and registered data, the platform automatically calculates the monthly payment as follows: from the cost of the main residence divided by 12, including the state contribution. b) The government contribution for vulnerable debtors by category is calculated as follows:

• For the applicant 70 euros per month.

The platform is open to vulnerable households who agree to rent out their housing and subsequently rent it out.

• For each additional family member, a surcharge of EUR 35 per month applies.

• Single parent families receive an additional supplement of 35 euros per month.

• Families with vulnerable children receive an additional allowance of 35 euros per month for each vulnerable child.

• The upper limit of the housing allowance is set at 210 euros per month, regardless of the composition of the household.

• The installment subsidy cannot exceed 80% of the monthly payment.

2. After the completion of the calculations and the final submission of the application, the content of the application is brought to the attention of the competent financial institutions. It should be noted that the beneficiary of the grant is a financial institution with the highest order of advance notice or an urgent creditor or recipient that ensures that the debtor makes payments on time before the end of the program. If the application is accepted, the recipient of the grant will also announce the account into which the grant is to be credited, which may be either a special unsecured account in the name of the debtor, or an exclusive program-specific service account in the name of the lender, or a service account for bankruptcy cases for which the administrator is responsible. .

The recipient of the subsidy informs the platform about the termination of the subsidy if the payment is missed for more than 30 days. In the case of a transfer of debt, the financial institution receiving the subsidy provides the platform with the details of the institution to which the debt was transferred, which is required to enter the platform and announce a new account for the payment of the subsidy.