The number of debt settlements within the framework of the out-of-court mechanism reached 40,515 in July, according to data from the Ministry of National Economy and Finance.
These settlements correspond to initial debts of 13.25 billion euros.
The number of applications remained stable, despite the summer season, with 6,500 new applications and 4,600 submissions in July.
In the same month, 1,949 new arrangements were made, with initial debts exceeding 540 million euros, confirming the growing confidence of citizens.
As noted in the announcement, the out-of-court settlement mechanism continues its strong momentum, confirming its key role in the management of private debt and the support of debtors
Kyriakos Pierrakakis: “Debt settlements increased by 30%”
The increase in arrangements is due, as noted, to the new provisions of the out-of-court mechanism that came into force on May 1, 2025 and enabled many more citizens and businesses to settle their debts on fair and sustainable terms.
Commenting on the results of the first quarter, the Minister of National Economy and Finance, Kyriakos Pierrakakis, stated: “The out-of-court mechanism is a tool that we are constantly developing. Within the first three months of implementation of the new framework, we recorded a 30% increase in successful settlements compared to the previous quarter. With a plan and methodical approach, we ensure that more households and businesses have access to arrangements that support society and strengthen the economy.”
