Out-of-court settlement applications double
The number of new applications submitted by debtors to the platform for the out-of-court settlement mechanism reached 7,360 in February.
The number of new applications in February was more than double the number of applications in previous months – the average in 2023 was 3,400 new applications per month – and is a record high, according to a Finance Ministry announcement on Friday.
The increase in applications was directly related to the incorporation into the settlement mechanism’s platform, since February, of the changes and improvements introduced by the National Economy and Finance Ministry.
These include an additional “haircut” of up to 28% of the debt in collateralized loans; an obligation by banks, servicers and the state to accept the mechanism’s proposals regarding vulnerable debtors; the reduction of the interest rate for all debt settlements to 3% for three years; and granting individuals who “inherit” debts the possibility of applying to the out-of-court settlement mechanism.
