Banks offering generous terms for debt settlement

Saddled with a significant number of bad loans, banks are again offering generous terms for those who agree to settle their debts.

The terms include an 80 percent discount on commercial loans and credit card loans of up to 50,000 euros, and, as regards housing loans, an offer to settle at below the property’s value.

The new settlement offers also extend to some 80,000 debtors who have petitioned courts for discounts on their debts under a 2010 law.