Out-of-court mechanism for settling debts of the 2nd Opportunity Act

The new law (L.4738 / 2020) “Debt Settlement and Second Chance Provision” enables households and businesses to settle all their debts to the State, insurance funds, banks, loan managers and other private creditors.

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Who is affected by it

Natural & legal persons with bankruptcy capacity:

  • Whose total debts are over 10,000 euros.
  • Who have not applied for bankruptcy or pre-bankruptcy proceedings
  • Who have not been convicted of tax evasion, fraud against the State or Social Security Entities, money laundering etc.
  • Who have not been resolved or liquidated.

Debt settlement

Debts to banks, funds, State, Social Security Entities are settled

Debts are settled through a request on the platform based on:

(a) tax information
(b) the existing assets and
(c) the amount that the debtor declares that they can repay

The settlement can be arranged:
(a) up to 240 monthly installments for the State and Social Insurance Entities
(b) up to 420 monthly installments for the Banks and the Funds

If the possibility of repaying your debts is less than your debts, the corresponding debts are written off.
It is possible for the State to write off 85% of the surcharges and 95% of the fines, while it is also possible for the Banks to write off 100% of the default interest. διαγραφή του 100% των τόκων υπερημερίας.

We offer the best solutions

Settle your debts and get rid of the burdens that are holding you back

Our services

Δωρεάν προαξιολόγηση υπηρεσίας

    We create the application with all the necessary supporting documents.

    We submit the application for inclusion by submitting the corresponding settlement proposal.

    We manage the platform from the beginning to the final completion of the process.

    Three steps to success

    The procedure we follow:


    We verify the completeness of the criteria required for the submission of the application

    Settlement assessment

    We give you a written estimate of how your debts are settled (Haircut, installments, etc.)

    Submission of the application

    We proceed to the final submission of the application for adjustment to the platform

    Condorex Consulting Services


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