DEBT ARRANGEMENTS AND SERVICING
Easy and personalized solutions for settling your debts, with transparency and respect at every step
DEBT ARRANGEMENTS AND SERVICING
Information, Search and Confirmation of Debts
Cepal is constantly developing and enriching the information tools available to you, so that you can get a comprehensive overview, quickly and easily, of the amount of your debt, the instalments of your loan and the arrears status at which your debt is in arrears.
Register now for e-cepal, our modern digital platform that allows you to monitor and manage your loan obligations easily, quickly and securely 24 hours a day, 7 days a week.
Call our new automated telephone service portal and select “Information regarding my debt” to get the necessary information.
You can issue the certificate certifying your existing monetary debts to all Financial Institutions, the State and Social Security Institutions, with one click on the gov.gr platform via the link, and using your Taxisnet codes.
Cepal Hellas immediately updates this online platform with the required data for the issuance of the debt certificate, supporting the actions of the General Secretariat of the Financial Sector and Private Debt Management of the Ministry of National Economy for the smooth information of borrowers.
Debt Settlement Request
Contact us and discuss with our specialized staff the possibilities of including your debt in one of our new restructuring programs. Our new products fully cover your debt arrangement needs, with or without collateral.
Schedule an appointment with our associates, provide the necessary identification and financial information and review the most suitable solution for you.
Alternatively, call the service portal and select “I want to settle”. A representative will contact you within the next few days to discuss the possibility of settling your debt.
If you agree to one of the available arrangement plans, the process will be completed immediately – and, if you wish, it can also be completed digitally through our new digital signature service for contract documents.
Service and requests
Following the settlement of your debt, you can contact us with any requests or queries you may have.
For better and faster service, you can register on e-cepal in order to easily and quickly apply for statements, your dossier and receive digital services related to the servicing of your debt. For more information, please visit the following link (HERE).
Mediation (Law 4640/2019)
At Cepal we support the mediation process to find a solution with debtors, in accordance with Law 4640/2019, as our common goal is to reach a mutually acceptable solution, avoiding the judicial route, which is a time-consuming and costly process.
You can choose a mediator certified by the Ministry of Justice, who acts independently, neutrally and impartially, wishing to facilitate the negotiation.
To join the mediation process, you can submit a request to mediation@cepal.gr.
Alternatively, you can contact the Hellenic Financial Mediation Centre at fin-adr@hobis.gr
If a bilateral debt restructuring agreement with the State and Social Security institutions has been concluded under the out-of-court debt settlement (OCW), you have the right to submit a request for mediation via the platform and in accordance with the current legal framework.
DEBT ARRANGEMENTS
OCW Debt Settlement
If you owe debts to more than one company, the Out-of-Court Debt Settlement Mechanism is an immediate and efficient online procedure, without the need for court action.
The Out-of-Court Debt Settlement Mechanism is a comprehensive and viable solution for individuals, businesses and self-employed persons, and is particularly useful in cases of debtors with a wide spread of debts to different creditors and high debts to the State and Social Security institutions.
Through it, you can settle debts owed to institutional creditors, including financial institutions (banks and loan managers), the State (AADE) and Social Security institutions (EFKA/KEAO). You can also settle debts owed to third parties collected by the tax administration (e.g. debts owed to municipalities that are established and collected through AADE).
In particular, for debts to the State and Social Security institutions, the out-of-court settlement offers particularly favourable repayment terms as described aside:
Possibility of repayment up to 240 installments, offering flexibility and financial comfort.
Fixed interest rate of 3% for predictable monthly installments, with no risk of increases.
Up to 75% on the basic debt, up to 85% on the surcharges of overdue debts to AADE and e-EFKA and up to 95% on AADE fines
Abolition of the prepayment penalty for public debts in the extrajudicial procedure (in bilateral arrangements)
If a settlement of public debts is achieved through the out-of-court settlement and the first instalment is paid, the debtor has the right to apply for a certificate of tax and insurance compliance for any use (transfer of property, etc.)
Wishing to provide you with the best possible service, at Cepal Hellas we have created a specialized team to manage settlements related to the Out of Court Debt Settlement Mechanism (OCW). For more information about the Out of Court Debt Settlement Mechanism, you can contact our executives at email: ocw_unit@cepal.gr
DEBT ARRANGEMENTS
Regulation under the Code of Conduct (Law 4224/2013)
At Cepal Hellas we attach great importance to creating a relationship of trust with you. We systematically seek flexible and effective solutions, adhering with absolute responsibility to all the principles of the Code of Conduct and contributing to the facilitation of debtors who find it difficult to meet their financial obligations.
For this reason, we provide them with immediate and clear information on solutions for the restructuring or final settlement of debts in arrears, taking into account their individual possibilities and specificities.
We apply and strictly follow the Code of Conduct of Law 4224/2013, which was adopted in 2014 by the Bank of Greece with effect from 31 December 2014 and, subsequently, revised pursuant to Decision No. 392/1/31.05.2021 of the Credit and Insurance Committee (Government Gazette, vol. B, 2411/07.06.2021).
In order to implement the Code more effectively and ensure full compliance, we have established a dedicated team to manage Code of Conduct applications. For your information and applications
Take note through the Code of Conduct letter (notice) we have sent you.
Enter the digital platform of the Code of Conduct through the Single Digital Portal of the Public Administration (gov.gr-EPSP) and the relevant link. Select the section “Property and Taxation” > “Debt Management” > “Code of Conduct “ and submit your request by selecting the “Create New Request” field and providing the data and information requested.
Submit separate requests for each portfolio to which your debt belongs.
The dedicated management team will review your request, and send you their proposal for the settlement of your debt in accordance with the Code of Conduct.
Through the platform, you will have the possibility to select or reject the proposal for the arrangement we have sent you. We will then contact you to complete the process.
Finally, we will inform you of the outcome of the arrears resolution process, as well as your classification as a Cooperative or Non-Cooperative Borrower.
For more information on the Code of Conduct Arrears Resolution Process and to access our forms and brochure click here:
DEBT ARRANGEMENTS
Reduced Rate Reward Program "Euribor Freeze"
At Cepal, we believe in working with our clients and in the essence of a deeper understanding of their needs. For this reason, we design actions and reward programs for debtors, wishing to strengthen consistency by offering additional incentives.
The objectives, content, scope, as well as the terms and conditions of participation (inclusion criteria, duration, etc.) in each of them are determined according to the type of the respective program, and are communicated separately, as the case may be.
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Economic developments such as interest rate increases by the European Central Bank, have brought significant changes in the management of loan obligations. In response to these challenges, in December 2022 we launched a reward program, offering consistent borrowers (up to 90 days past due) of certain portfolios a reduced base rate for 12 months on Euribor/Libor/EKT floating rate contracts. Closely monitoring the conditions and developments in the money and capital markets, this program has been renewed repeatedly – confirming our commitment to stand by our borrowers at every juncture.
Program Progress
- 12/2022 – 12/2023: reduced base rate 0.6% – In 12/2022 Euribor 3m was ~2%
- 1/2024 – 7/2024: reduced base rate 1.5% – In 6/2024 Euribor 3m was ~ 3.6%
- 7/2024 – 12/2024: reduced base rate 2.5% – On 12/2024 Euribor 3m is expected to be ~ 3.2%
Continuing our systematic effort to be by your side, at all times, from February 2023, a reduced base rate applies to all new arrangements for the first 5 years of the total repayment term. The specific reward program is reviewed periodically, taking into account market developments and the fluctuation of Euribor, ensuring its flexibility and continued adaptation to current conditions
In particular:
- 2/2023-9/2023 : reduced base rate 0,6%
- 10/2023-3/2024: reduced base rate 1,5%
- 3/2024-6/2024 : reduced base rate 2%
- Από 7/2024: reduced base rate 2,5%
Deeply believing that every challenge is an important opportunity for growth and progress, we are here to face the challenges together – offering the support and flexibility you need.
CONTACT
Get in touch with us:
Available Ways
We are always here to give you the support you need and make sure to give you the best possible service.
