MonthJanuary 2019

Judges Decisions-Payday Loans and its Debiting debts



One of the most important examples of social sensitivity was Justice, with a decision-making station, whereby a matrimonial marriage owed to an unemployed spouse and two adult children was owed, amounting to 845,000 euros.


Judges and their Decision Making

Judges and their Decision Making



The decision was taken by the Ierapetra County Court, which, for the first time in the application of the Hedged Households Act, proceeded to “total removal of the applicant’s debts and rescue of her property”.

The 53-year-old farmer had been charged in two banks for five loans, both as a debtor and as a guarantor on an OE loan, at the amount of 845,000 euros. Her family’s monthly income reaches 616.81 euros from her own farm work, her husband, farm subsidy and parental assistance. It has an olive grove of 22,339.89 square meters and a half of its own with her husband, while they are housed in the home of her mother-in-law.

She has been addressed to the Consumers Protection Union of Crete since the year 2012 and with her counseling and guidance she joined the favorable provisions of the Katseli law. In essence, she is a married farmer, an unemployed husband and two adult children – one of whom she studies – dipped in over-indebtedness without being able to overthrow her. In particular, it was accepted that there was no prospect of an improvement in the already poor financial situation claimed and proved by the claimant, since the impossibility of finding a job would create a complete inability to meet its monthly expenses.

In fact, the Court found that “the above facts do not permit any consideration for the determination of monthly payments for the remainder of the remaining time until the limit of the monthly payments under Article 8 (2) of Law 3869/2010 (three years) “.

Thus, the applicant was completely deprived of its debts, since the Court ultimately set zero payments for the period of three years following the publication of the Act. 38/2017 of decision (No. 8 par. 2 of Law 3869/2010). This final judgment of the Court came as a follow-up to the fact that zero payments were initially levied at first, which were maintained by the second final judgment of the Court of Justice and, hopefully, by the final decision.

In essence, with these assumptions, the Court proceeded with a groundbreaking statement fully in line with the philosophy and objectives of Law 3869/2010 on the protection of the debtor: If the debtor’s living conditions so require, it is not impossible to completely delete the his debts. The decision of the Ierapetra County Court, mentioning in its rationale the provision of Article 2 (1) of the Constitution on respect for and protection of human value as a primary duty of the State, points out that the Constitution sets as a limit the maintenance of those conditions allow citizens to live with dignity. Thus, according to the judgment, “… if the court deprives this possibility of the applicants, then it asserts, in relation to the value of man, the satisfaction of property rights, contrary to the above fundamental constitutional provision which must be inspired by Law and its interpretation “.


Other Deletions

Other Deletions




It is not the first court decision to write off debts. But it is the first time that debt is so high. Since 2011, around 15 court rulings have been issued, with debts of thousands of euros written off. About three months ago, the decision of the Rhodes County Court to erase consumer debt of 322,000 euros was impressed. It was a write-off, as it was the first court decision that almost completely relieved the debts of an over-indebted consumer. A new record-breaking record was recorded a month ago. The Irakleio Jurisdictional Court decided to write off the € 400,000 debt of a highly indebted consumer to four banks.

He is a 38-year-old non-commissioned officer from Crete and a father of three children, who, before the crisis broke out in our country, was perfectly consistent with paying the monthly installments to all four banks. However, because of the tragic cuts he suffered in his salaries, he was unable to repay his debts.

Apart from the fact that the court has calculated that the 38-year-old has always been consistent with his obligations, he acknowledges that he has no real estate at all, so he decided to “cut” 385,000 euros. Based on the decision of the Court of Justice, the 38-year-old will have to pay up to 48 months to all four banks in installments of 309 euros, a total of 14,832 euros. If it proves consistent with its obligations, it will be finally released from its remaining debt of € 385,000.












Monthly payments-For Consolidation of Payday Loans

Using credit redemption proves to be ideal for the individual. Indeed, this solution could preciously meet all the financial requirements coming from this subject. Nevertheless, advantageous features require many essentialities in order to carefully guarantee the services rendered. See for a write-up

With regard to these positive points, the repurchase of credit could generate in favor of the individual a favorable evaluation of its monthly payments. These are indeed valuable assets to distinguish the appropriate broker vis-à-vis all others.


The Crucial Importance of the Monthly Payment at the Level of the Operation


monthly payments in repurchase of credit Before you commit to your loan, you should theorize your repayment capabilities so you do not encounter any difficulties. In order to repay his credit, the individual pays the amount of his monthly payment plus interest.

These interests then serve as essential points on which the monthly payments to which the individual will have to face, can be lightened. This portion of the capital to be repaid per month, ie the monthly payment, will be curéed gradually as a result of the concept of the repurchase of credit.


How to Achieve a Narrowing of his Monthly Payments?


The monthly payment is actually an obligation for the individual towards his lender. Nevertheless, providing itself with advantageous parameters could be feasible.

The repurchase of credit is able to make sure that the interest which is added to the monthly payments is attenuated. As a result, this so-called “debt restructuring” can fully reduce the various amounts to be repaid.

This amounts to saying that the monthly payment essentially depends on the reimbursement rate imposed by the only organization that has contributed to the repurchase of credit. This rate, which will evaluate the small supplement to which the share of its capital will be added, will be able to provide it with valuable contributions, considering this favorable situation.