First Borrowers’ Advice Bureau to open in March on pilot basis

The first Borrowers’ Advice Bureau, which will serve as a pilot for some 120 similar centres planned in the future, is to open on March 1 within the Special Secretariat for the Management of Private Debt in the old Keranis factory building in Athens. The bureau will be officially inaugurated next Wednesday and its phone line will be 2132125730‬.

According to Special Secretary for the Management of Private Debt Fotis Kourmousis, the aim of these bureaus is to assist in the settlement of some 20 billion euros in mortgage and consumer loans owed by private citizens in Greece. They are initially expected to process approximately 40,000 debtors each year and, once the relevant electronic platform is fully operational, the 250 employees in such centres can serve up to 1.8 million citizens.

The finance ministry’s planning envisages that the next two bureaus will open in Athens and Pireaus in March, and then following 12 in the other regional capitals of the country. The aim is to have 120 such centres operating in the first half of 2017, of which 30 will then become upgraded to Borrowers’ Advice and Support Centres in the second half of the year.

These advice and support centres will be in a position to provide loan takers with every type of information or assistance needed in connection with their loans, in order to make it possible for them to keep abreast of payments due under the settlements reached with banks and to service their loans without delays.

In the meantime, the Special Secretariat for Private Debt Management intends to have its website running by Easter in order to provide information to borrowers on the options the legal framework makes available to overindebted households and businesses and to help them find solutions for their individual case.