23 January 2025- Submission of a bill by Alexandra Attalidou to exempt guarantors from loans sold to credit acquisition companies

A bill by Volt MP Alexandra Attalidou was submitted today to the Plenary of the House of Representatives, which provides for the exemption of persons who have contracted third-party loans as guarantors, from any legal or other obligation when the loan in question has been acquired by any other company or entity (e.g. credit acquisition company or property management company) other than the credit institution with which the loan was initially contracted.

 MP Alexandra Attalidou stated:

 “Unfortunately, the economic crisis and the management of loans by banks have turned a large percentage of them into non-performing loans. The loans among them that were not restructured were sold at a low price to acquisition companies.

 Although these loans are covered by the value of the mortgages of the first beneficiaries, which have already become their property, the release of guarantors from their obligations was not foreseen.

 This has made a large number of citizens accountable to these companies with devastating consequences for their incomes and well-being.”