The electronic platform of AADE has been in operation since Friday, April 7, where all those who either lost the old debt arrangements of 72 to 120 installments during the crisis period, or who created new debts during the same period, can submit an application , but nevertheless they were consistent in their old obligations.
It is essentially, as reported by the Ministry of Finance, about rewarding those who kept the regulations alive in the energy crisis or about providing a second chance to put their obligations on track for those who lost them due to objective difficulties.
Thus debtors to Tax and Insurance Funds can henceforth and for a certain period of time revive their old arrangements or settle new debts.
A basic condition in order to activate the old arrangements or to settle the debts of the energy crisis, is the non-existence of open accounts of the past.
Based on the whole process and in order for the taxpayers to rejoin the arrangements, they have to pay two installments together.
Let’s see what the road map for the new debt arrangements includes:
1. Which debtors can make use of the provision for revival of the arrangements with the 72 or 120 installments?
All those debtors who have lost their 72 or 120 installment debt arrangements or become non-performing by February 1, 2023.
2. What is the basic condition of reintegration?
To pay two monthly installments until July 31, 2023, the current one and an additional one that repays old obligations in order of seniority. Amounts that are overdrawn amortize older installments in order of seniority.
3. What about missed doses?
The missed installments are transferred with interest at the end of the arrangement.
4. What other benefit does the debtor get from the revival?
Along with the revival that takes place, the debtor can also enjoy all the benefits that accompany it, e.g. insurance and tax awareness.
5. What other obligations does anyone who applies and proceeds to revive a lost arrangement have?
Those who have other unregulated debts beyond those that have been included in the 72 or 120 installments should, within one month of the validation of the revival, include these debts in the permanent arrangement of 24 or 48 installments.
Setting with 36 or 72 doses
6. Who can join the 36 or 72 dose regimen?
Debts that became overdue after November 1, 2021 and until February 1, 2023 can be included in it.
7. What will the interest rate be?
For the 36 installments the interest rate will be 4.37%, while for the 72 installments 5.87%, for those who are consistent in their obligations or had settled debts on November 1, 2021 and continued to service them.
8. What is the minimum amount of the installment?
The minimum amount of the monthly installment will amount to 30 euros and with the inclusion of sofiles in the new regulation of 36 or 72 installments, the benefits that the regulation of 120 installments had, such as the release of bank accounts, will apply.
9. Is there any other beneficial prediction?
Yes. Those who created overdue debts in the period from November 1, 2021 to February 1, 2023 and have already included them in the fixed arrangement of 24 or 48 installments, have the possibility to transfer them to the new arrangement of 72 installments. Also, debtors who on November 1, 2021 have settled debts in the fixed arrangement of 24 or 48 installments which they lost and their debts were confirmed after November 1, 2021, these new debts can be included in the 36 or 72 installments
Indicative examples
* If someone had overdue debts from November 2021 onwards that were included in the fixed 24 or 48 installment arrangement, they can be included in the 72 installment arrangement.
* Adjusted debt on November 1, 2021 based on the fixed arrangement of 24 installments, which was lost in March 2022 and at the same time new debts were confirmed in April 2022. The new debts are included in the new arrangement of 72 installments, while the debts of the fixed arrangement that was lost are reintegrated into a new fixed regimen of 24 doses.
* Someone who acquired overdue debts in the period from November 2021 to February 2023, can be included in the settlement of the 72 installments and this because on November 1, 2021 he had no overdue or unsettled debts.
* In the event that a taxpayer created overdue debts from November 2021 onwards, which he included in the fixed arrangement of 24 or 48 installments, he can now include them in the arrangement of 72 installments.
* If someone on November 1, 2021 had debts that were included in the fixed arrangement of 24 installments and then the arrangement was lost in March 2022 and then new debts were confirmed in April 2022, they can now include them in the new arrangement of 72 installments . The debtor in question has the obligation to include the debts of the fixed arrangement of 24 installments that was lost in a new fixed arrangement of 24 installments, within one month from the moment of inclusion in the new arrangement of 72 installments.
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**Interview with Financial Expert Dr. Maria Konstantinou on New Debt Relief Initiatives**
**Interviewer:** Thank you for joining us today, Dr. Konstantinou. The recent announcement from the Ministry of Finance regarding the revival of old debt arrangements and the introduction of new ones has stirred quite a conversation. Can you summarize the key points for our audience?
**Dr. Konstantinou:** Absolutely! The government has launched an electronic platform as of April 7, allowing individuals who lost their previous debt arrangements of 72 to 120 installments during the recent crisis to apply for relief. This initiative aims to reward those who have remained consistent in their obligations while providing a lifeline to those who faced financial difficulties due to the energy crisis.
**Interviewer:** That’s a significant step. Can you explain who qualifies for these new arrangements?
**Dr. Konstantinou:** Certainly. Debtors who had their 72 or 120 installment arrangements become non-performing before February 1, 2023, can take advantage of this program. To reintegrate, they need to pay two monthly installments by July 31, 2023—this includes their current due and one that addresses previous obligations.
**Interviewer:** What happens if someone has missed installments?
**Dr. Konstantinou:** Missed installments can be transferred to the end of the new arrangement with interest accrued, which ensures that debtors aren’t penalized excessively for past troubles.
**Interviewer:** Are there any additional benefits for those who sign up for this revival?
**Dr. Konstantinou:** Yes, participants can also enjoy benefits like improved insurance coverage and tax awareness. This revival will help stabilize their financial situation and re-establish trust in their fiscal responsibilities.
**Interviewer:** It seems like a comprehensive approach. Are there specific stipulations for new debts incurred during the specified period?
**Dr. Konstantinou:** Yes, if someone has other unregulated debts beyond their included installment plans, they must integrate those into a permanent arrangement of either 24 or 48 installments within a month of the revival’s validation.
**Interviewer:** And what can you tell us about the new arrangements for those who have debts that became overdue after November 1, 2021?
**Dr. Konstantinou:** Individuals with debts from that period can join the new 36 or 72 installment plans. The interest rates are set at 4.37% for 36 installments and 5.87% for 72 installments, provided they have been consistent with their previous obligations.
**Interviewer:** This seems like a measure aimed at providing both relief and structure. Is there any minimum installment amount for these new arrangements?
**Dr. Konstantinou:** Yes, the minimum monthly installment is set at 30 euros. Additionally, these new arrangements will carry benefits, such as the release of frozen bank accounts, similar to those provided in the previous 120-installment plan.
**Interviewer:** It sounds like a proactive approach to managing financial recovery. Any final thoughts for our audience who may be considering applying for these arrangements?
**Dr. Konstantinou:** I encourage everyone affected to take advantage of this opportunity. It’s essential to review your financial situation, understand the terms, and act promptly to ensure you don’t miss out on this second chance. Being proactive can significantly ease your path to financial stability.
**Interviewer:** Thank you, Dr. Konstantinou, for sharing these insights with us today!
**Dr. Konstantinou:** Thank you for having me!
