If you are facing difficulties in repaying your loans and credit cards, there are ways to overcome them.
The first step is to find out all the options available to you.
What you need to know:
What can I do if I am having difficulties in repaying my debts?
You can apply for debt settlement. Depending on your needs, we will work out a payment plan that corresponds to your current financial situation. To review your loan or credit card settlement, we do not place any limits to the extent of your financial hardship.
What debt categories are included in the solutions available to me?
The Bank aims to help you settle all your debts. You can choose to settle your loans (consumer or mortgage), your credit cards or any other debts. Depending on your financial/demographic profile, we will go over all the solutions available to you, such as extending the loan term, or paying just the interest or a fraction of your instalment for a specific timeframe. Our common goal is to come up with a realistic settlement for all your products.
How can I find out about the options available to me?
Visit a Piraeus Bank branch to be fully briefed on everything and find a solution that suits your needs. The branch will also keep you up to date on the progress of your application.
When can I contact the Bank?
As soon as you are facing or are about to face difficulties in meeting your repayments. No matter if the problem is temporary or more permanent, there are solutions available for all cases. And even if the problem extends beyond the settlement term, the Bank will review your application again.
Is the debt settlement process complex?
Not at all. In the majority of cases, you will need to visit the Bank branch twice: once to submit the supporting documents and a second time to sign the loan and/or credit card settlement agreement.
What supporting documents will I need?
You must bring with you your current financial information (latest income tax return/E1 form, E9 form or property tax form) and any other documents proving your inability to meet your financial obligations (unemployment card, medical certificates, etc.). If we ask for any further documentation, it would be so that we could substantiate your inability to pay.
If I have more than one loan/open loan/credit card, can I pool all my debts in one?
Yes, provided that the debts are with the same bank and not with different banks. However, you can still proceed with settling your debts with other banks as well. We review all the details relating to your profile and we propose a settlement that meets your needs to the extent possible.
If I proceed with a settlement and then my finances improve, can I terminate my loan/credit card settlement and return to repaying my regular instalment?
Yes, you can terminate your settlement. However, to avoid any future problems with your repayments, we must closely review your new financial situation.
How long does it take for the settlement application to be finalised?
Each solution is tailored to the individual needs of each customer. For this reason, there is no set timeframe, as it may differ depending on each case. However, the Bank strives to finalise all settlements as soon as possible.
