The unpaid claim on consumer, housing and business loans cannot exceed three times the capital disbursed, according to the draft law reported on 17 October 2026. A 100,000 euro loan would be capped at 300,000 euro.
For old farm debts the limit falls to twice the capital received, which is 200 percent of the original amount. On the 100,000 euro example, the farm ceiling is 200,000 euro.
The bill is open for public consultation until 22 October, and its provisions would apply only once it is passed. General Secretary Theoni Alampasi described the aim as less uncertainty for borrowers.
The Ministry of National Economy and Finance is advancing a new framework for borrowers whose loans are in arrears. Its aims are to curb excessive interest charges, speed up bilateral arrangements between borrowers and creditors, and set limits on what banks, funds and loan servicers can demand. The draft is in public consultation until 22 October.
Speaking to the ANA-MPA news agency, the ministry's general secretary for the financial sector and private debt management, Theoni Alampasi, put the goal this way:
“less uncertainty for the borrower, more responsibility for the creditor and a system for arranging private debt that works by rules and produces real solutions”
The centrepiece is a cap on the total claim arising from a loan or credit. Under the draft, the unpaid claim cannot exceed three times the capital disbursed for each loan or credit. Where a borrower holds several loans, the same limit applies to the sum of their original capital. For old farm debts the ceiling falls to twice the capital received, and for current-account facilities it is calculated on the debt as it stood at the last drawdown.
The limit would apply automatically once the law takes effect, covering consumer, housing and business loans. It would hold whether the claim remains with the original bank or has been transferred, securitised or passed to a servicer.
Data from the article text
The articles use worked examples. On a 100,000 euro loan, the total claim could not exceed 300,000 euro. If the debt had grown to 500,000 euro, the 200,000 euro above the limit would no longer be payable. Some coverage frames this as a haircut of up to 200,000 euro.
Earlier payments count toward the recalculation. A borrower who has already paid 80,000 euro would owe no more than 220,000 euro, or 120,000 euro for a farm debt, where the ceiling on the same loan is 200,000 euro. A separate rule covers loans granted before 1990 where the original capital cannot be identified.
The draft also includes mandatory deadlines for debt arrangements, tighter duties for banks and servicers, and further protections against property auctions. The articles name these measures without setting out their terms. Because the text is still a draft, none of these provisions applies until the bill is passed, and consultation closes on 22 October.
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Under a draft law in public consultation until 22 October, the total claim on a loan could not exceed three times the capital disbursed, or twice for old farm debts. The cap would apply automatically, whoever holds the loan.
AI text based on reports by in.gr, NEWS 24/7 and ΣΚΑΪ. Published .