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Greek banks are beginning to restructure uncollectible loans

22 March 2014 / 16:03:07  GRReporter
2980 reads

a. the fact that he or she has been determined as uncooperative, as well as the reasons for this;

b. details and the schedule, based on which the bank will proceed with any legal proceedings (liquidation or others);

c. assessment of their value for the debtor;

d. expected impact on the credit rating of the borrower based on the internal procedures of the institution;

e. the risk of liquidation of any collateral provided by guarantors;

f. the fact that the debtor and possible guarantors will continue to be liable for any remaining balance after the liquidation of the collateral, as well as the way of interest accrual;

g. the fact that any restrictions on fees and penalties provided by the provisions of the contract may be terminated and other existing laws or regulations may be applied.

Tags: Bank of Greece debtors delayed loans borrowers
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