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Red cloth the managers access to bank books

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& nbsp & nbspEleftheria Paizanou & nbsp; & nbsp;

Two years of debate and consultation in Parliament and the reservations of parties and others have not yet been lifted about the bill by which loan management companies and non-credit institutions will have access to banks' books, to facilitate the continuation of lawsuits against borrowers. b>

The bill amends the Proof Act and was put under the microscope of the members of the Parliamentary Finance Committee in 2020, however, due to legal issues and other issues related to the courts, the bill was referred to the Parliamentary Committee on Legal Affairs for discussion. As it was said in yesterday's discussion of the Legal Committee, the banks, after selling loans to the credit repurchase companies, also give them the bank books. However, under current law, loan management companies are not allowed to take these books to court, as banks do. Something that will be done with the bill.

SEE ALSO: & nbsp; Russian clients and money are lost, lawyers – accountants

It should be noted that the bill will improve the legal framework for the management of non-performing loans outside the banking sector and the strengthening of the secondary loan market, with a positive impact on financial stability and the economy in general. The need for the approval of this bill was stressed by the representative of the Ministry of Finance, in order to regulate loans of a few million.

Loans of millions will be regulated & nbsp;

According to figures provided to the Commission by a representative of the Ministry of Finance, loans amounting to € 12 billion have been sold to credit companies. Of these, as he said, loans of € 7.5 billion are in the portfolio of KEDIPES, while other loans of approximately € 4.5 billion remain in banking institutions. As he explained, in order to regulate these loans, the relevant bill will have to be approved, as loans that remain in the economy for a long time will be regulated. According to the ministry's spokeswoman, the approval of the bill will facilitate the management of the relevant loans. of law. He pointed out that the amendment of the law will create inequality in other organizations, which promote cases in justice. The Borrowers' Protection Association supported the bill.

Borrowers treated badly & nbsp;

Speaking on behalf of the Borrowers Protection Association, Jenny Papacharalambous complained that the association receives a lot of complaints from borrowers who do not have the right treatment and behavior from companies outside loan management companies. As he said, these companies do not proceed with sustainable loan restructuring and ask for pressure money from the borrowers to repay their loans.

The chairman of the Parliamentary Committee on Legal Affairs and DISY MP Nikos Tornaritis, sent the message to the loan management companies, demanding that they have the right attitude towards the borrowers who are in a difficult financial and psychological position. As he said, the behavior of the borrowers can not continue. In relation to the bill, Mr. Tornaritis stated that his party will be positioned later, after hearing the positions of all those interested.

Damianou harshly criticizes the government

For his part, AKEL MP Aristos Damianou said that the government is unrepentant, after two years of pandemic, economic crisis and incalculable effects on the economy since the war in Ukraine, has reinstated a bill that will facilitate the issuance of decisions to the detriment of borrowers and to the benefit of investment funds, credit companies and KEDIPES. It is recalled that this is not the first bill concerning loan managers that provokes strong reactions. The Parliamentary Committee on Finance is pending the bills by which the loan management companies will have access to the data of the borrowers and guarantors in the Artemis database and in the Land Registry. Due to the reservations that exist on the issue of guarantors, the discussion of the bills was not completed, which in fact are prerequisites for the disbursement of the installment of € 85 million, from the Recovery Fund.

Source: www.philenews.com

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