Greece Lowers Debt Relief Threshold To €5,000

On July 27, 2026, Greece’s General Secretariat of Financial Sector and Private Debt Management will launch a digital platform extending out-of-court debt restructuring to individuals and businesses owing between €5,000 and €10,000. Previously, the out-of-court mechanism primarily served larger debtors with obligations exceeding €10,000, leaving many smaller debtors vulnerable to immediate collection measures.

The new law, 5313/2026, reduces the minimum debt requirement, potentially opening the process to approximately one million additional public debtors. Eligible individuals can now apply to halt seizures, spread payments over up to 35 years, and potentially receive debt forgiveness depending on their financial situation.

The platform requires a minimum monthly payment of €50. While the system proposes repayment plans based on individual financial profiles, applicants must consent to data verification. The government reports having already secured over 64,000 debt arrangements totaling approximately €20 billion through the existing out-of-court mechanism.