According to the law, the regular execution by the debtor of the obligations imposed by the decision of Law 3869/2010 (Overindebted Households) issued in application of paragraphs 2, 4 and 5 of Article 8 results, without prejudice to the provisions of paragraph 6 of Article 4 and paragraph 2 of Article 9, in his automatic discharge from any existing debt balance towards all creditors, even towards those who did not announce their claims.
More simply, upon the expiration of the regulation of art. 8 of law 3869/2010, i.e. the regulation that decides on the payment of installments (or zero payments) to creditors for a period of five years or in other decisions for a period of three or five years, the borrower may request official certification of his exemption from all his loan debts, even against those who did not announce their claims.
This is essentially a short and simple judicial procedure in which, after examining whether the borrower has complied with the decision of the Court of Peace, it is officially decided that he will be definitively discharged from any remaining debt except for what was decided to be paid to save his main residence, if he has a residence. The judicial procedure is carried out only by presenting documents, it is determined in most Courts of Peace very quickly and a decision is issued after these.
This decision is the most indisputable and powerful document that the borrower has at his disposal, marking the definitive end of his legal adventure for the settlement and discharge of his debts.
Especially after the merger or absorption of the Banks and the emergence of the Loan and Credit Claims Management Companies (the so-called funds) that have undertaken most of the loans, this decision acquires great importance, as it proves with certainty in every direction and forever in the future the completion of the process of Law 3869/2010 (Overindebted Households).
Thus, the borrower will now be able, without any restrictions or stress, to organize his life, his finances, acquire property or inheritance, transfer assets and do everything without any pending issues in relation to his loan.
Also, it is particularly important that in the event of the borrower's death, his certified discharge from debts completely secures his heirs, who do not leave any outstanding debts and will not need to take any action in this regard.
Our office can advise you on anything you need regarding your final discharge, while also undertaking to implement the above actions.
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