Management Companies: How to inform borrowers – 18 services request new permission from TE

The standards of electronic information they have from banks have since yesterday moved over 2.4 million with loans of EUR 91 billion, managed by the servicers. Meanwhile, 18 of the 23 management companies reportedly submitted an updated dossier The online platform for informing borrowers from the management companies now in place is a reform facing a negative practice of opacity and lack of service to debtors until now. It is an obligation of servicers established by Law 5072/2023 of the Ministry of National Economy and Finance for Loans and launches a new era in the way the services are provided to borrowers, without time-consuming procedures, directly, valid and at no cost. From now on, borrowers wishing to have immediate and individualised information on their debt may enter the management company’s website that manages their loan and be informed of the amount due by a detailed record of the amounts for capital, interest, commissions, any other charges, as well as the applicable interest rate, as well as of the frequency of payments, their amount, the date of payment of each instalment, the current balance and the bill of service of the debt. The borrower will enter the platform with personal codes given to him by the management company, just as he does with his bank’s e-banking. To receive the personal codes, the borrower will first make its identification via or Taxisnet and then the management company will send him the personal codes to his email. It is noted that if the borrower has debts to more than one management company, it should be informed of its debt from the e-service of each individual. The borrowers will be able to communicate by phone for questions with the management company, while they will be able to continue their communication with the company and outside the digital platform, as was done by 31/3/2024. In this case, however, the information will not be direct as it will be carried out in writing, as was done by 31 March 2024, with a waiting period, by law, of 30 days.