OVER-INDEBTED HOUSEHOLDS – Conditions for Inclusion under Law 3869/2010
In order for a debtor to be included in the Katseli Law (3869/2010), they must cumulatively meet the following conditions:
- Be a natural person, i.e. not a trader. It is noted that small traders and self-employed professionals who do not acquire commercial status by law are excluded from this restriction and may be included.
- Be in a permanent state of inability to pay, having at least one overdue debt.
- All debts must have been incurred more than one year prior to the submission of the application for inclusion in the Law and must not arise from torts, administrative fines, monetary penalties, taxes and duties owed to the State and Local Government Authorities of first and second degree, charges owed to public legal entities, contributions to social security institutions, or loans originating from social security bodies.