A new reality for «over-indebted» lenders is now being created by the sale of non-performing loans to management companies, also known as «funds».

The fact that the bank transfers the loan and thus «dissolves» the relationship with the borrower, does not mean that the latter gets out of debt. The bank will now be replaced by the fund, with which it will be called upon to agree on how to repay its loan.

The fund bought the loan at a very low price because on the one hand it buys together and the risk of never repaying, on the other hand because the fund has all the «means» and specialization to collect. And it also aims at high performance. This means that the funds will claim the debts in a much more coordinated and dynamic way in relation to the banks, will be much more active in the movement of enforcement proceedings to collect the claim, as well as more sparingly in the cases of reduction of debts.
It should be noted that the funds have the know-how and the «tips» to look for the assets of debtors abroad, «scanning» the borrowers of each category.

First of all, the debtor must keep in mind that the fund will require the entire debt and not the «regulated» debt that the borrower had with the bank and did not serve. With the ownership of the loan, the funds acquire virtually all the rights of the bank and after the abolition at the end of 2017 of the ban on the sale and mortgage regardless of whether it is a first home or not, their role in the acquisition of old debts is not exhausted. Consumer loans or credit cards, which have no collateral and are forgotten from the past.
Instead, it extends to pre-marked loans, such as household loans.

The defense in the above is only the recourse to the provisions of the law, for the protection of the debtor’s property but also the cessation of any procedure that has been initiated for the auction of even his first residence.