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New record, with settlements of 500-plus million euros in July

In total, there have been 21,176 successful settlements, corresponding to initial debts of 7,2 billion euros, settled through the extrajudicial mechanism up to the end of July.

The rising performance of the out-of-court settlement mechanism continued in July, leading to a new record of 1.952 settlements concluded during the month, a figure corresponding to debts of 518 million euros, according to a statement on Monday issued by the Ministry of National Economy and Finance. 

In total, there have been 21.176 successful settlements, corresponding to initial debts of 7,2 billion euros, settled through the extrajudicial mechanism up to the end of July.

Specifically, in the monthly progress report of the extrajudicial mechanism of the General Secretariat of the Financial Sector and Private Debt Management, the approval rates of financial institutions (banks and management companies) for applications with debts of up to 250.000 euros are presented in detail, with Intrum, QQuant and Veraltis scoring the highest percentages for the month of July as well.

In addition, data were provided on the bilateral arrangements made during the month of June, amounting to 357 million euros for 6.218 debtors and corresponding to the largest loan management companies, four of which (DoValue, Cepal, Intrum, QQuant) made a total of 5.200 direct settlements with debtors for 337 million euros. It is noted that for all four companies, most of the arrangements concern housing loans.

For the most effective use of the available debt settlement tools, it should be noted that the General Secretariat of the Financial Sector and Private Debt Management provides a nationwide service carried out via a video or telephone call by appointment, through the platform or at the phone number 213 212 5730.

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