The Ministry of National Economy and Finance presented a bill, which aims to impose new rules of transparency in the relations between servicers and their clients, while improvements are also being made to the out-of-court mechanism and to the real estate re-leasing organization.
At the same time, freelancers and the self-employed are required to link their business accounts to the IRIS direct payment system, while a Private Debt Monitoring Register is established and the “Hercules III” program is relaunched.
Regarding servicers, obligations of transparency, information and respect for debtors’ rights are established.
As of next March, the companies will have the obligation to present all the details of the borrowers’ debts – duration, amount, interest rate.
Protection for vulnerable citizens is also being expanded. The bad loan management company is obliged to appeal to the Court and prove why it rejected the borrower’s request to join the out-of-court settlement. It is worth noting that currently, one in two applications from vulnerable borrowers is rejected.
