72 debt payments: who will not fall into the scheme

In Greece the new scheme is expected to launch in June 72 payments By old debts to tax and insurance funds. But debtors with new unsettled debts risk being left behind.

Thousands of debtors in Greece waiting for the launch of a new installment plan until 72 payments for debts to the tax service and insurance funds. The platform is expected to be activated in June, but not everyone will be able to get into the new scheme.

The new emergency installment plan concerns debts to Ανεξάρτητη Αρχή Δημοσίων Εσόδων (ΑΑΔΕ, Independent State Revenue Administration) And Ενιαίος Φορέας Κοινωνικής Ασφάλισης (ΕΦΚΑ, Unified Social Insurance Fund), which became overdue before December 31, 2023 and remained unsettled for April 21, 2026.

Applications, according to available information, can be submitted until the end December 2026. But the main filter is not in old debts, but in new ones: if the debtor has overdue obligations after January 1, 2024they must first either be paid or included in the current permanent settlement scheme. Only after this will it be possible to apply for installment payment of old debts in 72 payments.

Who can be “cut off” from the scheme

The problem concerns those taxpayers and businesses that have old debts that technically fall under the new scheme, but at the same time have accumulated newer outstanding liabilities. In this case, access to 72 payments will be blocked until the fresh debts are closed or put into separate installments.

In practice, this means that a debtor may be eligible for the new debt scheme until the end of 2023, but will not be able to benefit from it if they have left the last two years’ tax or insurance liabilities open. The state, as usual, offers a second chance, but first asks to deal with the first, third and all the intermediate tails.

Terms of the new installment plan

According to Greek media, the new scheme could affect around 1.3 million individuals with unsettled debts of approximately 31.5 billion euros and about 284 thousand legal entities with debts for 63.8 billion euros. In general, the volume of old debts that could potentially be included in installments is estimated at approximately 95–96 billion euros.

The interest rate under the scheme is set at 5.84%minimum monthly payment – 30 euros. This means that small debts will not necessarily last for all 72 payments: the actual number of payments will depend on the amount owed and the minimum payment amount. In addition, the longer the repayment period, the greater the resulting interest burden.

It will not be possible to selectively include only part of the old debts in the scheme. The logic of the measure is that the debtor must include all relevant old obligations to the relevant authority. There is also no provision for switching from existing schemes to the new 72-payment installment plan for those already on another repayment plan.

When the right to installments is lost

The right to installment payments can be lost if the debtor stops paying installments or creates new unsettled debts. In this case, the scheme may be canceled and penalties may be reinstated.

Therefore, it is important for debtors not only to enter the program, but also to remain consistent with current obligations. Otherwise, the installment plan will turn into a short pause before the return of the previous problems, only with a more difficult payment calendar.

What to do now

The first practical step for citizens and businesses is to check their debt picture in myAADE And Κέντρο Είσπραξης Ασφαλιστικών Οφειλών (ΚΕΑΟ, Insurance debt collection center).

If the debtor only has old unsettled debts before December 31, 2023he will be able to wait for the platform to open to submit his application. If there are debts that arose after January 1, 2024they need to be closed in advance or placed on a separate permanent installment plan. Without this, entering a new scheme 72 payments will be blocked.

Editorial comment

The new scheme looks like an attempt to give debtors another manageable way out of old debts. But the design itself shows the scale of the problem: we are not talking about several thousand forgetful citizens, but about tens of billions of euros of debt to the state and funds.

For many families and businesses 72 payments can be a real respite. But this is not debt cancellation or a magical amnesty. When betting 5.84% and the need to simultaneously service current obligations, the scheme will only help those who have a stable income and the ability to comply with the schedule.

Others risk falling back into the familiar Greek trap: old debt appears to be settled, but new taxes, fees, energy, rent and everyday expenses quickly create another layer of debt. The state offers a ladder, but not everyone is strong enough to climb it.

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