Bank account confiscation is paying off


TAGS: Finance

The revenues of the Social Security Debt Collection Center (KEAO) from bank account confiscations in the year to end-August have come to 25 million euros, official data show.

Another 125 million has been collected through the entry of individuals and companies with contribution debts in the 12-tranche payment plan, after they saw their bank accounts confiscated.

In order to regain access to their accounts, debtors have hastened to have their debts arranged and started paying the monthly installments along with their contribution payments, showing that they responded to tougher action against debtors.