ECONOMY

IKA extends deadline for debtors

ika-extends-deadline-for-debtors

Greece’s main social security fund, IKA, has given debtors owing more than 5,000 euros to the institution and other insurance funds until September 30 to settle their debts.

IKA said that the Center for the Collection of Social Security Arrears (KEAO) has been given the details of relevant cases in order to correct errors made through online payments which could inadvertently have caused a user to be blacklisted as a bad debtor.

According to the management of IKA, checks revealed a high number of cases of users who had wrongly lost their clean payment records as people turned to web banking to pay their debts due to the imposition of capital controls.

Recognizing the prevailing difficult economic conditions as well as the unfamiliarity of most borrowers with electronic payment services, IKA said it is allowing borrowers to keep their previous payment record, provided they settle their debts by September 30.

For reasons of fairness, the option has been extended to all borrowers who missed a payment installment, no matter what the reason. No payment corrections will be possible after the deadline.