The upward pace of the out-of-court settlement mechanism continued, leading to a new record of 1,952 settlements for the month of July, corresponding to €518 million in arrears.

In total, 21,176 successful settlements were recorded for initial debts of €7.2 billion settled through the out-of-court mechanism by the end of July.

Specifically, the monthly progress report of the extrajudicial mechanism of the General Secretariat for Financial Sector and Private Debt Management details the approval rates of financial institutions (banks and management companies) for applications with debts up to €250,000, with Intrum, QQuant, and Veraltis recording the highest rates for the month of July as well. 

In addition, data is offered on bilateral settlements made in the month of June, amounting to €357 million for 6,218 debtors, corresponding to the largest loan management companies, four of which (DoValue, Cepal, Intrum, and Quant) made a total of direct settlements for 5,200 debtors at €337 million.

It should be noted that for all four companies, most of the adjustments concern mortgage loans.