The issue of non-paid bank loans that lead their debtors to despair tends to become more and more stressful. Many of them have been forced to end up with uneven arrangements by paying only interests (no capital), while it becomes scarcely clear from now on the threat of mass house auctions even those being of first residence status especially after the buyout of “red loans” by the greek recapitalized banks.

This, these last years it is under way the especially dynamic institution of bank mediation, while it has been proved that in terms of nonperforming loans, financial institutions are nowadays more flexible in order to proceed with arrangements with those debtors who happen to be in a state of over-indebtedness.

The stages of a bank mediation scheme are as follows:
• Submitting a plea to the Bank, at the initiative either of the debtor or of the Bank itself
• Choice in common of a neutral and independent mediator out of the list of mediators of the Ministry of Justice. The Mediator, who has been with special skillset, shall be able to assist the parties by establishing a commonly accepted solution
• The place where Mediation shall take place is defined freely by the parties in communication with the Mediator.

All of the mediation participants are bound by the implementation of confidentiality. Lawyers of all parties have to be representing their clients in the Mediation process
Its duration is usually of 5 to 7 hours long. If any agreement is reached, then Records of Success shall be prepared, which then by being submitted to the competent Single Court of First Instance shall be considered an executable title

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