The new debt settlement scheme in up to 72 installments for obligations owed to AADE and EFKA is expected to offer significant relief to businesses, freelancers, self-employed professionals, and individuals with outstanding debts. The regulation is expected to create a new opportunity for taxpayers to organize their financial obligations more effectively,restore tax and social security clearance , and avoid enforcement measures such as bank account seizures and property liens.
The debt settlement 72 installments scheme is expected to become one of the most important financial developments for taxpayers facing liquidity challenges and accumulated tax or insurance liabilities.
Debt Settlement 72 Installments: Which debts are included
The debt settlement 72 installments program mainly applies to overdue debts, that were created up to December 31, 2023, and remain unsettled by the date the new regulation officially comes into force.
New debts created from January 1, 2024, onwards are not expected to be included. These obligations must first either be paid in full or settled through a standard installment arrangement before applying for the new scheme.
In simple terms, taxpayers cannot leave new debts unpaid while simultaneously requesting a favorable settlement for older liabilities.
Who can apply for the debt settlement 72 Installments Program
The new debt settlement 72 installments scheme is expected to be available to:
- Individuals with overdue debts
- Freelancers and self-employed professionals
- Farmers and independent workers
- Businesses and legal entities meeting the required criteria
On the other hand, cases that may remain excluded include:
- Existing active settlements
- Pending tax return submissions
- Companies currently undergoing bankruptcy procedures
For this reason, a proper financial and tax review before submitting an application is highly recommended.
Debt Settlement 72 Installments: What You Should Check Before Applying
One of the most important conditions of the new regulation is that all newer debts from 2024 onwards must first be settled or included in a standard installment arrangement of 24 or 48 installments.
If new overdue debts remain unpaid, the application for the debt settlement 72 installments program may be rejected.
Special attention is also required in cases involving:
- Lost previous settlements
- Outstanding VAT or income tax declarations
- Frozen bank accounts
- Debts owed to multiple authorities simultaneously
A proper review before applying can help avoid unnecessary penalties and future complications.
How the 72 Installments Process Works
The application process is expected to take place electronically through the AADE and KEAO online platforms.
The basic steps include:
- Reviewing total outstanding debts
- Settling newer liabilities
- Submitting the application through TAXISnet
- Selecting the preferred number of installments
- Paying the first installment to activate the settlement
Proper preparation before submitting the application is essential, as even small mistakes may lead to rejection or loss of the arrangement.
Interest rate, cost and important obligations
The debt settlement 72 installments arrangement is expected to include an annual interest rate of approximately 5.84%, while the minimum monthly installment is estimated at €30.
No principal debt write-off is expected under this arrangement. This means that the larger the number of installments selected, the higher the total repayment amount due to accumulated interest.
To maintain the arrangement, debtors will need to:
Pay installments on time
Submit all required tax returns
Avoid creating new overdue debts
Failure to comply may result in the loss of the arrangement and the reactivation of enforcement measures.
When the Out-of-Court Settlement Mechanism May Be a Better Option
Although the debt settlement 72 installments scheme can be an important solution for many taxpayers, it may not always be the most beneficial option.
For businesses or individuals with large total debts, the out-of-court settlement mechanism may offer:
- More installments
- Lower interest rates
- Partial debt write-offs in certain cases
In some cases, the out-of-court mechanism can provide up to 240 installments with interest rates close to 3%, making it a more sustainable long-term solution for heavily indebted businesses.
Comparison between the 72 Installments scheme and the out-of-court mechanism
| Criteria | 72 Installments | Out-of-Court Mechanism |
|---|---|---|
| Maximum Installments | 72 | Up to 240 |
| Interest Rate | 5.84% | Approximately 3% |
| Debt Write-Off | No | Up to 28%+ |
| Process Speed | Faster | More time-consuming |
| Suitable For | Medium-sized debts | Large debt exposure |
What Taxpayers Gain from the Debt Settlement 72 Installments Scheme
Joining the debt settlement 72 installments program may provide several important benefits, including:
- Restoration of tax clearance
- Restoration of insurance clearance
- Suspension of seizures and enforcement measures
- Improved cash flow management
- Gradual repayment of outstanding debts
For many businesses and professionals, choosing the right settlement option can become an important step toward financial recovery and stability.
Debt Settlement 72 Installments: Why proper guidance matters
Even though the process may appear straightforward, every case has different financial, tax, and legal parameters that should be carefully reviewed before applying.
A proper evaluation of debts, available settlement options, and long-term obligations can make a significant difference both in the approval process and in maintaining the arrangement successfully over time.
Our team supports businesses, freelancers, and individuals throughout every stage of the process, from debt analysis and settlement applications to out-of-court mechanisms and alternative financial solutions.
If you would like to review your case and find the most effective solution for your debts, our team is here to guide you every step of the way. Contact Link Consulting today and let’s discuss the option that best fits your financial needs and long-term goals.
