The servicers that manage the debts of thousands of borrowers of the Katseli Law are in a holding pattern.
This comes after Plenary of the Supreme Court ruled that the interest in the protection arrangements for the main residence must be calculated on the monthly installment, and not on the total amount owed.
The servicers invoke the uncertainty that, as they claim, results from that decision.
The uncertainty they cite concerns the time of interest calculation – that is, whether it will the interest be calculated only for the month that elapses until the payment of each installment, or whether that amount it will apply for the entire duration of the arrangement.
The firms have decided not to proceed with definitive recalculations for the time being.
