Best Bankruptcy & Debt Lawyers in Thivais

About Bankruptcy & Debt Law in Thivais, Greece

Bankruptcy and debt issues in Thivais, Greece operate under national Greek law, primarily the Insolvency Code enacted by Law 4738/2020, often referred to as the second chance framework. This unified regime covers both individuals and businesses, and it provides several pathways for dealing with private debt, including negotiation with creditors, out-of-court settlement, restructuring, and formal bankruptcy with the possibility of discharge from remaining debts.

Thivais sits within the Boeotia regional unit. Local matters such as court filings, service of documents, and enforcement actions like seizures and auctions are handled through local courts, bailiffs, and notaries in the Thiva area. While the substantive rules are national, having local support is important for timelines, filings, and communication with banks, tax authorities, and social security offices that operate locally.

The system aims to balance creditor recovery with viable reorganization and fresh starts for honest debtors. It includes tools for consumers, sole traders, and companies, as well as special provisions for vulnerable households. Because the options and consequences differ greatly depending on your income, assets, and creditor mix, early legal guidance is critical.

Why You May Need a Lawyer

A lawyer can help you choose the right path among multiple debt solutions. Common situations include receiving a payment order from a bank, facing wage or account garnishment, or being notified of a scheduled e-auction of property. In these cases, strict deadlines apply for objections and protective measures. A lawyer can also negotiate with creditors or prepare an out-of-court settlement proposal that realistically fits your budget and complies with national criteria.

If you have debts to the tax authority or social security funds, a lawyer can coordinate parallel solutions, such as installment plans or inclusion of public debts in an out-of-court mechanism. Business owners may need help with restructuring, continuity planning, or an orderly liquidation. Guarantors and co-borrowers often underestimate their exposure and benefit from legal advice on how one borrower’s default affects others.

Legal counsel is especially important when dealing with your primary residence, vulnerable debtor protections, cross-border assets, or suspected unfair collection practices. A local practitioner in Thivais will know the Court of First Instance of Thebes procedures, local bailiffs and notaries, and practical expectations of banks and funds active in the region.

Local Laws Overview

The Insolvency Code under Law 4738/2020 provides several tiers of debt relief. The out-of-court debt settlement mechanism allows individuals and businesses to propose a consolidated restructuring plan to banks, servicers, the tax authority, and social security funds. If accepted by the required creditor majority and confirmed, it can reduce interest, extend terms, and set affordable installments. While applying does not automatically halt enforcement, you may seek interim protection through court, and creditors often pause actions during active good faith negotiations.

Formal bankruptcy is available to both natural persons and legal entities. For individuals, after liquidation of non-exempt assets, the law provides a second chance discharge within roughly 1 to 3 years depending on the case and good faith. For companies, proceedings can include reorganization plans or liquidation. Directors should seek timely advice to manage duties and avoid wrongful trading risks.

Enforcement is governed by the Code of Civil Procedure. Creditors may obtain payment orders that can be challenged within short deadlines. Seizures of movable and immovable property can proceed to public auctions through the national e-auction system. Certain assets are exempt or partially protected, such as a declared unseizable bank account up to a statutory amount per month and a portion of wages and pensions. You should promptly declare an unseizable account to benefit from that protection.

Primary residence protection is no longer automatic. The current framework includes targeted measures for vulnerable households that meet specific income and property criteria, including a state supported sale-and-leaseback option with a housing subsidy. These measures are technical and time sensitive, so professional guidance is advisable.

Debts to the Independent Authority for Public Revenue and to social security funds can be placed into installment schemes or included in the out-of-court mechanism. Consumer credit data is maintained by the Tiresias registry, and defaults or restructurings may affect future borrowing. Debt collection agencies are regulated, and aggressive or misleading practices can be challenged under Greek law.

Procedurally, matters in Thivais are typically heard by the Court of First Instance of Thebes, with filings in Greek language. Local bailiffs effect service and enforcement, and notaries handle auction processes. Strict time limits apply to objections, appeals, and applications for interim measures, so act quickly upon any notice you receive.

Frequently Asked Questions

What is the difference between out-of-court settlement and bankruptcy under Greek law

Out-of-court settlement is a negotiated restructuring with your creditors that aims to keep you solvent and on a payment plan. Bankruptcy is a formal court process that generally liquidates non-exempt assets and can lead to a discharge from remaining debts for individuals. Out-of-court settlement is often faster and less disruptive, but it requires creditor agreement. Bankruptcy provides a binding court framework and a second chance discharge when negotiations are not feasible.

Can I protect my primary residence in Thivais

There is no broad automatic shield for primary residences. However, vulnerable households that meet statutory criteria may access a sale-and-leaseback option with a housing subsidy, allowing continued residence as tenants and a potential path to repurchase in the future. Depending on your finances and creditor posture, you might also reach a consensual restructuring that preserves the home. Seek advice early, especially upon receiving an enforcement notice.

Do I qualify for a second chance discharge of debts

Individuals may obtain a discharge after bankruptcy if they are honest and cooperate with the process. The discharge timeline generally ranges from about 1 to 3 years depending on asset liquidation and circumstances. Certain debts may survive discharge by law. A lawyer can assess eligibility and help you avoid actions that could jeopardize discharge, such as fraudulent transfers.

What happens if I receive a payment order from a bank or servicer

A payment order enables rapid enforcement if unchallenged. You typically have a short window to file an opposition, often 15 working days from service within Greece. If you do nothing, garnishment or seizures may follow. Bring the notice to a lawyer in Thivais immediately to check procedural defenses, negotiate with the creditor, or seek interim protection.

Are my wages, pension, or bank account fully garnishable

No. Greek law protects certain minimum amounts. You can declare one bank account as unseizable up to a statutory monthly limit, and a portion of wages and pensions is protected. The exact thresholds and procedures can change, and exceptions apply, so confirm the current rules and file the necessary declaration promptly.

Can tax and social security debts be restructured

Yes. The out-of-court mechanism can include debts to the tax authority and social security funds. There are also administrative installment plans with set criteria. Combining these pathways with private creditor negotiations can produce a comprehensive solution that aligns with your actual repayment capacity.

What documents should I gather before meeting a lawyer

Collect loan agreements, statements, notices, and any payment orders. Prepare recent tax returns, payroll slips, proof of benefits, and lists of assets and liabilities. Include property titles, vehicle registrations, lease agreements, and any correspondence with creditors or collection agencies. A clear financial snapshot helps your lawyer recommend the best course.

I am a guarantor on a loan. What is my exposure

Guarantors in Greece are typically jointly and severally liable. If the primary borrower defaults, the creditor may pursue the guarantor for payment and enforcement. Restructuring discussions should include guarantors. In some cases, guarantors can seek their own settlement or protections under the insolvency framework.

How will an insolvency or restructuring affect my credit record

Defaults, restructurings, and bankruptcy proceedings are usually recorded in the national credit registry. This can affect access to new credit during and after the process. Over time, successful completion of a plan and the passage of statutory reporting periods can improve your profile. Prioritizing a sustainable solution is often better than prolonged arrears.

Can a small business in Thivais restructure without closing

Often yes. Tools include negotiated restructurings, the out-of-court mechanism, and court supervised reorganization plans. These can adjust interest, extend maturities, and address legacy debts while the business continues operating. Timely action and transparent financials are key to creditor support and court approval.

Additional Resources

Special Secretariat for Private Debt Management - information on the out-of-court debt settlement mechanism, early warning tools, and support for vulnerable debtors.

Independent Authority for Public Revenue - guidance on tax debts, installment plans, and enforcement processes.

Unified Social Security Fund offices in the Thiva area - information on social security contributions, debt certificates, and arrangement options.

e-auction national platform - schedules and rules for property auctions conducted by notaries across Greece.

Tiresias SA - national credit registry that records bounced checks, loan defaults, and insolvency events.

Hellenic Consumer Ombudsman - assistance with disputes involving financial services and collection practices.

Consumer associations such as EKPOIZO and INKA - education and support for over-indebted consumers.

Bar Association of Thebes - local directory for licensed lawyers who handle bankruptcy and debt cases in the Thivais area.

Legal Aid under Law 3226/2004 - possible free legal assistance for low income individuals in civil and commercial matters.

Mediation and out-of-court dispute resolution services - neutral facilitation for settlements with creditors.

Next Steps

Do not ignore notices. As soon as you receive a demand letter, payment order, or auction notice, contact a bankruptcy and debt lawyer in Thivais. Many offer an initial consultation to map your options and immediate protections.

Prepare your financial documents and a realistic monthly budget before the meeting. Be candid about all debts, assets, and prior transfers. Avoid transferring property or making preferential payments without advice, as these actions can be challenged and may harm your case.

Ask your lawyer to assess eligibility for the out-of-court mechanism, public installment schemes, and any vulnerable debtor programs. Where enforcement is imminent, discuss filing an opposition or seeking interim measures to pause actions while negotiations proceed.

Declare an unseizable bank account and verify any wage or pension protections you can claim. If you operate a business, explore whether a restructuring plan can preserve operations and jobs while addressing legacy debt.

Agree on a step-by-step plan with clear timelines. Stay engaged, respond to creditor communications through your lawyer, and keep records of all payments and correspondence. With timely action and informed guidance, most people in Thivais can reach a manageable solution or a structured second chance.

This guide provides general information only. It is not legal advice. For advice tailored to your situation, consult a qualified lawyer in Thivais, Greece.