Expert Group on Repossessions – what does it mean?

The Expert Group on Repossessions has submitted its report which was part of the 9th Troika review. It outlined some of the problems with the repossession process on the side of both borrowers and banks and made some suggestions on how the process could work better.

Far from being a free for all on repossessions as some have envisaged, it places much blame on banks and suggests standardised documentation for the courts so that there is some commonality across the banks operations when it comes to court.

There was also a rejection of thresholds and minimum payments which was pushing back on Troika suggestions on the matter.

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