Even if you can`t afford to enter a repayment plan now, you can lenient your mortgage until you can. Let your lender know if you are expecting a job bonus or other additional source of income, and the lender can stop you payments and start a repayment plan when your income increases. Refund Calculator Use this tool to estimate how a refund plan might help you. The collapse of the Greek economy following the 2007-08 global financial crisis led to political instability, social exclusion and economic “brain drain” in Greece.  In 2010, 2012 and 2015, government policy and reform included 12 rounds of tax increases, spending cuts and a series of bailout loans from the International Monetary Fund and the Eurogroup.  It was the first developed country not to have to repay an IMF loan without notice, after a 20-day delay at the end of June 2015.  Public debt stood at EUR 323 billion in July 2015, below the OECD average, and since 2009 the debt has increased by EUR 18 billion, from EUR 300 billion to EUR 318 billion (6% in total). Months before the implementation of the second economic adjustment programme, eurozone heads of state and government agreed to extend loan repayment periods from 7 years to at least 15 years and reduce interest rates to 3.5%.  These changes have reduced Greece`s primary deficit from 25 billion euros in 2009 to 5 billion euros in 2011. However, despite the austerity measures taken at the time, the conditions of the recession deteriorated, resulting in a 7.1% decline in national GDP and an increase in unemployment from 7.5% at the end of 2008 to 19.9% in November 2011.
 Standard payments are the best option. The standard means regular payments – at the same monthly amount – until the loan is paid plus interest. In the case of regular payments, the debt is met in the shortest time frame. As an additional benefit, this method is also paid with the lowest interest amount. For most federal student loans, this means a 10-year repayment period. The structure of some repayment plans may depend on the nature of the loan and the loan institution. The fine print on most credit applications specify what the borrower should do if they are unable to make a planned payment. It is best to be proactive and go to the lender to explain the existing circumstances. Inform the lender of any setbacks, such as health events or employment problems that may affect the ability to pay. In this case, some lenders may offer special conditions for difficult cases. If you are eligible for a repayment plan, your outstanding amount is usually spread over a specified period of time (for example.
B 3, 6, 9 months) and added to your existing mortgage payments. Other repayment terms may also be available during the repayment period (check with your mortgage company to find out more about your specific options).