Frequently Asked Questions

  • What does the transfer of loans from the bank to a servicing company mean for the borrowers?

    Law 4354/2015 introduced a new special-purpose vehicle to the Greek market to service claims from loans and credits (servicing companies). The companies specialise in servicing claims and operate within the institutional and supervisory framework applicable to credit and financial institutions.

    Servicing Companies aim to find viable solutions to problems faced by the borrower. Solutions such as amicable settlements (with or without debt release), personalised arrangements on income-based criteria, the procedure of voluntary sale of the property, sale & lease back etc., are widely used in practice by servicing companies.

  • What is claim servicing, and what does Quant do?

    QQuant Master Servicer Servicing of Loans and Credits Single Member S.A.(“Quant”) is an independent company servicing claims from loans and credits granted by financial institutions to natural persons and enterprises in Greece. For this purpose, Quant has been licenced by the Bank of Greece, according to Law 4354/2015 and Executive Committee Act 118/2017 (decision number 247/14.11.2017 of the Credit and Insurance Committee).

    Our mission is to provide borrowers efficient and viable solutions tailored to their economic capacity.

    Servicing operations mainly include legal and audit monitoring, collection, negotiations with debtors and conclusions of conciliation contracts as per Articles 871- 872 of the Greek Civil Code or the arrangement and settlement of debts according to the Ethics Code.

    Among other things, Quant:

    • Services all requests for any information regarding the debt transferred to the special purpose vehicle, which has assigned the servicing of such debt to Quant.
    • Manages the arrangement, ensuring the performance of the best arrangement proposal possible, with the consent of the owner of the claims, which is the special purpose vehicle.
  • What is a Special Purpose Vehicle?

    In the context of transfer and/or securitisation, according to the provisions of Laws 4354/2015 and 3156/2003, as in force, the claims deriving from your loans are transferred to a special purpose vehicle (SPV). The scope of the special purpose vehicle is to service claims within the relevant institutional, legal and regulatory framework. The servicing is commissioned to a company servicing claims of loans and credits. SVPs are financed either with direct capital from investors (Private Investments) or by the issuance of rated titles (bonds), which are acquired by institutions (banks, insurance companies) and other investors.

  • What is the relation between special purpose vehicles and Quant as a Claims Servicing Company?

    The cooperation between a special purpose vehicle and a claims servicing company is necessary as, according to Law 4354/2015, the SPV must commission a claims servicing company for servicing its deriving from loans and credits it has acquired. As a specialised company servicing claims from loans and credits, Quant aims to provide innovative and efficient solutions for its clients and borrowers.

  • Does this bring changes to my rights and obligations?

    The transfer of claims and/or the securitisation of claims, according to the legal-regulatory framework in force, does not affect your rights and obligations. In any case, the substantial situation of debtors and guarantors cannot worsen due to the transfer of claims. The contract terms remain valid by the legislative framework, which also applies to the servicing company.

    Similarly, commissioning the servicing of claims by the partner banks to our Company does not affect your rights and obligations.

  • Why should I pay since I have not entered into a contract with the new beneficiary of the claim?

    Your obligations deriving from the loan contract you have signed remain unchanged. What changes with the transfer of claims either through securitisation or through the provisions of Law 4354 as modified and in force is the beneficiary of the claim.

  • Can I arrange my debts based on the Ethics Code?

    Yes. You can proceed as per the Ethics Code to arrange your debts based on it. More information is provided here.

    However, in any case, we are here to help you arrange your debts. You only need to contact us [ place Pillar inbound phone number], and we will talk with you. Once we have understood your financial situation, we will work together to find a way to settle your debt.

  • How can I pay my loan?

    Quant cooperates with and has active payment circuits:

    1. With Ethniki Bank, Eurobank, Attica and Pancretan bank

    2. With all banks via the DIAS payment system

    However, you need to know the relevant personal payment code, which differs for every portfolio. We communicate this code to you in our initial letter and any other letters informing you about your debts.

    Concerning the claims belonging to banks and serviced by our Company, the payment methods remain the same. Indicatively, deposit to the service account or directly to your loan account (for loans, e.g. joint credit accounts).

    If you still need the payment codes or the service accounts, you can contact us, and we will immediately help you. Contact details are provided on our website and in this section.

  • What can I do to talk with Quant?

    Contact Quant by:

  • I have made payments for my loan. Can the servicing company see them?

    Concerning claims not belonging to banks, our company manages and processes the payments you make daily through the payment circuits and using the relevant payment codes you know.

    Concerning portfolios belonging to banks, our company is informed daily through files by the banks and is aware of the payments you make.

    In any case, depending on the method and time of payment, we may be informed about your payment on the following working day.

  • An auction has been scheduled for my property. Will it be continued? What can I do to suspend it?

    All ongoing legal operations, including auctions, are continued normally. However, since our primary aim is resolving and settling your debts, you are kindly asked to contact us immediately concerning the arrangement of your debts and, therefore, the suspension of legal operations, including auctions.

  • What about my personal data?

    Quant fully complies with the legislation on the protection of personal data. You can read more here.

  • Why should I update my details? How can I do this?

    Updating your details is necessary so we can contact you to resolve your debts consensually. We always aim to avoid non-consensual solutions by the legal and regulatory framework in force.

    Furthermore, according to the Anti-Money Laundering legislation, providing documents verifying your details (Know your Customer-KYC) is obligatory. This verification applies to ID details, contact details, income and professional activity. More details regarding the updating of your personal information, as well as how you can provide us with these, can be found on our website.