Latest news and stories about debt management in Portugal for expats and residents.
Customers with home loans who benefited from the moratorium created for victims of the bad weather must resume payments on Tuesday, and those who foresee difficulties should contact their bank, advises the Bank of Portugal. In a statement released this Monday, the Bank of Portugal (BdP) reminds that the moratorium which allowed for a temporary suspension...
Estrela da Amadora has filed for a Special Revitalisation Process (PER) at the Sintra Court to secure balanced negotiations with creditors and ensure the continuity of its sporting and financial project. The club's board, led by Paulo Lopo, stated that the move is a responsible decision to safeguard the club's future and ensure equitable treatment of creditors. The core issue is a five-million-euro debt to Flamengo regarding the economic rights of players Igor Jesus and André Luiz. Following a change in leadership at the Brazilian club, the full payment was demanded immediately. To avoid potential FIFA sanctions and licensing issues with the Portuguese League, Estrela opted for the PER. The club confirmed it has no outstanding debts to employees and is up to date with tax obligations, noting that the debt stems from investments in the squad and infrastructure.
Taking out multiple loans can create heavy financial pressure. Loan consolidation is often the solution to reduce repayments.
