MyCredit at the Senate hearing for the first social securitization project in Italy.

Mirko Tramontano, CEO of MyCredit, participated in the Senate hearing on 16 January 2024 on the topic of “The network for protecting businesses and jobs to preserve the value of the country”. After an in-depth analysis of the situation of the non-performing loan market before and after the 2008 real estate crisis, Tramontano illustrated the critical issues surrounding NPLs and how the current difficult situation came about, highlighting the need for concrete action. On this occasion, Tramontano presented the first social securitisation project, created by MyCredit with the aim of helping those debtors, namely families and businesses, who often lack the tools and strength to return to performing status according to the pre-established methods and timelines. Social securitisation, which originated as a rationale for the Law for the Protection of Debtors, offers families the opportunity to keep their homes despite having had difficulties in repaying their instalments and their positions having been classified as non-performing.