Podcast in English
Text size
Bulgarian National Radio © 2025 All Rights Reserved

The government approves draft law on personal bankruptcy

Photo: Archive

The Bulgarian cabinet has approved a draft law on the bankruptcy of persons, known as the "Personal Bankruptcy Law", announced the Minister of Justice Krum Zarkov. The texts enable bona fide debtors to free themselves from obligations beyond their control. The court has the right to determine a monthly alimony, not less than the minimum wage, so that the debtor and his family can meet their living needs. 

"This law comes to help people who have fallen into temporary difficulties to get a second chance, to get them out of a spiral in which the more they try, the more they sink into the mire of their debts," said Zarkov. To enter into force, the bill must also be approved by the parliament.



Последвайте ни и в Google News Showcase, за да научите най-важното от деня!
Listen to the daily news from Bulgaria presented in "Bulgaria Today" podcast, available in Spotify.

More from category

Bulgarian National Bank building

Bulgarian National Bank reduces base interest rate

The base interest rate in the country is being reduced to 1.82% as of 1 August 2025, the Bulgarian National Bank (BNB) has announced. The reduction is by 0.09% compared to July, when it was 1.91%. The simple annual interest rate is being reduced..

published on 8/1/25 11:16 AM

Posters advertising Bulgarian tourism awarded

The jury at the International Triennial of Stage Posters and the Ministry of Tourism awarded three equal prizes and 8 incentive prizes for tourist posters on the subject of “Bulgaria”. The jury, headed by Prof. Bozhidar Yonov, reviewed 144 posters..

published on 8/1/25 10:58 AM

Bulgaria and Great Britain are partners in combatting illegal immigration

President Rumen Radev expressed his appreciation of Great Britain’s support for Bulgaria in guarding the EU’s external borders. President Radev met with the British ambassador to Bulgaria Nathaniel Copsey, the Bulgarian news agency BTA reports...

published on 8/1/25 10:31 AM