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

Premier Rosen Zhelyazkov

Premier Zhelyazkov to participate at the European meeting on Ukraine via videoconference

On February 19,  Bulgaria’s Premier Rosen Zhelyazkov will participate in the second emergency meeting on Ukraine, hosted by French President Emmanuel Macron, the Bulgarian government said in a press release. Bulgaria received an invitation from..

published on 2/19/25 10:14 AM

The topic of the so-called ''Shopi nation'' was discussed in Bosilegrad

A forum was held at the BTA press club in Bosilegrad, provoked by the attempts to promote the so-called ''Shopi nation'' in the Western Outlands. MPs, diplomats and representatives of the academic community from Bulgaria took part in the discussion...

published on 2/19/25 9:51 AM

Bulgarian-African Chamber of Commerce to develop relations with the Bulgarian Chamber of Commerce and Industry

Representatives of the Bulgarian-African Chamber of Commerce visited the Bulgarian Chamber of Commerce and Industry and met with its President Tsvetan Simeonov. Albena Jones, Dimitar Turlakov, and Anton Samsonov are among the founders of..

published on 2/19/25 9:08 AM