The EU Court of Justice in Luxembourg has restricted the practices of quick loan companies. The magistrates ruled that the guarantors' fees must be included in the price of the loan, in the so-called annual percentage rate of charge. If it is not included, but is charged as an additional cost, then the loan agreement is invalid and the borrower owes only the net value of the loan, without interest and fees.
The decision of the EU Court of Justice comes after inquiry of the Sofia District Court and is mandatory for all national courts. This eliminates the practice among quick loan companies of requiring customers to provide a guarantee from a third party, most often a guarantor company related to the lender. This makes the loan more expensive, as there are cases of consumers being forced to repay 400% more than the principal amount.
The last battle of the legendary Bulgarian voivode Hadji Dimitar and his men against the Ottoman troops in 1868 will be reenacted for the 11 th time, Nikolay Baynov from the National Association Tradition in Kazalnak told the BNR. More..
On Saturday minimum temperatures will range between 10° C. and 19° C., for Sofia 10° C. During the day there will be sun with cumulus clouds after midday, and rain and thunder in some parts of the mountain regions of Southern Bulgaria. There will..
A Bulgarian delegation led by Energy Minister Zhecho Stankov held a series of meetings with representatives of the US State Department and the Department of Energy in Washington . The discussions centred on strengthening the strategic partnership..
Talking to reporters, President Rumen Radev commented on the tensions in society in recent months, and the protests against the euro and the state..
The National Assembly has elected Velislava Delcheva as Ombudsman. Delcheva, whose nomination was put forward by GERB/SDS, was elected out of 6..
At a meeting in Brussels between officials from the transport ministries of Bulgaria and North Macedonia, the two countries confirmed their commitment..
+359 2 9336 661