The number of consumer bankruptcies continues to grow
The year 2019 did not bring any changes in trends concerning the number of declared consumer bankruptcies. Interest in taking advantage of consumer bankruptcy continues to grow, even though the current liberalised rules have already been in force for 4 years. In January and February 2019 alone, 1207 non-business individuals were declared bankrupt.
Nowadays, anyone can file for consumer bankruptcy, with the exception of debtors who have deliberately or through gross negligence led to their insolvency. According to the announcement of the Ministry of Justice, this condition will be alleviated as part of the upcoming amendment of the bankruptcy law.
The draft amendment assumes that also debtors who have led to their insolvency will be able to declare bankruptcy, but will have to carry out the repayment plan for a longer period of time. In addition, conditional waivers are foreseen for those who have temporarily lost their ability to pay.