A record has been set for consumer bankruptcies

In November, 1515 consumer bankruptcy announcements were published in Monitor Sądowy i Gospodarczy. In total, 16.6 thousand people have already gone bankrupt this year.

This is 27 percent more than in the entire 2020, when 13 thousand people went bankrupt. This year, the number of bankrupts may exceed 18 thousand. Since mid-2020, every month at least 1 thousand consumers declare bankruptcy.

The rules regarding consumer bankruptcy changed in March 2020. Since then, the requirements for potential bankrupts are smaller. Previously, causing insolvency intentionally or through gross negligence was grounds for rejection of the application. Under the new regulations, such circumstances are not an obstacle, but they do affect the terms of the debt relief. The repayment plan for debtors who intentionally or negligently led to bankruptcy cannot be shorter than 3 years and no longer than 7 years. For other bankrupts, it is a maximum of 36 months.

Source: https://www.bankier.pl/wiadomosc/Rekord-upadlosci-konsumenckiej-juz-16-tys-bankrutow-8239540.html