The number of consumer bankruptcies is growing
In October, 1,603 consumers declared bankruptcy. This is the highest result this year.
At the beginning of the year, the number of consumer bankruptcies slowed down. However, October saw a big increase, according to data from the Central Economic Information Center. A total of 1603 people declared it. This is the most this year.
A total of 12,600 debtors have already declared consumer bankruptcy this year. This is 16.3 percent less than in the same period a year ago.
According to experts, the decline in the number of consumer bankruptcies at the beginning of the year was not due to an improvement in the financial situation of debtors. It was the result of procedural changes. New rules for filing and conducting the bankruptcy process have been in effect since December 2021. Electronic procedures proved to be a problem for many debtors. As a result, proceedings have lengthened and the number of positively completed cases has dropped.
It can be expected that, on average, the number of consumer bankruptcy notices will be around 1,500 per month.
