Bulgaria’s Govt Mulls Personal Bankruptcy Bill

Bulgaria's Government will discuss a draft personal bankruptcy bill, included in the legislative program for the first half of this year.

The goal of the bill is to provide for the conditions when a person can declare bankruptcy and to terminate the practice of transferring the debts to the person's inheritors.

Currently, Bulgaria is the only EU country which does not have a law on personal bankruptcy.

The government's legislative program includes another 19 bills introducing EU laws and a package alleviating the administrative burden.

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