Sat, Feb 11 2012

The state toughens its stance over unpaid dues

Tue, Dec 15 2009 10:43 CET

byPetar Kostadinov

1972 Views 2 Comments
The state toughens its stance over unpaid dues

Photo: Krassimir Yuskesseliev

Paying all court-imposed fines and financial dues will be essential before applying for a mortgage loan from 2010 onwards, Bulgarian-language media said on December 15 2009.

As of January 1 2010, the State Receivables Collection Agency (SRCA), which currently secures collateral and enforces the collection of public and private state dues, will merge with the National Revenue Agency (NRA). This means that the NRA will take over SRCA functions.

Currently, when clients apply for a mortgage loan, they must present a statement, issued by NRA, showing that they are not indebted to the state.

Now, however, the NRA will know whether an individual has any unpaid debts to the state, local authorities or other individuals. This would include traffic fines which many people sometimes prefer to ignore.

As of January 1 2010, however, unpaid traffic fines will be considered a financial obligation that could bar a client's mortgage application.

The same will apply to unpaid mobile phone bills and bills owed to other utility service providers who have managed to brings clients' unpaid debts to the attention of the courts.

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Comments

Anonymous Raptor Tue, Dec 15 2009 13:11 CET
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the NRA will know "whether an individual has any unpaid debts to the state, local authorities or other individuals".

And what if a person has a genuine dispute in a Court of law with a certain utility supplier, does this mean he or she can no longer apply for a mortgage loan,and we know the legal system here can take 3 to 10 years to finalise the dispute.

Anonymous Raptor Tue, Dec 15 2009 12:57 CET
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This is a contradiction. What if you have a mortgage loan (debt) with a State owned bank. You still effectively OWE funds to the Government.


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