Sat, Feb 11 2012

Defaulting debtors database to be operational in October 2010

Wed, Mar 10 2010 16:27 CET

byRene Beekman

1714 Views 2 Comments
Defaulting debtors database to be operational in October 2010

 
Photo: Nadezhda Chipeva

Bulgaria's first national database of debtors was expected to be operational from October 2010, according to Georgi Dichev, chairperson of the Chamber of Private Bailiffs.

In order to comply with the Personal Data Protection Act, the database would not be publicly accessible, Dichev said in an interview with Bulgarian news agency BTA.

Besides bailiffs, registration data would only be accessible to state institutions and "persons with a legal interest," Dichev said. Additionally, people would be able to access any information in the database concerning themselves.

Banks and other creditors could request applicants to provide proof that they are not included in the database, Dichev said. Delays in readying the database were due to increased numbers of defaulting debtors, he said.

Between 2006 and 2009, defaulting debtors had increased from 37 000 to around 110 000, while completed cases over the same period increased from 5 500 to 27 000 a year.

Over the four years in which private bailiffs have operated in Bulgaria, they had completed around 80 000 cases, collecting in excess of one billion leva, according to the chamber's data.

  • Print
  • Send via email
  • Translate to
  • Share:

Comments

Anonymous mmm Fri, Mar 12 2010 10:13 CET
Report Comment

so a bunch of private organisations are going to create a database with personal financial information? sounds like fishy business to me

Anonymous ivaylo chatov Thu, Mar 11 2010 15:49 CET
Report Comment

after 21 years of a free market, there is something that should have been there from the beginning, for without it business cannot function.


To post comments, please, Login or Register.


Please read the The Sofia Echo forum comments policy.

Bulgarian banks to capitalise profits instead of paying dividend

Analysts said the move would help them better shield themselves against the economic storm.

Offline: Database obsession

Many Bulgarian companies seem to work with a cash-flow system that sets hard administrative limits on calendar months and years.

Central database to register defaulting debtors

The number of defaulting debtors was increasing and banks were said to be in no mood to become real estate agents.

More in this category

US embassy in Sofia announces youth essay contest

Works will be reviewed by a group of judges, and winners will receive certificates and prizes.

Bulgarian police bust drug distribution gang in ‘Operation Hammer’

Seven arrested, including ‘The Squirrel’ who was found in possession of 10 00 euro, Interior Ministry says. Mobile phones, computer equipment and drug paraphernalia seized.

Bulgaria’s winter weekend weather – cloudy and cold with light snow

Maximum temperatures across the country will remain mostly below zero.

Mild earth tremors in Bulgaria on February 10

The first tremor was at about 12.34am, followed by another three minutes later. Their epicentres were located between the towns of Radnevo and Topolovgrad.

Bulgaria halts electricity exports after power plant accident

There was no risk of blackouts caused by insufficient power supply, Economy Minister Traicho Traikov told Bulgarian National Radio.

© 2000-2012, Sofia Echo Media Ltd.

Web Design by RIZN

Sofia Echo Media is part of the Economedia Group.
The news and information content on this website is provided by our editorial team and is copyrighted. Any unauthorised reproduction or use of it is strictly forbidden. Reproduction of this website's content is permitted only with prior written permission from the Editor-in-Chief, should be propertly acredited and provide an active link back to our site. Comments posted by the website's visitors are independent of the editorial materials and do not represent the views of sofiaecho.com. Sofia Echo Media cannot be held responsible for the statements contained in visitor comments. The percentаge change in the shares' prices are based on the price of the last transaction of the current session compared to the price of the last transaction of the previous session. Bulgarian Stock Exchange data is not real-time, but updated every 15 minutes, and should not be used as a basis for decisions about buying or selling stock options.