980 File For Personal Bankruptcy In Hungary So Far

  • 30 Aug 2017 9:00 AM
980 File For Personal Bankruptcy In Hungary So Far
Hungarians have made 980 filings for personal bankruptcy since the procedure’s introduction in the autumn of 2015. The court has approved 175 of the filings and is still processing another 118, Pál Völner, parliamentary state secretary for justice, said in a written response to a query by an opposition MP posted on the website of parliament.

A further 151 filings are being prepared for submission to the court. The court rejected 121 filings and out-of-court agreements were reached in 27 cases.

Preparations are under way to settle a further 388 cases out of court. Filers had on average 19 million forints (EUR 63,000) of debt. But some had debt close to the 60 million forint eligibility threshold for filing.

Republished with permission of Hungary Matters, MTI’s daily newsletter.

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