Tue, Feb 07 2012

Defaulting debtors database to be operational in October 2010

Wed, Mar 10 2010 16:27 CET

byRene Beekman

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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.

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Comments

Anonymous mmm Fri, Mar 12 2010 10:13 CET
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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
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after 21 years of a free market, there is something that should have been there from the beginning, for without it business cannot function.


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