A new framework on non-performing loans is in place in Bulgaria. Have a look at the slides prepared by Iva Georgieva, an associate in our Sofia office, highlighting the key aspects of the new legislation. The new rules aim, on the one hand, at creation of more favorable conditions for the sale of non-performing loans, and on the other hand, seek to protect borrowers from aggressive and unfair debt collection practices. Overall, the new law should contribute to the development of the market and in broader terms impact positively the financial sector.
Read more about it HERE.