A New Law by the Radev Cabinet Repealed Key Protections for Quick Loans
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7 Articles
"Progressive Bulgaria" proposes that quick loans should not be granted in the dark. This was stated by the head of the budget committee Konstantin Prodanov at a briefing to journalists. "The upcoming bill on consumer credit creates a good basis for more serious consumer protection, but additional changes are also needed," explained Prodanov. According to him, the main proposals will be aimed at limiting practices for circumventing legal restrict…
The government is proposing serious changes to the rules for quick loans, which could lead to significantly higher prices for some small loans.
Taking the piss out of payday loan companies and banning lending in the dark. These are just some of the proposals from ...
"Progressive Bulgaria" proposes that quick loans cannot be granted during the night hours. This was announced by the Chairman of the Budget and Finance Committee Konstantin Prodanov at a media briefing. According to him, there is a problematic relationship between gambling and quick loan companies. Prodanov pointed out that a large part of people with gambling addiction resort to loans […]
The Cabinet proposes a large increase in the ceiling for the increase in the price of some quick loans. A draft of a new Consumer Credit Act also eliminates the protection according to which compensation for loan default cannot exceed the legal interest rate,...
The government of Rumen Radev has quietly raised the ceiling on the rise in the price of fast loans and removed important protections for consumers, such as the prohibition on compensation for arrears to exceed the legal interest rate.
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