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The Warsaw Voice » Business » July 15, 2016
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Consumer bankruptcy surges in Poland
July 15, 2016   
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More than 5,000 Poles may declare consumer bankruptcy in 2016, Tomasz Starzyk of business intelligence firm Bisnode Polska said.

Some 1,900 such decisions were announced in H1, up by 144% year on year, but there could have been many more as courts are overburdened and unable to process all submitted motions.

Consumer bankruptcy is most often announced by women aged 30 to 60, according to Bisnode Polska.

Poland liberalized its consumer bankruptcy legislation last year. A debtor unable to meet his or her obligations due to factors beyond his or her control can motion for it once every ten years.

Most bankruptcies in Poland, 55% of cases, are related solely to consumer loans. Every fifth bankrupt holds at least one mortgage loan.
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