Tuesday 19 August 2025 15:25
Tuesday, 19 August 2025, 15:25
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More and more young people in Bulgaria are succumbing to the easy access to quick loans, driven by the lack of financial experience, the desire for instant gratification and the influence of social networks. This was commented on by private bailiff Stanimira Danova for BNR - Varna. According to data from the professional organization, over 120 thousand people between the ages of 18 and 30 in Bulgaria are subject to forced execution due to unpaid loans.
The main problem is that many young people do not realize the real price of the loan - fees, insurance and expenses are added to the principal sum, which sometimes double the amount, Danova pointed out. She gave an example of a real loan of 1000 leva (511.29 EUR), the final value of which can reach over 1600 leva (818 EUR). After non-payment, lawsuits, seizure of accounts and additional fees for lawyers and bailiffs follow, and everything is at the expense of the debtor.
Edited by Miglena Ivanova
This publication was created by: БНР екип