Media publications from recent days remind us that a solution has not yet been found to a problem affecting many people who have fallen into the trap of "easy money", who have become unable to service loans or have accumulated debts that put them at risk of losing only their home or income below the subsistence minimum. This was stated in a statement by the leader of "DPS- Novo Nachola" Delyan Peevski. Here are some more of his words:
The topic is very sensitive and the state cannot remain indifferent to such signals.
Therefore, it is necessary for the institutions involved to take action immediately! The Ministry of Finance, the Bulgarian National Bank, the Bulgarian Competition Commission and the National Agency for the Protection of Non-Banking Credit Institutions must optimize the procedures and control over non-banking credit institutions and submit proposals for the necessary amendments to the legislation in the National Assembly, which should be adopted as early as the beginning of the autumn session of the parliament.
The main thing is that regulations, control and sanctions must be changed so as to effectively protect people.
In line with European requirements, it is necessary to move towards licensing the activities of the companies themselves, adopting stricter control over interest rates and adopting rules for each category of loans. In this way, unfair practices such as fake "business loans", in which users lose their consumer protection, will be stopped.
Control over fees and commissions for services and the interest rate cap will allow to maintain a good competitive environment, while at the same time ensuring that consumers will be protected from fraud.
Creating a digital platform for the credit register in the BNB, in which all realized loans will be announced in real time, will create a barrier against abuses and malicious intent and vicious schemes.
The creation of a fund for compensation for victims of unfair practices of companies for quick loans is a tool that will allow to respond adequately to any confirmed signal of abuses.
Peevski warns: Institutions should immediately tighten control and sanctions for quick loans
In line with European requirements, it is necessary to move towards licensing the activities of the companies themselves, adopting stricter control over interest rates and adopting rules for each category of loans. In this way, unfair practices such as fake "business loans", in which users lose their consumer protection, will be stopped, Peevski also commented
Aug 18, 2025 08:09 245
