The average amount of non-performing debts of Bulgarians has increased for another year, this time increasing by 22%. According to ACABG, the debt in Bulgaria in 2016 is 912 BGN against 747 BGN in 2015. In the previous 2014, this indicator is only 485 leva.
There are no significant changes in the allocation of debt collection assignors in 2016 - nearly half of the debt traded by collectors comes from the banks, and 30% from telecoms. Third come the non-bank lending institutions, most often offering the so-called "Fast" loans, with 20% of the assigned debt.
There are no significant changes in the allocation of debt collection assignors in 2016 - nearly half of the debt traded by collectors comes from the banks, and 30% from telecoms. Third come the non-bank lending institutions, most often offering the so-called "Fast" loans, with 20% of the assigned debt.
Non-performing debts of individuals, sold to collection agencies, have grown nearly three times annually. The total amount of debt sold for the first half of 2016 amounts to BGN 609 million against BGN 221 million for the same period in 2015.
In the debt collection segment, data show that the volume of non-performing receivables of citizens increased by 11%, compared to the same period previous year - if for the period January-June 2015 collector agencies were assigned debt collections of the amount of BGN 997 million, a year later it has already become BGN 1,111 billion.
In the debt collection segment, data show that the volume of non-performing receivables of citizens increased by 11%, compared to the same period previous year - if for the period January-June 2015 collector agencies were assigned debt collections of the amount of BGN 997 million, a year later it has already become BGN 1,111 billion.
The average non-performing debt of Bulgarians grows by over 50% on an annual basis. If in 2014 the amount of the debt was BGN 485, then in 2015 this indicator equals BGN 747.
The percentage of liabilities assigned to ACABG members for non-bank financial products or so-called "fast" loans declined appreciably by 2015, reaching about 6% of all the assigned receivables, against 16% in the previous year. At the same time, service levels for commitments in 2015 improve on an annual basis.
The percentage of liabilities assigned to ACABG members for non-bank financial products or so-called "fast" loans declined appreciably by 2015, reaching about 6% of all the assigned receivables, against 16% in the previous year. At the same time, service levels for commitments in 2015 improve on an annual basis.
Debts of individuals, assigned to collection agencies in the first half of 2015 amounted to over BGN 983 million, against BGN 820 million for the same period of 2014. The attributed debts from telecom operators for the first six months of 2015 amounted to BGN 432 million compared to BGN 146 million for the same period of the previous year.
By two percentage points lower is the share of the delayed payments on bank products, 42% of all traded by the collecting agencies. A significant increase was recorded in the volume of the sold debt, registered in the first half of 2015 - BGN 149 million, against BGN 34 million in the same period of 2014.
By two percentage points lower is the share of the delayed payments on bank products, 42% of all traded by the collecting agencies. A significant increase was recorded in the volume of the sold debt, registered in the first half of 2015 - BGN 149 million, against BGN 34 million in the same period of 2014.
Collection' agencies have processed liabilities of individuals in the amount of BGN 1 431 billion in 2014. The sector reports a nearly 50% decrease in the volume of debt, while a year earlier this indicator was reaching BGN 2 605 billion.
The main creditors who use the services of collecting agencies remain banks (21% of the assigned volume decreasing from 38% in 2013) and telecom operators (33% at 40% a year earlier). In 2014 the non-bank financial institutions and utilities significantly increased their share. In corporate receivables continues the growth of those processed by the collection agencies, as indicated in the beginning of 2014 - the total serviced corporate debts during the year amounted to BGN 46.4 million, compared to BGN 18.9 million in 2013.
The main creditors who use the services of collecting agencies remain banks (21% of the assigned volume decreasing from 38% in 2013) and telecom operators (33% at 40% a year earlier). In 2014 the non-bank financial institutions and utilities significantly increased their share. In corporate receivables continues the growth of those processed by the collection agencies, as indicated in the beginning of 2014 - the total serviced corporate debts during the year amounted to BGN 46.4 million, compared to BGN 18.9 million in 2013.
The liabilities of individuals assigned for collecting to the collection agencies during the first six months of 2014 amounted to BGN 820 million. The volume of those liabilities fell by one third compared to the same period of 2013.
The average debt demanded by a collection agency is BGN 491, down nearly half the same period last year. Regarding the indebtedness of the companies, the data show increased levels of assigning receivables – just for the six months of the current year the business assigned BGN 23.5 million to the agencies for collection, which is more than the volume for the whole previous year (BGN 18.9 million).
The average debt demanded by a collection agency is BGN 491, down nearly half the same period last year. Regarding the indebtedness of the companies, the data show increased levels of assigning receivables – just for the six months of the current year the business assigned BGN 23.5 million to the agencies for collection, which is more than the volume for the whole previous year (BGN 18.9 million).
Bank loans in 2013 are the biggest burden but also a major priority for payment for the Bulgarian households. According to experts, families are experiencing the most serious difficulty paying the loans taken in the pre-crisis 2007 and 2008. Mortgage and consumer loans, as well as the electricity bills, are among the debts that Bulgarian households pay most strictly, however deferring the mobile phone bills.
As far as it concerns the intercompany indebtedness, the most problematic are the areas related to construction, metals and transport. The observed growth in private investments will make a direct impact on the collection of receivables for both natural and legal persons.
As far as it concerns the intercompany indebtedness, the most problematic are the areas related to construction, metals and transport. The observed growth in private investments will make a direct impact on the collection of receivables for both natural and legal persons.